More Than Six-in-Ten U.S. Adults Would Plan to Still Live Frugally if They Won the Lottery, Finds New CouponCabin Survey

WHITING, Ind., Sept. 19, 2012 /PRNewswire/ --Champagne wishes and caviar dreams? While it's easy to fantasize about what one would do with a lottery jackpot, a new CouponCabin.com survey reveals that many U.S. adults would continue to live normally if they won the lottery. In fact, 64 percent of U.S. adults said they would be extremely or very likely to continue to live frugally and 55 percent would still be extremely or very likely to use coupons. This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin from September 5th – 7th, 2012, among 2,570 U.S. adults ages 18 and older.

In addition to frugal living and coupon use, hypothetical lottery winners said they would be extremely or very likely to maintain other cheap living habits, including:

• Shopping at dollar and/or discount stores – 53 percent
• Only buying items on sale – 51 percent
• Continuing to work at current job – 36 percent

Regardless of lottery-winning plans, nearly four-in-ten (37 percent) of U.S. adults buy lottery tickets at least sometimes, while 13 percent of buy them very often or often. Those in the Northeast (43%) are significantly more likely than those in the West (30 percent) and Midwest (35 percent) to buy lottery tickets at least sometimes.

Comparing gender, more males (42 percent) buy lottery tickets at least sometimes than females (32 percent). When it comes to age, significantly less U.S. adults ages 18-34 (28 percent) buy lottery tickets at least sometimes, than those ages 55 and up (41 percent).

"It's easy for anyone to get swept up in the excitement of lottery tickets, but it's important to be realistic," said Jackie Warrick, President and Chief Savings Officer at CouponCabin.com. "Keep your spending on lottery tickets in check, and never spend more on tickets than what you could potentially win. Be sure to focus on practical ways to get out of financial issues rather than spending money and energy on lottery tickets."

Young and old alike would prefer to get their lottery jackpot in one big payment. When asked how they would like to receive their winnings, the majority (72 percent) said in a single, lump sum payout. Twenty-eight percent would prefer their stash to be paid out over time in an annuity.

When asked what they would do with the money if they won a large amount in the lottery, some U.S. adults took the practical route while others had more creative dreams.  A random sampling of U.S. adults shared the following plans for if they won big lottery payout:

• Build a homeless shelter.
• Pay for medical procedures that my insurance won't cover.
• Establish a charitable foundation.
• Set up college funds for my children and grandchildren.
• Get a divorce.
• Get rid of my student debt.
• Find a job that I really want to do, rather than work at a place I can't stand just earn a paycheck.
• Endow a scholarship at my college.
• Buy my parents a home closer to me so I can take care of them.
• Donate 10 percent to my church.
• Makeover my home and hire a maid.
• Get prescriptions that I can't currently afford.
• Hire a hairdresser and masseuse daily and have a chauffeur.
• Take my family to Disney World.
• Open an orphanage.
• Buy a Steinway D Concert Grand piano.
• Pursue my dream job of teaching.
• Purchase a large RV and travel the country visiting family and friends, and camping and hiking with my spouse.
• Start my own business.
• Work for free for a non-profit.

http://www.couponcabin.com/press-releases/

Survey Methodology:
This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin from September 5th – 7th, 2012, among 2,570 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore, no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact: Allison Nawoj, [email protected].   

About CouponCabin.com
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SOURCE CouponCabin