Bankrupt Lottery Winners

That is kind of funny but it make sense,people who win the lottery probably let the money go to their head since it is not their money and it makes them spend happy and then they end up losing everything,and not I have not ever won the lottery and it is not all that good to win if you ask me,since I am sure Uncle Sam taxes lottery winnings like he does everything else so you only get so much money in the end that and if the wrong people find out you won the lottery they might try and rob you and kill you for the money,and life is more important then money,because money can be replaced people can not.

I have often played the *if I won the lottery* game and wondered what I would do with a huge sum of money. I guess I would have to invest most of it to keep it safe, and still have some to treat myself and my friends. I think there are some people who can't seem to grasp the concept that even a large amount of money won't last unless you are sensible. They splash out on houses, cars, holidays etc., and before they know it, the money's all gone. The most I have ever won in the UK lottery was £10, so no danger of me splashing out :-)

I've always thought this was strange. There was a whole series dedicated to former lottery winners on one of the cable stations, and so many of them had their lives plunge into disaster after winning their fortune. Maybe it's because they never knew how to manage money beforehand, and afterward they just went nuts with their money.

I haven't won anything yet in the game of chance be it lottery, raffle draws, or mafia wars daily ticket. I think you are right when it comes to spending money that you didn't really "earn". It just like when they say easy come, easy go.

Yes, I've heard of it too. I think the main reason why these people lose their winnings so quickly and easily in a short period of time is because they don't know how to manage their finances. They have never had so much money before, and when they suddenly become rich, they get so excited by it and they started to squander it on big houses, luxury cars, yachts, jewellery, etc. They didn't realize they are adding more liabilities instead of increasing their assets. That's how some of these lucky lottery winners become unlucky bankruptees. I do buy lottery once in a while, but have never won a cent till today. LOL!

Yea they'd probably squander it. Also , what with the pressure from all the people they know to give money to them, you'd expect a sizable portion of the winnings to be given away.

no i have never won the lottery best i ever did was about 600.00 in a casino, which isn't too bad, but if i ever did win the lottery i sure would not take that money for granted. i would make sure i put some aside for the taxes and make sure i put a lot of it in the bank, because with that much money I'm sure it would be really easy to want to go spend, spend, spend. if you are fortunate enough to be lucky enough to win a lottery jackpot you need to make sure that you make the money last so you don't have to worry about money for the rest of you life, but that would be if you won something big like the powerball or something like that.

My husband once won $6,000. however, we knew we were in debt and we used it to make advanced payments. But people that win the lottery don't set their priorities. The first thing you need to do is set up many different accounts, most of them for like college funds, let most money work for you. Yes I know we all wish for the Win Fall and we want to do stupid things. We already have homes and we find the need to get a new one, or we can't say NO to all the people that come by with their financial woes and you hand them a few bucks. But you have to open up like five or six different accounts, for down the road.