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Tuesday, June 09, 2009
Dave Ramsey :: Townhall.com Columnist
Yet Another Student Loan?
by Dave Ramsey
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Was the Copenhagen Global Warming Summit Walk-Out a Win for the U.S.?


Edward

Dear Edward,

Here’s a thought. Just stuff ten bucks down your garbage disposal each month and save the cost of driving to the nearest convenience store.

Really, now, you can’t be serious! The lottery is a tax on the poor, and on people who can’t do math. I’m not riding a moral high horse. Research shows that people from lower income brackets, folks who can’t afford to be throwing their money away on some ridiculous game, spend four times as much on lottery tickets as anyone else. Rich people don’t mess with this garbage, because they know the lottery isn’t a wealth-building tool When was the last time you saw a line of BMWs and Mercedes’ pulled up to your local convenience store to buy lottery tickets?

The only winners in the lottery game are the students who get scholarships, but in reality they are riding to school on the backs of the poor masses who gamble away their grocery money.

Lots of people think winning the lottery will mean life on easy street. The truth, however, is that it rarely works out that way. Did you know that 65 percent of Lotto winners go bankrupt in less than 15 years? Your chances of winning big are about 125,000,000 to 1. You’re more likely to be bitten by a snake, or die in a car accident on the way to buy the stupid lottery tickets!

If you’ve got money to throw around, do something smart with it, like get out of debt! Do you have an emergency fund? Are you investing for your retirement, or your kid’s education? If you’ve done all of this, give it to someone who’s hurting, or invest it in your community. Don’t waste it on something as dumb as the lottery!

- Dave

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About The Author
Dave Ramsey is a personal money management expert, popular national radio personality and the author of three New York Times bestsellers.
 
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Popular Articles By Ramsey

Agree, Agree, Agree....
I've seen so many of my friends send their retirement funds to pay for the kids college. Now, they work because they have to. When the children work for their education, they would be more concerned with getting an education than finding the next keg party. I have no problem helping out the best I can, but it's not my job as a parent to put my wife and I in the poor house for my childs college education. College is NOT a god given right.

Dave Ramsey is my hero
Don't let these easy responses fool you. This guy is extraordinarily intelligent and if you listen to him you will be a better person financially and morally. He is much, much better on radio than he is writing a column.
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