Dave Says: Playing the lottery robs you of your future

Dear Dave,

I’ve been struggling financially for the past few months, so I’ve been playing the lottery once a week. To me, the chance to win millions is worth a few dollars a month, even if things are tight.

Paula

 

Dear Paula,

You’ve told me you’re having money troubles, and at the same time you’re throwing money out the window every week? Honestly, the small amount you’re talking about doesn’t make a difference. Even if it’s just two or three bucks a week, that action represents a lot of financially irresponsible behavior in your life.

I’m going to be very blunt with you. The lottery is a tax on the poor and people who can’t do math. Your chances of winning are bleak at best. Did you know the odds of winning the Powerball jackpot are about 1 in 292,000,000? There are plenty of other very unusual things that are much more likely to happen to you than winning the lottery. Your chances of making a hole-in-one on the golf course are about 1 in 12,500. Even your odds of having quadruplets are around 1 in 11 million.

When times are tough and you’re strapped for cash, the last thing you need to do is spend what little you have on gimmicks. My advice is to focus on working hard, living on a tight budget that cuts out all unnecessary expenses, and saving every penny you can. Unlike the lottery, this is a plan that works every time. When you start living on a budget and get out of debt, it provides a little bit of breathing room in your life. You might even feel like you got a raise!

Don’t let your finances—and your dreams—be hijacked by the lottery.

  —Dave

 

* Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money MakeoverThe Dave Ramsey Show is heard by more than 16 million listeners each week on 600 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.

Blogs

Brian Joyce Unfiltered

Brian Joyce Unfiltered

Tune in to Chattanooga’s most outspoken talk host and business owner, Brian Joyce, as he addresses the hottest local and national issues on “Unfiltered” with Brian Joyce. With a career spanning two decades, Brian has built a reputation as the only talk host and small business owner in Chattanooga willing to take on the powers-that-be, take…

Jed’s Back!!!

Jed’s Back!!!

– Cumulus Media (NASDAQ: CMLS) announces that it has appointed Jed Mescon as Program Director and On-Air Host for Talk Radio 102.3 FM in Chattanooga, TN. Mescon will debut on WGOW on Monday, August 21st, and can be heard weekday mornings from 6:00am-10:00am.  Mescon brings 28 years of morning programming experience on local television to WGOW, and most…

Sport Talk & BodyArmor Shine the Spotlight on Area Seniors

Sport Talk & BodyArmor Shine the Spotlight on Area Seniors

  Talk Radio 102.3, Sport Talk and BodyArmor want to spotlight amazing senior athletes from around the Tennessee Valley.  These kids deserve their spotlight and we are going to feature as many of them as we can on Sport Talk. Submit your athlete nomination now by e-mailing [email protected] Every Wednesday @ 4:30 and Friday re-play…