Stop Wasting Your Money On Lottery Tickets

by Pam on January 30, 2011

Too many Canadians are wasting at least $2 every week by buying lottery tickets. Although it is true that a lucky few do win big, most folks might get a free ticket once in a while, or win a minimal amount of money to keep them hooked.

If everyone who was in the habit of buying lottery tickets regularly decided to save their $2 every week instead, this would mean that they could save $104 per year.  Now over one year that doesn’t’ sound like much, but over 10 years that is a savings of $1040, not to mention interest or growth earned from the amount saved.

The next time you get the urge to buy a lottery ticket, why not start up an automatic contribution towards your savings or investment account instead, and contribute the equivalent amount that you would have spent on lottery tickets.  Label it your lottery account and use it for whatever you like.  If you let the funds accumulate you will be surprised at how much you can save.

Most people will never get rich from buying lottery tickets as wealth is generally created through hard work and determination.  Do not expect free hand outs from playing the lottery.  Be willing to work hard for what you want to accomplish, and by saving your money rather than wasting it on lottery tickets, you will be one step further ahead at achieving financial success.  Don’t rely on luck to get you where you want to go, instead plan ahead and use your money wisely.

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