The Motley Fool has some tips on how to teach kids about the lottery. They suggest showing children some sort of physical manifestation of what the odds are really like. I think that’s a great idea for demonstrating how money is wasted.
While we’re talking about the lottery, MSN Money also has an article about lottery winners who are back to being mighty poor again.
“Winning the lottery isn’t always what it’s cracked up to be,” says Evelyn Adams, who won the New Jersey lottery not just once, but twice (1985, 1986), to the tune of $5.4 million. Today the money is all gone and Adams lives in a trailer.
Updated February 6, 2012 and originally published November 19, 2004. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.