For most of us, winning the lottery is probably one of, if not the biggest blessing we could ever get.

Isipin mo nga naman: Pag nagkaroon ka ng ilang milyong piso, pwede ka na mag-retire ng maaga, bumili ng kahit anong gusto mo, at maging financially free and happy.

‘Yun nga lang, hindi ito ang nangyari sa limang (5) taong pag-uusapan natin. These five “lucky” lotto winners did become millionaires, but they eventually lost it all and even became worse off than before!

Paano nangyari ito? At higit pa dito, ano ang kailangan nating gawin para siguraduhing hindi mangyayari ang financial disasters na ganito sa atin, manalo man tayo sa lotto o hindi?

Read and find out below.

Lotto PCSODionie Reyes wasted P14 million in just 3 months.

Noong 2008, nanalo si Dionie Reyes ng P14 million sa Lotto 6/42 ng PCSO.

At dahil gusto niyang maramdaman ang buhay ng milyonaryo, bumili agad siya ng bagong sasakyan: isang SUV — sa mismong araw na nakuha niya ang pera niya!

Aside from this, he immediately bought a house and lot, gave as much as P850,000 per person to friends and relatives, womanized, gambled, and frequently had drinking sessions.

Pagkatapos ng 3 maikling buwan, wala na siyang pera. May utang pa nga siya na P500,000! Worst of all, he underwent heart surgery in 2012 — and ironically, had to rely on PCSO’s charity arm to pay for it.

 

Lottery Michael CarrollMichael Carroll lived large and blew it all.

Nanalo ang basurerong si Michael Carroll ng £9.7 million (P705 million!) sa jackpot noong 2002. Kaso, dahil sa magara niyang pamumuhay — kasama na dito ang paggamit ng cocaine — nawala ang lahat ng pera niya pagkatapos ng 5 taon lamang.

Last we heard, the ex-garbageman was hoping to get his old job back.

 

Lottery 1

Sharon Tirabassi is back in the working class after winning $10 million.

Noong 2004 naman, nanalo si Sharon Tirabassi ng $10 million sa Ontario Lottery.

She subsequently spent her winnings on a “big house, fancy cars, designer clothes, lavish parties, exotic trips, handouts to family, loans to friends.”

Wala pang 10 taon, bumalik na siya sa pagcocommute sa bus, paghahanap ng trabaho, at pag-uupa ng matutuluyang bahay.

 

Lottery 2

Evelyn Adams gambled it all away in Atlantic City.

Biruin mo nga naman, si Evelyn Adams ay nanalo ng DALAWANG BESES sa lotto — noong 1985 at 1986.

$5.4 million ang lahat ng napanalunan niya — kaso LAHAT ito ay sinugal lang niya sa Atlantic City.

Today, she resides in a trailer park.

 

Lottery 3

Gerald Muswagon ended up feeling sorry for partying.

In 1998, Gerald Muswagon won the $10 million Super 7 jackpot in Canada.

But he blew it all on drinking and partying in only 7 years.

Dahil sa matinding pagsisi, nagawa ni Muswagon na magpakamatay sa garahe ng bahay ng magulang niya noong 2005.

 

News sources: Manila Bulletin and Business Insider

Lessons learned

Anong Smart Money Tips ang matututunan natin from this article?

1. You must learn how to manage money.

 

Winning millions in the lotto can indeed make you rich. Pero hindi sapat na yumaman ka lang. You also have to STAY rich. And you won’t stay rich if you cannot manage your money properly.

Managing money involves:

  • spending money wisely
  • budgeting finances properly
  • planning for the future
  • continuously growing money

That’s what the lottery winners didn’t know! Akala kasi nila, basta’t may ilang milyon ka na, hindi ka na mawawalan ng pera. Hindi ito totoo!

As you can see, the benefits of managing money are two-fold. It helps you:

(1) GET rich; and

(2) STAY rich.

Thus, managing money is a skill that you must learn. Because at the end of the day, it doesn’t matter if you have millions or just a few thousands — if you don’t know how to manage money, then just like the lotto winners above, you’ll lose all of it!

You must learn how to become rich AND stay rich!

 

2. You must learn how to manage yourself.

 

Aside from learning how to manage money, you must also learn how to manage yourself. Because too often, the downfall of those who became rich was also caused by personal issues that were amplified by having lots of money.

With more money comes more problems, they say, and we’ve seen it in the lottery winners above who lost their millions to drugs, gambling, and reckless spending.

Nakita din natin ito kay Mike Tyson, a professional boxer whose net worth once reached $300 million. He squandered all this fortune — spending $2.1 million on cars alone, even buying a tiger, and becoming a drug addict! He has since gone bankrupt, struggling until now to pay his debts with the US Internal Revenue Service.

6b - Mike Tyson tiger

As you can see, money is a powerful tool. Whether it will bring you greater success or huge downfall will depend on how you manage money and how you manage yourself!

So make the right choices. And make sure that you learn how to manage money and yourself!

 

Having learned these Smart Money Tips, what will you first do if you win the lottery? At ano pang tips ang natutunan mo? Share them in the comments section below!

 

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