Gain Wealth Slowly - It’s The Only Way
Not long ago I wrote a post on Lottery tickets and what a waste of money they are. Well I just read an article over at MSN Money that tells the story of eight lottery winners in America and how they lost it all.
The article describes eight winners of various lotteries all over the USA and how they blew all the winning and ended up broke, some living off welfare.
Their stories are hard to believe, but it is an all too common story. And it is what happens to a lot of people who have never learned how to deal with money when they suddenly end up with a win-fall.
After reading the article I realised that budget and saving and investing isn’t only about saving money for later in life or simply about getting debt-free, it is also about learning the fundamentals of money management.
Gaining wealth slowly, over time, is the best way to become wealthy not only because you appreciate it so much more but because you understands the fundamentals of wealth management and can make wise and informed decisions about what you are going to do with it.
Something those eight people from the article know very little about.
Have you ever come into a lot of money? How did you handle it?
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Nice Site layout for your blog. I am looking forward to reading more from you.
Tom Humes