Recession changes folks' outlook on what they would do if they won alottery

LIVONIA,
Mich.,PRN -- GHN News Editor - You get the call: "You won the lottery."  What will you do
with those winnings.  A survey of people finds those answers, finding
most people would be conservative with their winnings.

 According to the results of a study conducted by Market Strategies the first thing most people would do is pay off their debt.

Experts
show this shows a shift in the thinking of consumers, in the sense that
more and more people are trying to live within their means.

 Paying off debt was the top choice of consumers,
regardless of income level, with over one-third responding that it would
be the first thing on their list should they be lucky enough to win the
lottery in a survey conducted September 23 - 29.

Mark Willard,
senior vice president of Market Strategies' Financial Services Division
says this about the survey outcomes and paying one's debt first:  "We
believe this to be a long-term effect of the recent economic challenges
and perhaps the most fundamental change in economic outlook since the
Great Depression," he said.

The next six choices, in order of popularity, seem better aligned with traditional dreams of riches:

• 25 percent would buy a house


• 15 percent would either (a) help family and friends, or (b) save or invest (tie)


• 11 percent would buy a car


• 10 percent would take a vacation


• 6 percent would help others or donate to charity

"Surprisingly, the age of the respondent has little effect on the choice," said Willard.  "Every respondent from age 30-70 chose to pay off debt first.  Only Gen Xers (age 21-29) put it second, behind buying a house.  Of course, that seems logical in that they may not yet have been able to purchase a home at their age."

Market
Strategies' Consumer Financial Outlook study was conducted online
through uSamp, with 2006 respondents from U.S. consumers between the
ages of 21-70. Margin of error is /- 2 percent.