“Become a millionaire not for the million dollars, but for what it will make of you to achieve it..” - Jim Rohn

The Lucky and the Lost:

5 Reasons Lottery Winners Go Broke within 3-5 Years

Winning the lottery is a dream come true for many people.

It’s the solution on many people’s lips …

“If only I won the lottery!! Then everything would be ok!!”

The idea of a sudden windfall of millions of dollars is undeniably tempting.

The stress of no money, not making ends meet and worrying about that next unexpected bill coming in is not nice.

I was with a guy once who said his family were the poorest at his boarding school.

Oh boo hoo.

It felt like my family was the poorest in public school, mate!

My mum went bankrupt at one stage as she got herself in a scary position of too much debt and not enough coming in.

Scary.

I know the impact of no money.

Yet, the reality is that 70% of lottery winners find themselves broke within 3-5 years of the win.

Why is this?

Here are 5 reasons why lottery winners don't keep their money.

1.Same patterns

How you live now, is how you’ll live anywhere with anything.

If you don’t change your patterns, your thinking in your neurology, you won’t change anything.

Your relationship with money will remain the same.

Think about this…

• Are you good at saving?

• Do you live pay cheque to pay cheque?

• Do you buy unnecessary stuff?

• Do you always feel like you don’t “have enough”?

How you feel about money now, will be exactly the same after a win.

No matter what you had in your bank – yeah, it might be on a grander scale…but?!

If you want to see money differently, change deep rooted patterns.

2. Boundaries

Winning the lottery can be isolating.

How many times have you heard someone say “if you won that money, you’d have to give me some?’

Friends and family may treat lottery winners differently - with some taking advantage of their new wealthy mate!

Who to trust?!

Add to the mix people pleasing and a lack of boundaries…

There’s a recipe for a money crash disaster!

If you lack boundaries now – what would be different when you had money in the bank?

The amount of people you’d have coming out of the woodwork!!

If you’re a people pleaser now – what would be different with a wad of cash in your pocket?

You’d feel like you had to say yes to everything!

And then, when you did say no – how would you feel?? How would people respond to that?

3. Financial knowledge

Ok, I’m going to lay it out straight.

If you think winning the lottery would solve all your problems…there’s a chance you aren’t making money and smashing the finances like the Warren Buffet’s of the world...!

Winning a large sum of money could be overwhelming.

Without the necessary knowledge and skills to manage this newfound wealth, it's easy to make poor decisions.

Not knowing how to invest, save, or budget (as mentioned about patterns!) is bound to lead to some costly mistakes.

Winning the lottery would be a life-changing event.

But if you were unprepared for the financial challenges it brings – what would be different for you? And yes, crying in a Mercedes instead of a Toyota is more appealing.

You're still crying though.

Would it be better to change your patterns now, rather than hoping and praying for that windfall to change your life?

What if you changed your thinking first…

And let those very changes were what allowed more money in??

Ps. I have not won a sum of money and nor do I believe I will – or want to!

I have though, changed my whole mindset on money!

On how much I need.

On the fear I felt with “not enough”.

I trust money will always come to me – in the amounts I am ready for.

I do believe I will make a large sum of money.

And that by changing clients patterns around money – they too can live lifes they’ve always dreamed of.

Pam is a former burnt out single mum and teacher and now is a NLP Trainer and Coach, helping women design lives they've always dreamed of.

Coming from average - schooling, grades, money...she's had to overcome her own struggles to choose a different lifestyle. To find out more, get in contact with Pam here.