Spending my Lottery Winnings


I want to spend half my paycheck until I win the payday lottery jackpot but I can't and I don't think you can either. I endeavor to calculate how much money per year is spent on my lottery play. For example: $10 per week spent on the lottery is approximately $520 per year. If you make $17,000 annually then you will be spending 3% of your income on tickets. So always consider what life would be like if your income was split into 100 equal parts... For every hour that you work how much do you spend on the lotto?

Small Wins

Don't waste that two dollar prize on some silly scratch ticket with a poor expected return and small top prize. I suggest keeping your cash prize in your pocket and stick with your fixed play budget. Things like doubling up aren't the same in the lotto so you shouldn't increase your spend and beware of anyone telling you they can actually increase the odds of winning.

Large Wins

It is my theory a large lottery prize should be deposited to a savings account with maximum monthly paying interest. No transactions until the first interest payments appear in the account. Decide if its worth removing a small amount of the new cash egg. Explore all options and take taxes into consideration a hundred thousand dollars is gone quickly if not cared for!

In Any Case

Never underestimate the power of a professional, seek advice from trusted sources like a bank and stay away from salespeople who may be making a percentage of that hard won money. Endeavor to stay healthy, and sleep on major decisions. You can't buy good company so be humble with lottery winnings!