Over 300 million jackpots. Why are so many big winners going bankrupt?

It has been said that money is the root of all evil. I don’t know if this is true and I certainly wasn’t thinking about it when I bought what turned out to be a waste of Mega Millions tickets today.

It was a $ 4 investment in light entertainment, I guess. But, what would I, what would you do, if we had won this $ 306 million prize? Were we going to feed the hungry, buy a fancy house, hire people to help us think of ways to spend it? It turns out that a lot of people who suddenly find themselves with a lot of money are really good at losing everything.

People who win big lottery jackpots or other great deals often skip it

According to the National Endowment for Financial Education, around 70 percent of people who have won big lottery jackpots or come into possession of large sums of money all at once end up going bankrupt and up to a third of them go bankrupt. between them file for bankruptcy. .

Why do the big winners so often lose everything?

My answer, they are complete and complete idiots! Come on friends, how hard can it be to pay some bills, prepare yourself and your family financially, and then slip into a comfortable and conservative financial groove? Apparently, it doesn’t normally go like this.

Spending like the proverbial drunken sailors, making extraordinarily bad investment decisions, receiving and following terrible financial advice, and having little or no knowledge of how to handle finances are some of the most common and obvious reasons. Some of these temporary millionaires are bombarded with demands for money from all quarters – cousins, friends, family members and complete strangers lost to follow-up. It’s hard to say no, apparently, and so they don’t.

Big Mega Millions and Powerball jackpots – well over $ 300 million

No big winner at the Mega Millions Jackpot on Tuesday, so the jackpot is estimated at $ 323 million for Friday’s draw. The Powerball jackpot for Wednesday’s draw is estimated at $ 345 million.

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These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to withdraw a few cents. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]
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