Negative Effects Of Winning The Lottery

Could you imagine winning thousands or even millions overnight? The exhilaration of receiving such an abundant amount of sudden wealth would almost be enough to send one into shock. Money can have substantial effects on an individual and their family’s life. As a result, bills become easier to pay, luxury items that were once unaffordable can be purchased without second thought, and the lifestyle a once person lived changes drastically. Most believe winning the lottery is prerequisite for a life with infinite wealth and happiness, however, due to ignorance of taxes, excess spending and lack of financial direction, winners, far too often find themselves wondering where the money they once had went, and how it went so fast.
When the lottery is being advertised on billboards, TV and other media

Although this seems like a blessing, spending money in an excess fashion on expensive goods can also contribute to the downfall of most lottery winners. In a recent study by the Camelot Group it was found that, “44% of those who have ever won large lottery prizes were broke within five years” (Edelman, 2016, para. 4). For example, in 2013 a woman by the name of Sharon Tirabassi won the lottery of worth more than $10,000,00 however, she would soon find out that her money would soon be gone. “Today, after spending almost all her winnings – ‘big house, fancy cars, designer clothes, lavish parties, exotic trips, handouts to family, loans to friends’ -- she's back in the working class: riding the bus, working part-time, living in a rented house” (Murphy, 2013, para. 3). Despite the large sum of money Sharon won, the carelessness in spending put her in a position to lose almost everything she won from the lottery. Between her trips, cars and other expenses the money she once had decreased in a dramatic