Kentucky lottery winner: Louisville man uses prize money to get out of debt

nexninja
3 Min Read



CNN
 — 

A life-changing grocery retailer run has erased one Kentucky man’s money owed.

Whereas he was testing on February 9 at a retailer in Louisville, Charles Stallard determined so as to add yet one more merchandise to his purchasing cart: a lottery ticket that may pay fifty instances the money quantity that’s revealed.

Stallard scratched off the $5 ticket in his truck, revealing a “50x” image – that means the listed successful prize on his ticket would get multiplied by 50.

Whereas this usually alerts excellent news for lottery gamers, it didn’t initially excite Stallard.

“I figured it was going to be $5,” he stated, based on a information launch from the Kentucky Lottery. However the quantity printed on the ticket was a lot larger than that.

“Once I scratched off $3,000, I really began crying,” Stallard informed lottery officers. “I couldn’t imagine it!”

He had gained the lottery recreation’s grand prize.

Stallard gained $150,000 that Friday afternoon, and held onto the successful ticket for the following three days.

“I didn’t get a lot sleep all weekend,” he stated.

When he redeemed the ticket the next Monday, Stallard walked away $108,000 richer after taxes. Stallard’s plan is to repay his home, he informed lottery officers.

“For the primary time in my life, I’m not in debt,” he stated.

And as soon as Stallard is formally debt-free, he is aware of how the rest of 2024 will go for him.

“I’m fishing the remainder of the 12 months.”

When Stallard reeled in and caught his successful lottery ticket, he grew to become a part of the 23% of Individuals who’re residing with no debt, based on the Federal Reserve Financial institution of New York.

Whereas the definition of ‘debt free’ varies, over half of all Individuals owe some type of stability.

In line with a report by the Federal Reserve of New York department, the full family debt within the US reached $17.5 trillion in 2023.

Sources of 2023 family debt within the US embody:

  • Credit score Playing cards: $1.13 trillion
  • Mortgage: $12.25 trillion
  • Auto Loans: 1.61 trillion
  • Scholar Loans: $1.6 trillion

Excellent balances additionally embody debt from retail bank cards, shopper loans and different non-household bills.

There are nonetheless two $150,000 successful tickets remaining for 50x The Money lottery recreation, based on the Kentucky Lottery.

Source link

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *