When I listen to the Dave Ramsey podcasts on my way into work, I am surprised to hear about people winning the lottery. There have been at least two people that I can remember that have won a sum of money over $100,000. This has always bothered me. I’m glad for the people who won, but I don’t see the sense in spending money on the lottery. From what I’ve heard, I have never heard Dave talk about NOT buying lottery tickets. These people may have won, but how much did they spend over a lifetime getting these lottery tickets?
I don’t know how you feel about the lottery, but I think it’s a waste of money. When the jackpot gets over $50M, people around work come around asking if I want to “get in” on the tickets. Never have I contributed. They always say, “You’ll be sorry when we win…” My response is: “You love me so much, you’ll give me a portion of your winnings. I know you will. What’s $100,000 when you win $4M?” I feel that the money spent on these tickets could be used for better things (like paying off debt!)
I will admit, I have gone to a hand-full of casinos. I know this is just as bad as the lottery. I have a limit of $20 when I go. And a lot of times, I come out a little bit ahead. One time, my mom took me to the casino for my birthday and gave me $100. She insisted I use the money she gave me on the slots. I’m glad she made me, because I went home with over $250! These trips are few and far between.
This may make me a hypocrite, but I still think it’s a waste of money. Whether you blow your money on the lottery OR casino, it’s the same difference in my eyes.