Is Playing the Lottery Worth the Gamble?
- September 27, 2019
- By: Greenpath Financial Wellness
Partner with GreenPath to create a spending plan that puts you on the path to financial wellness
We all have high hopes that one day our luck will change and we will win the lottery. While this dream is exciting to fantasize about, what are the odds that millionaire status is in your future?
Odds of winning the lottery
According to CNN, your odds of winning the Mega Millions jackpot are 1 in 302,575,350 and your odds of winning the Powerball® jackpot are only slightly better at 1 in 292,201,338.
If you’re tight on funds and struggling with credit card debt, playing the lottery can drain your income and your potential savings.
You may be wondering; “If I am not buying a lottery ticket, how should I invest my extra $2 a day?” It really depends on your financial goals and the amount of debt you currently have. Consider creating a spending plan. This would allow you to start saving for the life that you dream of.
Do you want to save for a vacation, build an emergency fund, prepare for a baby or remodel your home? Once you have a savings plan in place to manage your debt, the future is yours. You can then focus on investing in long-term goals like putting that extra money from your paycheck towards your retirement, owning a home or paying off your mortgage.
Do you need help creating a spending plan?
GreenPath Financial Wellness can help. GreenPath offers free financial counseling and educational tools to support your financial health. Our professional, caring financial experts will work with you to assess your situation, explain your options, and help you create a spending plan that meets your goals.
Don’t take the gamble. Invest wisely.
Did you know that debt can often lead to financial stress? According to the GreenPath Outcomes Survey, the stress caused by personal finances fell by 13% in 6 months after a GreenPath counseling session. What are you waiting for? Financial wellness is within reach.
Call us today! It’s free and confidential.