Dennis#MD 192 Admin Report post Posted May 11, 2009 This article focuses on why lotto winners often lose their money quickly. But it does a pretty good job of explaining why many people will always be poor. Why Winning The Lotto Is Bad For Your Finances... Many studies have been conducted following the journey of the winners of lottery stakes and the studies have found that in nearly all cases the winners ended up with less money or in a worse financial situation than they were prior to winning the lottery, in just a short period of time after wards. That's a pretty interesting finding isn't it? So why is this? Could it be that the mentality that causes people to buy lottery tickets is the same mindset that loses those winnings. One of the proven points is that if people advance beyond where they are, whether it be financially or socially, that they eventually gravitate back to the level where they see themselves. (Eg. The image you have of yourself must also advance if you are to retain your financial status). So when people gain these winnings, they don't have the financial intelligence to deal with the large amounts of money and therefore these funds disappear at an extremely fast rate. On the other side of the coin if we look at people that have created their own wealth, their wealth continues to grow. By developing the right mindset in the first place it gives them the understanding of what wealth actually is. When speaking about wealth, most think we are talking monetary value but we are also talking about a whole life approach and having abundance within our lives. By having an abundance mentality it gives us the ability to then further increase our abundance even further. Understanding the abundance mentality gives people the ability to realize that if they add value to society and other people's lives that the good things will return to them. It has been said that if all the wealth on the earth was taken away from the wealthy and divided evenly to everyone on this planet that within a very short space of time the wealth would end up back in the hands of the wealthy not because the wealthy come and steal it, but because the wealthy have the mentality which enables them to make and attract wealth into their lives, where as those without the right mindset don't know how to retain their wealth. So if the old saying "It takes money to make money" was correct, this scenario would not work, so the only difference here is the mindset and the mentality of the people involved. If we think along the lines of scarcity that is what we will attract into our lives, if we think along the lines of abundance we will have abundance within their lives. Quote Share this post Link to post Share on other sites
skylady 40 Staff Report post Posted May 11, 2009 Thank you Dennis for bringing these thoughts to us, as they are true... Our mindset is what makes or breaks us... :) Quote Share this post Link to post Share on other sites
Mary 0 Report post Posted May 24, 2009 that was a very good article dennis... very interesting... :D Quote Share this post Link to post Share on other sites
Jutawan 0 Report post Posted June 4, 2009 Playing lotto does not make us rich, but even poorer. :question: Quote Share this post Link to post Share on other sites
alice29 2 Report post Posted January 29, 2011 now i understand why there are lottery winners who lost their money in a short period of time. B) they don't know how to deal with this big amount of cash they get instantly. thanks for this nice article! B) i just hope it won't happen to me if i ever won lol. Quote Share this post Link to post Share on other sites
pjbabia 2 Report post Posted January 30, 2011 featured on local tv hosted by Korina Sanchez about a lottery winner who carelessly spend his winning money for good times, girls, night life, and giveaways to his relatives. It was long time ago and i forgot his name. So now he is back poor. Quote Share this post Link to post Share on other sites
alice29 2 Report post Posted February 5, 2011 i think i have seen that episode about a lottery winner who became poor again, i just forgot the whole story. but thanks for reminding it here. so that was a big mistake he did! :huh: he should have made a plan on how to spend the money wisely. like put it on a business, savings, house and lot, etc. B) Quote Share this post Link to post Share on other sites
Andry 0 Report post Posted February 20, 2011 @alice Yes, if you only depend your life on that winning, you will become poor again. But if you can use the money wisely, that will be good capital for you hahahaa... Quote Share this post Link to post Share on other sites
alice29 2 Report post Posted February 21, 2011 @alice Yes, if you only depend your life on that winning, you will become poor again. But if you can use the money wisely, that will be good capital for you hahahaa... yeah we must be thankful enough to God by giving us the luck of winning that huge amount. but it is us who will decide how to use it so we can have more money using it. God won't tell us what to do anymore. :rolleyes: we should be very careful in handling the money because every wrong move will make our life worse. :wacko: Quote Share this post Link to post Share on other sites
neng 0 Report post Posted February 21, 2011 yes of course we should invite GOD into our life so our life will be light to carry for him nothing is impossible Quote Share this post Link to post Share on other sites
Andry 0 Report post Posted February 21, 2011 @alice You're right. We must thank God of that and we must manage our money well so we won't be too careless to spend our money. Quote Share this post Link to post Share on other sites
pjbabia 2 Report post Posted February 21, 2011 It is indeed important that a lotto winning has a money management tactics so that he will not be lured by people that sorrounds him. Keeps on asking for money etc. Also, as far as i know lottery officials will teach the future winners about money management. What to do and where to invest in order not to loss the money in useless things. Quote Share this post Link to post Share on other sites
Andry 0 Report post Posted February 21, 2011 Usually lottery will make us poor because it's similiar like gambling or maybe we can say that is gambling too because our action will depend on luck only. Quote Share this post Link to post Share on other sites
cnbc 1 Report post Posted February 21, 2011 Usually lottery will make us poor because it's similiar like gambling or maybe we can say that is gambling too because our action will depend on luck only. lottery will not make you poor if you are not addicted or can use good money management. if you spend all of your money just to buy lottery with hope that you can win the jackpot, surely you will be poor very soon. mindset is the one can make you poor, because what ever you do in action starting from your mindset. Quote Share this post Link to post Share on other sites
alice29 2 Report post Posted February 22, 2011 pj i'm not sure about you said on lottery officials suggesting investments to the winner. but if that's true then that's good. but if i am the winner i don't just trust those people because they're strangers to me lol. maybe i'll just buy them a pizza! :biggrin: Quote Share this post Link to post Share on other sites
Andry 0 Report post Posted February 22, 2011 @cnbc Yes, I am agree with you. It will depend on yourself but I ever read there is word which said, something that you got easily you will lose it easily too. But that will depend on each person too :D Quote Share this post Link to post Share on other sites
neng 0 Report post Posted February 22, 2011 well if a certain person knows how to take good care of his winnings then i might say that he will prosper Quote Share this post Link to post Share on other sites
pjbabia 2 Report post Posted February 22, 2011 pj i'm not sure about you said on lottery officials suggesting investments to the winner. but if that's true then that's good. but if i am the winner i don't just trust those people because they're strangers to me lol. maybe i'll just buy them a pizza! :biggrin: i heard it in local tv news program that the lotto officials will suggest investing their money in what every ways.. they also suggest in where to invest.. at least that is what i have heard Quote Share this post Link to post Share on other sites
Andry 0 Report post Posted February 22, 2011 @pjbabia I don't think that was good idea to invest our money in lottery. If me, I won't do that because mostly I will be lost :D Quote Share this post Link to post Share on other sites
pjbabia 2 Report post Posted February 22, 2011 @pjbabia I don't think that was good idea to invest our money in lottery. If me, I won't do that because mostly I will be lost :D not if you have a pre-predicted number.. hehe which is i think not possible,,, the drawing of numbers is of live draw and it is carefully check.. but who knows if some one can actually predict the number.. then that would be nice.. Quote Share this post Link to post Share on other sites
