Got the winning lottery ticket? An economist explains what to do with all that money

A newsstand vendor sells tickets in the Mega Millions and Powerball lotteries. Reuters/Mike Segar

Finding self-control

The urge to spend is a huge problem.

You can buy happiness

And so what’s the best way to spend that money?

Vacations are one way to spend your winnings. Monkey Business Images/shutterstock.com

Dealing with loved ones

But a trickier issue is how to deal with relatives and friends. Once you hit the jackpot, many people will likely come calling, even those you have not seen in years. Suddenly, you’re the dearest person they know.

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