Young mum wins $66million on lottery. Will she spend it wisely?

Sarah Coles
AM5279 thumbing a thick stack of American paper money $100 dollar bills.  cash; money; rich; wealthy; success; wad; lottery; gai
AM5279 thumbing a thick stack of American paper money $100 dollar bills. cash; money; rich; wealthy; success; wad; lottery; gai

Kelsey Zachow, a 24-year-old mum from Mt Clemens in Michigan, was working two jobs in order to make ends meet. She was supporting her seven-month-old son, her boyfriend and his five year old daughter by working as a medical assistant during the day and a bartender at night. Now she has quit both jobs, after landing $66 million in the state lottery - but says she's not going to waste the money.

The Battlecreek Enquirer reported that she bought her winning ticket on Friday 13th, and didn't check it until 11 days after the draw. She said she took it into a shop to be checked, and after hearing she had won she jumped in the car and sped home to tell her boyfriend, Billy Bartlett.

She's taking it as a lump sum of $27 million instead of annual payments, and according to the Daily Mail, is planning to spend some of it on an SUV, a jeep and a convertible. She also wants to buy the home of her dreams and take holidays across the world. After that she will pay her son's college tuition - as well as college fees for her 2-year-old brother and her boyfriend's daughter.

But she's also keen to learn from the mistakes of other winners who have blown the lot. She waited for six weeks before picking up the money. During that time she consulted a financial planner and a lawyer, and says she will take care not to fritter it all away.

Young lottery winners who lost it all
Her ambitions are laudable, but when young people win the lottery, things don't always go to plan. There was Callie Rogers who won £1.9 million on the National Lottery at the age of 16, and spent the lot within a few years. Last year she said her life was back on track and she was happy - despite only having £2,000 in the bank.

There was Michael Carroll, who won at the age of 19 and famously blew every penny of his fortune. He lost his home, served a jail sentence, and was estranged from the mother of his child. He said he briefly camped out in the woods before getting his life back together last year.

Then there was 19-year-old Jonathan Vargas from Florida who in 2008 decided to spend a major chunk of his $35.5 million Powerball win on founding a wrestling business featuring scantily-clad girls. He landed a TV deal, but the show lasted just one season, and the business subsequently closed.

But what do you think? Is it tough for young people to keep a lid on their spending after winning the lottery, or will Zachow use the money wisely to set herself up for life?%VIRTUAL-SkimlinksPromo%

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