Journal Entry sept 14th.

The article I brought to class related to Lottery ticket winners either turning there lives around or going bankrupt after a while. It talks about how 5 years after winning 150,000 the winners are just as likely to go bankrupt at people whom won less than 10,000. The article talks about how the big jackpot winners money quickly evaporates where as the median jackpot winner ( 70,000) is more likely to clear all debt or be used in other investments. Basically the article talks about how winning a large amount is more likely to pause bankruptcy then to stop it. Also it relates the fact that people who prior to winning the money weren't used to dealing with large sums of money, thus spending it unwisely. To sum it all up hoekstra says,  " People in financial trouble shouldn't expect that winning $100,000 will cause a lasting impact in their finances."