Everyone dreams of striking it lucky with a £1 million win. Most of us also accept the fact that it probably isn’t going to happen. There’s a very tiny chance your cards will come up, but scooping-up £1 million in hard currency isn’t what you’d call likely.
But what if the wholly unlikely was to occur? What if despite your scepticism, you suddenly find yourself staring at £1 million in the face? Realistically, do you have any idea what you’d do with the cash?
Surprisingly, most Brits do. When polled by Betway asking how they would spend £1 million, it quickly became clear that quite a lot of Brits share the same priorities. Slashing the case on indulgences is one thing, but there’s a strong chance you wouldn’t be nearly as frivolous as you’d expect!
Dreams of Homeownership
Right at the top of the table, a whopping 43% of those polled stated that the first thing they would do is buy their own home. A figure that suggests two things – most of those polled didn’t already own their own homes, and probably couldn’t see themselves getting on to the property ladder any other way. Hardly surprising, given the unfortunate state of affairs on the UK housing market!
After this, another 15% stated that the first thing they would do would be to pay off their mortgage. Combined, this adds up to a total of 58% of those who would prioritise paying for their own home, if they came across £1 million. A surprisingly sensible priority most Brits apparently have in common.
Outside this, 13% stated that the first thing they would do would be to book a luxury holiday of some kind.
Followed closely by those more interested in paying off debts in general, accounting for 11% of respondents.
If buying a new car would be your priority with your £1 million, you’re in a surprisingly small bracket of just 8% of those polled. And if you’d prioritise a charitable donation, you’re apparently more generous than 99% of average Brits!
Would You Quit Your Job?
Here’s another question – would winning £1 million be sufficient justification for quitting your job outright?
When polled, just 50% of Brits stated they would quit their jobs if they came into £1 million. 30% said they would stay in their current position, while the remaining 20% would prefer to take an extended break and consider their options accordingly. Interestingly, 47% of women stated that they would quit their jobs, while 54% of men would happily walk out the door and never come back.
There were also some interesting generational variances in the findings. One of which being 26% of Generation Z respondents stating they would buy a new car, compared to just 9% of those aged 25 to 34. Likewise, 53% of those aged 55 to 64 would prioritise buying a home, compared to just 30% of those aged 45 to 54.