Is Playing The Lottery Worth The Gamble?
We all have high hopes that one day our luck
will change and we will win the lottery. While this
dream is exciting to fantasize about, what are
the odds that millionaire status is in your future?
According to CNN
, your odds of winning the
Mega Millions jackpot are 1 in 302,575,350 and
your odds of winning the Powerball® jackpot are
only slightly better at 1 in 292,201,338.
Consider this: If you purchase one $2 ticket per
week, you'll spend $104 a year. This total may not
seem like much, but over time, say 30 years,
it can add up to $3,120. If you play the lottery
more often and buy one $2 ticket every day, you're
spending $730 annually, equaling $21,900 over
30 years. Now, think about if you had invested
those dollars. You'd be earning interest
money over time.
If you're tight on funds and struggling with credit
card debt, playing the lottery can drain your
income and your potential savings.
You may be wondering; "If I am not buying a
lottery ticket, how should I invest my extra $2 a
day?" It really depends on your financial goals and
the amount of debt you currently have. Consider
creating a spending plan. This would allow you to
start saving for the life that you dream of. Do you
want to save for a vacation, build an emergency
fund, prepare for a baby or remodel your home?
Once you have a savings plan in place to manage
your debt, the future is yours. You can then
focus on investing
in long-term goals like putting
that extra money from your paycheck towards
your retirement, owning a home or paying off
Do you need help creating a spending plan?
GreenPath Financial Wellness can help. GreenPath
offers free financial counseling
tools to support your financial health. Our
professional, caring financial experts will work with
you to assess your situation, explain your options,
and help you create a spending plan that meets
Don't take the gamble. Invest wisely.
Did you know that debt can often lead to financial
stress? According to the GreenPath Outcomes
Survey, the stress caused by personal finances fell
by 13% in 6 months after a GreenPath counseling
session. What are you waiting for? Financial
wellness is within reach. Visit greenpathref.com
or call 877-337-3399 to learn more and speak with
a financial expert.
EDUCATIONAL WEBINAR: OPTIONS FOR
DEALING WITH DEBT
If you are dealing with debt, you are not alone.
Join us on September 17th at 12:30pm ET for our
upcoming webinar, Options for Dealing with Debt
Join us to explore the pros and cons of various
debt repayment strategies, learn how much
debt is too much, and how to avoid debt problems
in the future. Visit greenpath.com/gfw-webinar