Do you believe in 'easy come easy go' where money is concerned?

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   telltaleposted 14 years ago

   Do you believe in 'easy come easy go' where money is concerned?
   
   Many a time I have read in news or magazines that people who struck lotteries lose it all in a short time, why is this so?

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2. 61

   pisean282311posted 14 years ago

   ya it is true but it has more to do with lack of financial knowledge ..money coming is great thing but investing in assets which in turn automatizes money flow is another thing..if one keeps buying things which dont make money surely cash would dry up..

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   comfortcareposted 14 years ago

   People who have not worked hard to accumulate vast amounts of wealth have little appreciation of what it takes to do so.  Because these people have no experience and no education as to the proper handling of wealth, they tend to spend it as they do the rest of their money.  Since most of the people who win these lotteries are generally poor to middle class, the amount of money won in lotteries generally exceed their earnings by many times.  They get excited at the prospect of being able to obtain everything they had ever dreamed about and go about spending their money instead of looking for ways to make more (which is the way the rich think.)

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   stricktlydatingposted 14 years ago

   Having an 'easy come easy go' attitude towards your finances, seems irrisponsible.  It's better for your lifestyle to take some responsibility with your income and spending.

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   domaincomebuyposted 14 years ago

   If something is too easy to obtain, we don't treasure. Also, it is lack of self-control and ability to manage money.

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   Wayne Brownposted 14 years ago

   Not necessarily. I think it has much to do with the nature of the person who possess it.  When easy money comes to frugal people, they generally don't change their personality and become big spenders, they just celebrate their gain. On the other hand, individuals who are prone to poor spending habits do not react much as to whether the money they came by was easy or hard. Either way, they are going to spend it and save little if any of it.  So the basis for the problem lies more with the individual makeup than anything else.

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