We all dream about what it would be like to strike it rich, hit the jackpot, and become an overnight millionaire. It sounds like a dream come true to go from being an average joe to a mega-winner, able to buy whatever you want. Vacations, homes, designer duds– sounds perfect, right? Actually that couldn’t be further from the truth.
I just came across an article from Dave Ramsey. It sites a new study published in the Journal of Behavioral Decision Making that finds that people who feel poor often spend more money trying to strike it rich. One report says that families who make under $12,400 spend $645 every year on lotto tickets!
But what happens if you win? Are you suddenly set for life? Not according to experts. Coming into a lot of money in a short amount of time means you’ll be faced with requests from family members you never knew existed looking for a piece of your pie. It instantly makes you a target for scammers.
The next time you feel the urge to spend your hard earned cash on a lottery ticket consider this: The odds of winning a lottery are literally about 1 in 125 million.
* You are 66 times more likely to die from a snake bite.
* You are 2,001 times more likely to die in the electric chair!
* You are 2,201 times more likely to die from a hornet, wasp or bee sting.
* You are 1,488,095 times more likely to die in a car wreck on the way to the gas station to buy the lottery ticket.
Those of us who aren’t millionaires need to spend our money wisely, and that doesn’t include blowing it on lottery tickets.