How to Spend a Million Dollars

by Contributor ; Updated July 27, 2017

How to Spend a Million Dollars. There are worse problems to have than spending a million dollars. You are now the envy of everyone you know. It's a good idea to listen to suggestions from friends and family; however, the decision is ultimately yours. Start with some smart choices and then take this opportunity to fulfill lifelong dreams.

Step 1

Pay off all current debt you owe including credit cards bills, car payments and your mortgage. Hopefully it does not total a million dollars.

Step 2

Buy your dream home or a second home in a place you have always wanted to live, such as Fiji, Italy, England or elsewhere in the States. You could spend $500,000 on the home and redecorate with the rest of the money.

Step 3

Hire an interior decorator with a $100,000 budget if you have no idea how to redecorate your new home. Perhaps the interior designer can give you some type of discount if both of your homes need decorating.

Step 4

Give away $10,000 to a charity of your choice or donate some money to your school system, or the school system you went through as a child. Start a scholarship fund.

Step 5

Take the cruise or vacation you have been talking about for years. Stay in five-star hotels and have nothing but the best served to you. Enjoy spa treatments and have your every whim catered to.

Step 6

Dress yourself to perfection in all the top designers. Accessorize with jewelry or a watch from Tiffany. Set up an appointment for a complete makeover to match your new wardrobe.

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