Why lottery winners become poor [2023]

Why lottery winners become poor? Do you know what happens with 70% of lottery winners after winning a huge amount see this

Why lottery winners become poor
Why lottery winners become poor | src- The US Sun
Why lottery winners become poor
Why lottery winners become poor | src -New York Post
Why lottery winners become poor
Why lottery winners become poor | src – Yahoo Finance

If you see the lottery winners no matter if they win a million or a billion they go broke.

Do you know how much time it takes most lottery winners to go broke?

So according to National Endowment For Financial Education, 70% of lottery winners become poor within a few years. Whereas CNBC says it almost takes 3- 5 years for lottery winners to declare their bankruptcy sometime it becomes a far worse situation after winning the lottery.

Now you all are thinking how can winning a lottery become a curse for many people right?

Don’t worry I will tell you the three main reasons why lottery winners become poor after winning a huge amount of money.

No.3 They don’t know Money Management

Yes, it’s true go and ask lottery winners why they become poor after winning such a huge amount they will say because of money management.

Tell me one thing if you eat two times a day and suddenly you will eat 10 times a day what will happen to you yes you guess it right. Might there be a high probability that most of you will do vomiting, you will have a stomachache and other symptoms right?

Why because you are not trained to digest 10 times a day you were trained to digest food 2 to 3 times right? Although the food was healthy you don’t know how to digest it which causes disadvantages to your health.

In the same way, the lottery winners who win the lottery don’t know how to manage so much amount so they fail to manage it I hope you got the point friends.

No.2 They don’t have control over emotions

One of the main reasons you notice in successful people is that they have a very good command of their emotions. Whereas every unsuccessful people lack this discipline.

The same happens with lottery winners they don’t have that control over emotions. That’s the reason as soon as they see the winning amount they try to fulfill all their dreams and desire as soon as possible.

Let me tell you one thing no matter how much money you have if you think to fulfill all your dreams and desires you will find your bank balance short seriously.

This happens with every lottery winner that’s why many of them go broke.

No.1 They lack Personal Finance

Understand this point carefully my dear friends, you can’t deny the fact that the whole world runs on money, and every individual deals with money. I had not seen any single people who don’t use money and I think you had too not seen right?

You need to make sure that you should know what is budgeting, how to save money, what things stop you from becoming rich, money management, etc in order to help you out I made this channel.

Now you know why lottery winners become poor now you can read Rich vs Poor Difference or read 20 Habits of successful people.

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