Powerball

Blessing or Curse

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Lottery 2Blessing or Curse? Depends on you.

A life changing event for someone who bought a Powerball ticket at a Trenton 7-11 store.  Best thing that could’ve happened to that person, right?  Well, maybe not.  Turns out that many lottery winners end up broke and worse off than they were before cashing in the big check.  Other than playing in the Chasing News and NJ101.5 lottery pool for the previous billion dollar jackpot, I’m not a lottery player.  Seems like throwing away your money in small increments without even the enjoyment of a boardwalk midway game.  And after spending nearly $50 I’ve sworn it off… at least until the next billion dollar jackpot.  Money has value.  It doesn’t come from nothing and has to be produced and earned.  The more people understand how to earn money, the more value it has for them and the more likely they are to manage it well and make it grow.  Unfortunately so many people who win the lottery have no understanding of how to manage money and as a result nearly half of large prize lottery winners actually end up broke.  The irony is the person most likely to avoid a financial hardship as a result of winning the lottery is the person who really didn’t need the lottery to be financially stable in the first place.

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