Powerball Daydreaming: The Financial Litmus Test

Creative Commons by Andrew Pons

Creative Commons by Andrew Pons

Though the odds of winning are quite slim, I did have a good deal of fun during Powerball mania.  Coworkers stopped by my office to chat about their daydreams and stories bounced around about the wild ways people reacted when they mistakenly believed they won.  Groups have been formed, alliances made, contracts drawn up — all over the possibility of throwing your predicted life path out the window.

So even though we are all losers today, we can still take something away from the fun week in millionaire la-la land.  Besides, what have you got to lose to join in on the daydream?  $2? And throughout it all, I had a fun time analyzing the three stages of lottery mania and what each one says about your financial literacy and health, your relationship with your lifestyle, and your overall anxiety.  We may not be millionaires (and if you are, would like you to fund my writing/acting career?), but let’s at least try to learn a little something about ourselves.

Stage One: Bandwagon Justification Stage

I, like most people I know, only buy Powerball tickets when the jackpot reaches an absurd number like $90 million.  And yet, today, after three people won the prize, it has dropped to a still impressive $40 million.  No small peanuts.  And so sarcasm and judgement abound online today, pointing out that logical people would ideally play in every drawing, since even 1 million dollars would change your life. But at the end of the day, we have to ask: why we are actually buying them at all?  For me, jumping on the bandwagon means two things:

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