Why Do Lottery Winners Lose it all? - Financial Literacy (Part 1)

Why do lottery winners lose it all? You would think that winning millions of dollars would solve all your problems and you would live happily ever after. But sadly this isn't always the case and many millionaires end up going bankrupt. So why is this? It could be that most of these people weren't rich before they won their millions of dollars because they lacked financial literacy. They didn't understand how money works so they didn't know how to control it, invest it and make their money work for them. In this video, I will talk about one of the most important questions you can ask in life, what is financial literacy? I'll cover the definition of financial literacy, the cons of failing to learn the basics of how money works, and the amazing benefits of becoming financially literate. I also tell you the main topics of personal finance you NEED to know in order to build wealth! f you're wanting to learn about personal finances then why not check out Skillshare? ✅ Get a 14 Day Free Trial Using This Link: https://skillshare.eqcm.net/950challenge If you get some value out of my videos and wish to support me you can buy me a coffee here: https://www.buymeacoffee.com/950Chall... _______________________________________________________________ 💻 Check out the website: https://www.950challenge.com Looking for great personal finance books to increase your financial intelligence? Check out the books below! RECOMMENDED SELF IMPROVEMENT / PERSONAL FINANCE BOOKS: ✅ Rich Dad Poor Dad: https://amzn.to/34BsCZ8 ✅ Think and Grow Rich: https://amzn.to/3e4NkDS ✅ The Compound Effect: https://amzn.to/2HJtfH8 ✅ 6 Months to 6 Figures: https://amzn.to/3mqB03y ✅ 10 Pillars of Wealth: https://amzn.to/3kARDJq ✅ Total Money Makeover: https://amzn.to/35Ec2qF ✅ $100 Startup: https://amzn.to/2JeAqrp ✅ Feel the Fear and do it Anyway: https://amzn.to/2TzjE84 ✅ Awaken the Giant Within: https://amzn.to/3muAJwI ✅ Never Split the Difference: https://amzn.to/3e25Dtb Subscribe to follow along with my 950 Day Challenge! FOLLOW ON SOCIAL: Facebook: www.facebook.com/950challenge Instagram:   / 950challenge   Twitter:   / 950challenge   MY GEAR: ▶ Camera: Sony 6400: https://amzn.to/3kMLF88 ▶ Lav Microphone: Rode Smartlav+ - https://amzn.to/3oA5zWk ▶ Shotgun Microphone: Movo VRX10 - https://amzn.to/2J7KMJr ▶ Lens: Sigma 16MM F1.4 DN DC Art - https://amzn.to/34zBvSX ▶ GoPro Hero 7 Black - https://amzn.to/34wpUUx ▶ (Newest Version) GoPro Hero 9 Black - https://amzn.to/34E3Yal ▶ DJI Osmo Pocket - https://amzn.to/34wSrcI ▶ (Newest Version) DJI Pocket 2 - https://amzn.to/2TtuHj9 ▶ Lighting: Aputure AL-M9 - https://amzn.to/3e4VtrN ▶ Tripod: Manfrotto - https://amzn.to/3jGLJW0 ▶ Tripod 2: Joby Gorillapod 3K kit - https://amzn.to/2JeD6Ft DISCLAIMER: This video and/or description contain affiliate links, which means that if you click on one of the product links and make a purchase, I will receive a small commission. Homeless Man Photo on Thumbnail: Homeless by a Wall by Gary Knight - https://www.flickr.com/photos/garrykn...