Americans spend over $1,000 a year on lotto tickets

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Americans spend over $1,000 a year on lotto tickets. (via CNBCMakeIt)

There are psychological reasons why Americans continue to play the lottery even though they know the odds,. Humans are wired to have unrealistic optimism when it comes to the probability of something happening, for one.

It's also a habit that's easy to rationalize, since a chance to play typically only sets you back a buck or two. "Similar to smoking, the lottery is easier to justify when you only buy one pack at a time or one ticket every day,""It looks a lot less tempting, though, when you consider the total sum of money spent."

If you are looking to curb your spending on guilty pleasures like lottery tickets, Clarke recommends creating a long-term financial plan that can then be broken down into a monthly budget. "If someone would like to accomplish other things like college savings, retirement savings or paying off debt, then having the plan to refer to helps remind you that they have a higher priority than this spending," Clarke says.

 

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MakeIt Of course they do ...It’s a tax on the stupid. Easier than working!

MakeIt You can’t win if you don’t play!

MakeIt Idiot tax

MakeIt Imagine taking that stack and..nvm...

MakeIt Not a real earth-shattering news article. Title could simply have been “Your Budget: Plan Your Non-Essentials”

MakeIt It’s a tax on stupidity.... I like to watch them line up at the gas station counter ordering tons of tickets. Keeps our taxes low

MakeIt The definite fact everone in the world is looking for, the americans are in fact retarded.

MakeIt *poor

MakeIt A tax on those bad at math.

MakeIt It’s beginning to look a lot like

MakeIt Not everyone does!

MakeIt Rebellions are built on hope

MakeIt With the poorest spending the most. Sad.

MakeIt In pursuit of the American Dream ...

MakeIt No wonder people are broke.

MakeIt It’s a cruel tax on the poor.

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