Ahead of a mega £114M EuroMillions jackpot this Friday, research from The National Lottery has revealed a list of the top things Gen Z’s would spend their money on if they won the lottery. Giving a large sum of money to parents ranked top of the list, with 33 percent. While in second place - above buying themselves expensive items like a sports carand a Rolex - was giving their family financial security by paying off their debts.
Going on an ethical traveling trip, giving a large amount of money to charity, and moving to the country and living off grid also featured on the list. And buying a sustainable home came above purchasing a ten bed mansion, and buying a yacht.
15 percent said they’d use the money to start their own business and employ their friends and family, which is what Jamie Heavens from Bournemouth did after winning £1m on a Scratchcard when he was 22. He said: “Winning the lottery accelerated my life. I’m 30 years ahead of where I would have expected to be in life - to be mortgage free and set up my own business in my twenties is incredible.
"I now have a successful growing business for which I employ several people, including friends and family members. Being able to employ loved ones has made a difference to my life as well as theirs.”
When it comes to how Gen Zs would feel if they won the lottery, the majority said they’d initially feel overwhelmed, and 34 percent said they’d be delighted. And a selfless 38 percent said they’d feel happy for their family.
Overall, 92 percent of us believe it’s important to do some good with the winnings. On average, the nation would give 16 percent of their winnings to charity - while Gen Zs would pledge 19 percent.
Andy Carter, Senior Winners Advisor at The National Lottery said, “We have paid over 6,000 National Lottery millionaires and have seen winners get excited about everything from buying their dream home, booking amazing holidays or even splashing out on the new vacuum cleaner they’ve always wanted.
“But without a doubt, seeing the joy that helping family, friends or their local community brings is what a winner remembers the most.
“It's heartwarming to see that young people want to change the lives of the people they care about. And with a massive win like Friday's estimated £114M jackpot, they could change a lot of lives.”
James Evans from Derbyshire scooped the top prize on Set For Life in December 2020, banking him £10k a month for 30 years at the age of 21. And to the shock of most of his friends, he still works with his dad as a block paver.
“I'd get bored if I stopped working. People have said why am I still doing the same job, as it’s physically challenging at times. My reply has always been - I could never do a job where I am sat down all day or not doing as much as I'm used to. Another reason is because I never wanted to win to change who I am. I must admit some mornings it's hard to get up!
“So far the best thing that I have done with my money is buy my own property and renovate it in my own style - I didn’t think I’d ever be able to do that.
“I’ve been able to help my brother out with his small business too which feels great and I have treated myself. The first thing I did after my win was build my own computer as I’d been previously saving up for one and then I paid off the finance on my car which was an amazing feeling.”
Jodie Scullion from Birmingham was 22 when she won £1M on a very lucky Scratchcard in 2019. Since the win, Jodie has invested money into property to secure her future, whilst helping out loved ones.
Jodie said, “Winning has changed everything, it has allowed me to purchase my first home, build an extension and given me the opportunity to help my family when they need it as well as living comfortably myself.
“Living mortgage free at such a young age is something most people would dream of! I was able to pay off my caravan and car which is such a luxury. I treated myself to a personalised number plate. I had been looking at them for a while, thinking, “I'm never going to be able to get one”. It was something I always wanted and the first thing I bought after my win.”
TOP THIRTY THINGS GEN ZS WOULD SPEND A LOTTERY WIN ON:
Give money to your parents - 33%
Pay off all my family’s debts - 32%
Go ethically traveling - 28%
Give a large sum of money to charities that are important to me - 26%
Go on a holiday of a lifetime - 26%
Pay off your parents’ mortgage - 23%
Buy your parents a house - 22%
Give money to your siblings - 21%
Buy a sibling a house - 17%
Pay off your mortgage - 17%
Start a business - 15%
Give money to your wider family - 15%
Pay off your sibling’s mortgage - 15%
Start a new business and employ your friends and family - 13%
Move to the country and try to live off grid - 11%
Buy a sports car - 11%
Buy a sustainable home - 9%
Invest in an ethical company - 10%
Get a Rolex - 10%
Start a charity - 9%
Buy a London pad - 9%
Buy a ten-bedroom mansion - 8%
Buy a supercar - 8%
Buy a top of the range electric car - 8%
Build an eco home to move into - 7%
Set up a charity/ social enterprise - 7%
Invest in the fight against climate change - 7%
Buy a yacht - 6%
Start a new eco-friendly business - 6%
Set up your own political party and run as an MP - 6%
