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

• Artist77

  

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  May 28, 2013, 7:32 pm

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  In response to THRIFTY

  Quote: Originally posted by THRIFTY on May 28, 2013

  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.

  
• THRIFTY

  

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  May 28, 2013, 7:39 pm

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  Quote: Originally posted by Artist77 on May 28, 2013

  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.
• Artist77

  

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  May 28, 2013, 7:50 pm

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  Quote: Originally posted by THRIFTY on May 28, 2013

  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.

  
• THRIFTY

  

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  May 28, 2013, 7:59 pm

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  Quote: Originally posted by Artist77 on May 28, 2013

  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.
• Artist77

  

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  May 28, 2013, 8:08 pm

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  Quote: Originally posted by THRIFTY on May 28, 2013

  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.

  
• yoho

  

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  May 28, 2013, 8:11 pm

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  In response to Artist77

  Quote: Originally posted by Artist77 on May 28, 2013

  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

  

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  May 28, 2013, 8:21 pm

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  Quote: Originally posted by yoho on May 28, 2013

  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
• Artist77

  

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  May 28, 2013, 8:29 pm

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  In response to THRIFTY

  Quote: Originally posted by THRIFTY on May 28, 2013

  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.

  
• billionaire2bee

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  May 28, 2013, 9:29 pm

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  Quote: Originally posted by THRIFTY on May 28, 2013

  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
• rowlettewheel

  

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  May 28, 2013, 9:36 pm

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  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
• chrissy16

  

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  May 28, 2013, 9:50 pm

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  In response to Artist77

  Quote: Originally posted by Artist77 on May 28, 2013

  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.

   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.

       
  
• chrissy16

  

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  May 28, 2013, 9:52 pm

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  In response to Artist77

  Quote: Originally posted by Artist77 on May 28, 2013

  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!

       
  
• chrissy16

  

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  May 28, 2013, 9:53 pm

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  In response to billionaire2bee

  Quote: Originally posted by billionaire2bee on May 28, 2013

  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

  

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  May 28, 2013, 10:56 pm

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  Quote: Originally posted by THRIFTY on May 28, 2013

  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

  

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  May 28, 2013, 11:34 pm

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  Quote: Originally posted by rdgrnr on May 28, 2013

  THRIFT-MEISTER,

  Take your meds and go to your happy place.

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

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