Money is a big issue in life and I have seen people throw it all away at a chance at gaining something larger. I understand that in order to make money you have to spend money but I do not understand why people are taking that route. Why don’t they save money in order to have money? I had a big debate with my friend Tan but it was hard to understand his concept. I did not argue with him in order to change his way but the discussion was brought forth so that I can understand him. Needless to say, by the end of the discussion, I still didn’t understand his ways.
In today’s society, it’s all about wants and instant gratification. Everyone wants something and they want to have it now. Not a lot of people are willing to save up for the things they want. I know how it feels when you buy something that you have wanted for a long time. At the same time, buying something on impulse makes you feel good but only for a moment. I have regretted making a few purchases in the past because I found out later on that I did not need it. People would rather spend the money now to satisfy themselves now rather than saving up for tomorrow and waiting for it. It is a hard thing to do and I am not sure why.
A lot of my friends have received their income tax refund this month. With their new wealth, they decided to gamble it in order to make more. I know that tax refunds are free money from the government but at the same time, what most people do not realize is that it is their money that they government is giving back. It is money that the government has been holding on to for a long time and yet no interest is paid on it. If you had to pay tax and you do not pay it all at once, rest assure that they government is going to charge you interest on the money that you owe them.
Anyway, tax refunds are money that you can blow on whatever you want. My friends decided to go to gamble it at the casino. One friend actually won a lot of money. He turned his $60 into $700. Although $700 seems like a lot of money, you might want to take into account the amount that he has lost in the past. That amount is probably close to $700 as well so in reality, he has probably broken even, if he’s lucky.
I am not a big gambler. When we went to the casino that night, I walked in with $5 and I walked out with $5. Even when Jenn and I were in Las Vegas, we gambled away about $20. I am sure there are plenty of better things to do with my money than giving it to the casino. Everyone knows that the house has the upper hand but they still think that there’s a chance that they’ll be lucky enough and win. It’s a small chance but it is a risk that most people are willing to take, especially if they are gambling a small amount. The most that I have lost at a casino was $80 but that was the last time I wagered much. Now when I go, I don’t play anything. I just watch.
Anyway, my friend Tan had a windfall when he purchased a scratch ticket and won a nice sum of money. When it comes to money, his philosophy is to spend it all in order to try to make more. He does not believe in saving and he does not believe in making a small amount of money. If it meant putting away a small amount in order to get more money, he is not willing to do it. He has no problem with buying more scratch tickets in order to hit that jackpot. His reasoning is that, he won the money so whatever he blows it on, does not cost him anything. I understand that it is not his money that he is wasting but rather than spending $200 on scratch tickets, I am sure he could have put it aside to save up for the camera that he wanted.
Every time he buys scratch tickets, he has a sense of hope that it is a winning ticket. What he probably does not realize is that he could be betting on a losing game. Lottery companies do not tell you when someone has hit the jackpot. If they print 5000 tickets and only one of those tickets is a winner, you w ill not know for sure if you still have a chance. Once someone wins the jackpot, the other tickets are still available to be purchased. But if someone has already won the jackpot, every ticket you buy is a losing one.
Tan’s logic when it comes to money is an odd one and one that I cannot understand. I asked him, “If you had the chance to get a higher tax refund would you do it? He said, “Yes!” So I asked, “But if it meant that you have to save a few bucks here and there, would you do it?” He replied, “No.”
Tan is the type of guy that wants instant gratification. He wants something but he does not want to save up for it. He would rather spend the money on the lottery ticket in hopes of winning the money instead of putting the money aside for the item. In his position, since he is getting free money, it would be wiser to save it in case something happens and his free money stops coming in.
I cannot tell people what to do with their money but I can advise them on what to do with it. Gambling is not a bad thing so long as you do it in moderation. Everything is good in moderation. It is when you start to feel a false sense of hope, that is when it gets bad. Lately, my friends have been visiting the casino more often than usual in hopes of beating the house. The moment you step foot into the casino, the odds are already against you. And I have heard, time and time again that once my friends are winning against the house, they do not walk. The thrill of winning big is enough to get people hooked. It is the greed in people that keeps them from walking from the table.