There's a report in the news that a man won the lottery twice, a total of over 1.4 million, and is now 40k in debt after a bout of overspending. He started a failed business venture, he purchased many lavish cars and a big home, exotic holidays galore, lent money to family and friends that was never paid back, he borrowed money from the bank and private companies towards the end.
He says "It's made a mess of my life". No, he made a mess of his own life, and didn't even put aside money in trust funds for his children. He was given financial advice by the lottery organisers, but chose to ignore it. This shows that without a financial plan, money is easily lost. Money is just a tool. Money is not bad, it's the person who uses it who needs to look in the mirror for anything to blame.
The story highlights that money doesn't change you, but it changes the people around you. They see a rich person as a free cash machine and have no respect for his money and only try to get what they can, with no intention of paying it back.
He won the lottery purely by random chance, yet he lost it all by not having a basic financial plan. I want to start playing the lottery a bit more now, because I want some of that cash. I'm unlikely to win it, but if I do, I'll do a much better job with it than he did, and be much happier than he was.
His mind was not prepared to accept money, that's why he lost it all, and more. The character Sira in the book "The Richest Man in Babylon", says of wealth, that water always finds its level. If you have a high wealth mindset, your finances rise, but if you have a low poverty mentality then nothing will stop you from being poor, not even a million pounds.
He says "It's made a mess of my life". No, he made a mess of his own life, and didn't even put aside money in trust funds for his children. He was given financial advice by the lottery organisers, but chose to ignore it. This shows that without a financial plan, money is easily lost. Money is just a tool. Money is not bad, it's the person who uses it who needs to look in the mirror for anything to blame.
The story highlights that money doesn't change you, but it changes the people around you. They see a rich person as a free cash machine and have no respect for his money and only try to get what they can, with no intention of paying it back.
He won the lottery purely by random chance, yet he lost it all by not having a basic financial plan. I want to start playing the lottery a bit more now, because I want some of that cash. I'm unlikely to win it, but if I do, I'll do a much better job with it than he did, and be much happier than he was.
His mind was not prepared to accept money, that's why he lost it all, and more. The character Sira in the book "The Richest Man in Babylon", says of wealth, that water always finds its level. If you have a high wealth mindset, your finances rise, but if you have a low poverty mentality then nothing will stop you from being poor, not even a million pounds.
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