Practical Lessons for Your Financial Life (Collection)

You Could Gamble It Away

Gambling is a risk you may decide to take. Gambling can be as simple as going outside on an overcast day without an umbrella. When you gamble, either the chances for winning should be very, very high, or the consequences for losing should be very, very low. If you go out without an umbrella on a cloudy day, you might get rained on, but it’s not going to kill you. If you continue driving through an intersection as the light is turning from yellow to red, that could really hurt you—and also someone else. That’s a foolish gamble. So is buying stocks with money that you know you’ll need soon for a set expense such as taxes or a down payment on a home.