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Playing The Mega Millions And Powerball Lottery Games Is Very Expensive $15,600.

Topic closed. 110 replies. Last post 4 years ago by THRIFTY.

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Artist77's avatar - batman14

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January 16, 2012
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Posted: May 28, 2013, 7:32 pm - IP Logged

You will never recover the OPPORTUNITY COST of spending $20 or $30 weekly playing the lottery, unless you win a second prize or the jackpot. Your average win has to be at least $50,000 dollars every 10 years on any lottery game to be a winner. Spending $10,400 or $15,600 in 10 years playing the lottery is insane.

Thrifty, do you own a home? Is it paid off?  Do you have a huge IRA?  Save it for the people who will miss the money. If you put a dollar value on every little thing, I think you will miss out on some fun things in life. Will you recover the costs for your first prom?  No. Will you recover the costs for the wedding gift for your college roommate? No.  What about vet bills?  Maybe better to get rid of the pets to save money? Now if someone has massive debt, they probably should only spend a very small amount, if at all on the lottery but I am not that case. People who cannot manage money will aways find something to waste money on so the lottery is better than a lot of other options.

J'aime La France.

    THRIFTY's avatar - great seal_obverse.jpg
    NEW YORK
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    Posted: May 28, 2013, 7:39 pm - IP Logged

    Thrifty, do you own a home? Is it paid off?  Do you have a huge IRA?  Save it for the people who will miss the money. If you put a dollar value on every little thing, I think you will miss out on some fun things in life. Will you recover the costs for your first prom?  No. Will you recover the costs for the wedding gift for your college roommate? No.  What about vet bills?  Maybe better to get rid of the pets to save money? Now if someone has massive debt, they probably should only spend a very small amount, if at all on the lottery but I am not that case. People who cannot manage money will aways find something to waste money on so the lottery is better than a lot of other options.

    Owning a home is an expense in accounting 101 my friend. Paid in full or not, a home is an expense. It is ironic playing the lottery is an expense too.

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    PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

      Artist77's avatar - batman14

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      Posted: May 28, 2013, 7:50 pm - IP Logged

      Owning a home is an expense in accounting 101 my friend. Paid in full or not, a home is an expense. It is ironic playing the lottery is an expense too.

      So you rent?  Case closed.

      J'aime La France.

        THRIFTY's avatar - great seal_obverse.jpg
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        Posted: May 28, 2013, 7:59 pm - IP Logged

        So you rent?  Case closed.

        So you are spending $20 or $30 weekly playing the lottery? You have ZERO chance of winning $10,400 or $15,600 within 10 years playing the lottery. SAVE YOUR MONEY.

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        PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

          Artist77's avatar - batman14

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          Posted: May 28, 2013, 8:08 pm - IP Logged

          So you are spending $20 or $30 weekly playing the lottery? You have ZERO chance of winning $10,400 or $15,600 within 10 years playing the lottery. SAVE YOUR MONEY.

          I spend less than $20 actually. And I save my money quite well. Again, do you own a home? Are you debt free?  I am.

          J'aime La France.

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            Toronto
            Canada
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            January 26, 2013
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            Posted: May 28, 2013, 8:11 pm - IP Logged

            Thrifty, do you own a home? Is it paid off?  Do you have a huge IRA?  Save it for the people who will miss the money. If you put a dollar value on every little thing, I think you will miss out on some fun things in life. Will you recover the costs for your first prom?  No. Will you recover the costs for the wedding gift for your college roommate? No.  What about vet bills?  Maybe better to get rid of the pets to save money? Now if someone has massive debt, they probably should only spend a very small amount, if at all on the lottery but I am not that case. People who cannot manage money will aways find something to waste money on so the lottery is better than a lot of other options.

            Getting rid of pets not only saves money but loads of unnecessary work. In addition to saving time and energy, you are also free from the noise pollution and destructive tendencies of such creatures.

             

            I strongly suggest everyone getting rid of them. Especially those hideous creatures called dogs

              THRIFTY's avatar - great seal_obverse.jpg
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              Posted: May 28, 2013, 8:21 pm - IP Logged

              Getting rid of pets not only saves money but loads of unnecessary work. In addition to saving time and energy, you are also free from the noise pollution and destructive tendencies of such creatures.

               

              I strongly suggest everyone getting rid of them. Especially those hideous creatures called dogs

              The advanced civilizations of the universe will never come to planet earth. They are afraid of owning a home or becoming addictive to playing the lottery in our planet. We are the pets of the universe. Lol

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              PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                Artist77's avatar - batman14

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                Posted: May 28, 2013, 8:29 pm - IP Logged

                The advanced civilizations of the universe will never come to planet earth. They are afraid of owning a home or becoming addictive to playing the lottery in our planet. We are the pets of the universe. Lol

                Thrifty, you lost me when you equated owning a home to playing the lottery. Be sure to look up the concept of "net worth." My home is worth 3 times plus what I paid for it. Being thrifty is one thing, never taking opportunities and never growing up in life is silly.

                J'aime La France.


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                  Posted: May 28, 2013, 9:29 pm - IP Logged

                  Spending $5 on Mega Millions and $10 on Powerball for every drawing equals $30 a week or $1,560 for the year. You will be down $15,600 in 10 years, if you do not win any major prize.

                  But you could be the one who hit it the first time out....but I like how you add stuff up....now estimate how much we're spending on gas driving to and from work each week...I'll bet most of us would be millionaires faster than if we saved the money we spent on lottery tickets

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                    LAKE HAVASU AZ
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                    Posted: May 28, 2013, 9:36 pm - IP Logged

                    i spend fifty a day ...i'll make more tomorrow  .plus i turn about thirty a year playing lottery some i'm up 15+.can't win every day and cant take it with me.......

                    some day....some day

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                      Posted: May 28, 2013, 9:50 pm - IP Logged

                      Thrifty, do you own a home? Is it paid off?  Do you have a huge IRA?  Save it for the people who will miss the money. If you put a dollar value on every little thing, I think you will miss out on some fun things in life. Will you recover the costs for your first prom?  No. Will you recover the costs for the wedding gift for your college roommate? No.  What about vet bills?  Maybe better to get rid of the pets to save money? Now if someone has massive debt, they probably should only spend a very small amount, if at all on the lottery but I am not that case. People who cannot manage money will aways find something to waste money on so the lottery is better than a lot of other options.

                      I Agree! Opportunity Cost, just what I thought, trying to speak like an economist.  Next we are going to be learning about Sunk Cost.  Maybe thrifty is on the wrong website.

                           

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                        Posted: May 28, 2013, 9:52 pm - IP Logged

                        Thrifty, you lost me when you equated owning a home to playing the lottery. Be sure to look up the concept of "net worth." My home is worth 3 times plus what I paid for it. Being thrifty is one thing, never taking opportunities and never growing up in life is silly.

                        Nice!

                             

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                          Posted: May 28, 2013, 9:53 pm - IP Logged

                          But you could be the one who hit it the first time out....but I like how you add stuff up....now estimate how much we're spending on gas driving to and from work each week...I'll bet most of us would be millionaires faster than if we saved the money we spent on lottery tickets

                          Well said

                               

                            rdgrnr's avatar - walt
                            Way back up in them dadgum hills, son!
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                            Posted: May 28, 2013, 10:56 pm - IP Logged

                            HOW COME THE SAVING RATES FOR THE AVERAGE AMERICANS ARE SO LOW?

                            THRIFT-MEISTER,

                            Take your meds and go to your happy place.

                            I'm startin' to worry about you, my brotha' from anotha' motha'.

                              THRIFTY's avatar - great seal_obverse.jpg
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                              Posted: May 28, 2013, 11:34 pm - IP Logged

                              THRIFT-MEISTER,

                              Take your meds and go to your happy place.

                              I'm startin' to worry about you, my brotha' from anotha' motha'.

                              JOHNNY CASH LYRICS.

                              "I'm Free From The Chain Gang Now."

                              I got rid of the shackles that bound me and the guards that were always around me

                              There were tears on the mail mother wrote me in jail

                              But I'm free from the chain gang now

                              All the years I was known and respected 'til one day I was wrongly suspected

                              I was shackled in chains in a cold freezin' rain but I'm free from the chain gang now

                              [Guitar]

                              All the years I was known by a number how I kept my mind is a wonder

                              But like a bird in a tree I got my liberty and I'm free from the chain gang now

                              I got rid of the shackles that bound me and the guards that were always around me

                              There were tears on the mail mother sent me in jail

                              But I'm free from the chain gang now

                              There were tears on the mail mother wrote me in jail

                              But I'm free from the chain gang now.

                              US Flag

                              PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!