What would you do if you won the lottery?
We all have dreams and wishes which we hope to realize in this life. To realize most of our wishes such as traveling, building a dream house or buying a yacht we need one thing – money. For the majority of people, money doesn't come easy. However, there are few lucky ones who get huge sums of money in a matter of a day by winning a lottery.If you are among that few of lucky people, congratulations to you, but don’t get too excited yet. Whether they win $100 million or $1 million, nearly 70 percent of lottery winners lose or spend all of their money in five years or less. If you don’t know what to do next with your win, you should avoid these 3 mistakes that lottery winners usually make.First of all, don’t tell anybody that you won the lottery, even to your relatives. If you had done so, tell them that you were joking. Why shouldn't you share your happiest moment of your life? Because people get jealous and no matter if they are your friends or relatives, you don’t know what jealousy can do to people. The last thing you want in your life is knowing that people will hate you for your luck.Second, don’t call your boss and send him to hell right away, because you still need that job. No matter how much money you currently have right now, that money can be spent so fast, that you won’t even notice. You still have a lot of financial planning ahead of you. Stay silent, plan and continue to live the same ordinary life that you always had lived.Third, it would be a good idea to secure yourself with the financial advisor. You are probably wondering why you should hire someone who will just eat into your savings? However, a professional will help you make right financial decisions and invest your money in something profitable. You don’t want to spend your money, it is much better to invest into something that will generate passive income and help you live indefinitely of that money.Winning a lottery does not mean that you can relax right away and enjoy the rest of your life. Many people win big and lose big at the same time because they haven’t planned well what to do with their money. Take an example of famous millionaires – even though they are rich, they still have to plan where to invest and how much to spend their finances.
A man came into a shop and stole 200 dollars from the register. The man came back minutes later with the same 200 dollars and bought 150 dollars in items. I gave him 50 dollars in change. How much did I lose?
Technically you have lost $400 dollars.Follow my thinking here with me:The first $200 that was stolen from the cash register.The next $150 because even though he came back and bought stuff with that stolen money, it's still a loss because it was paid for with stolen money. Think of it as having an extra $150 stolen from the drawer.Finally, the $50 in change that was given. The thief just got paid to steal money from this store.Now that the thief has gotten away with this, they will continue to try that same thing over again, especially at this storeThis is very similar to the training that is given to cashiers about quick change at artists especially around the holidays.
Should TEENS GO TO JAIL for SHOPLIFTING UNDER $100.00?
jails is indeed quite excessive for teens. its an awful experience and they do not need a criminal record. shoplifting is not legal. but jail-time is really not the best solution
A man buys a purebred dog for $500. He sells the dog for $1000. He then buys the dog back for $1500, and he sells the dog again for $1000. In the end, how much money did the man make or lose? Or did he break even?
At initial time (t0) the man spent $500… this is a deduction of his funds so at t0 = -500Following this logic, we see that at t1 (some time later), the man sells the dog for 1000. This is a credit so +1000 i.e. t1 = -500 + 1000 = 500.Again some time later at t2 the man buys the dog back or deducts 1500 so t2 = 500 - 1500 = -1000Then selling the dog for 1000 at t3 he credits 1000 so t3 = -1000+1000=0This means three things:The man is a terrible businessman. Had he spent no time and effort and risk he would have made the same amount of money that is none.Technically the man “lost money” on opportunity cost… while wasting time buying and selling for a nett result of zero he could have used his money somewhere else that generated revenue like an investment.I’m tired so may have made a math error on the train and thus making a fool of myself.