Quote from: Cryptmuster on December 03, 2024, 11:01:13 AM

Quote from: Dave1 on December 03, 2024, 09:18:34 AM

Yes, and that is the thing, they are going to spend most of their money and not thinking about tomorrow, and also giving gifts to other people as well. So it could really back fire on most of us won the lottery and then spend it all and in matter of years, broke again.

Everything should be done in moderation, and maybe some of us haven't experience a life changing winning, but if we do, we can only hope as well that we will not fall for this category and we will handle our money in a good way and not spend it all.

Perhaps it will never happen to any of us who are discussing this, and now it seems that each of us could do something wise with money, invest it profitably, start a profitable business and so on, but in fact, competent money management is not such an easy task as it may seem. Sometimes even those who have a lot of money start a business that can fail, so it is difficult to say who and how will be able to manage money until he receives it and starts doing something.

Money management is important, as is the preplan and spending limits. When we've got a good sum of money, we just keep on spending without making calculations on what we've got back as profit. Whenever we throw our money into business, we need to have the limits on spending, how long it takes to get the capital investment back, and all. If we keep on spending without looking upon the return, it is like keeping on risking as if we do with gambling. Whenever there is a big win, they think they've got big money and start spending without limits and calculation. Money dissolves in seconds, and they don't realise it. When they start realising everything could've gone out of hand.