Winning the Lottery can make you less of what you already are

With just a bit of luck $1 could have become $312 Million in last Friday’s Mega Millions lottery.  Think of it, just pick 6 numbers correctly and all of your financial needs could be met, or could they?

It is my belief that giving people in financial distress a large sum of money actually makes the problem worse.  The distress financial situation is often caused by not matching expectations and expenditures with means and ability to earn.  Many of these situations start out slowly of earning just a little less than one spends, and then as the amount of difference (debt) accumulates, more desperate action is required that exasperates the condition.

A recent news article points to a related trend Why Lottery Winners Go Bankrupt by Jack Hough (Smart Money 3/28/11)

My belief is that if you want to have a happy life, learn how to live within your means.  And constantly push yourself to increase your means.

Leave a Reply

Your email address will not be published.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