How much are New Jerseyans paying for lottery tickets?

How much are New Jerseyans paying for lottery tickets? For me, it's zero dollars so far. Just can't seem to find the time to stop and honestly, as I've said in the past, not sure I'd want to win.

The jackpot for Wednesday's drawing for the Powerball is $1.2 BILLION. The cash option is estimated to be about $600 million.

As I have said in the past, winning that kind of money overnight, more money than most could spend, is life-changing.

Winning a million dollars would be completely different. Pay off the mortgage, and the cars, and enjoy a vacation or two. But $600 million in the bank Friday morning? That's a lot to take in and if you had trouble managing the money with an average income, you're gonna need a team with that windfall.

It's clear that money does not buy happiness. Some of the happiest people in the world have just enough and not more than they need. That said, nobody told New Jerseyans.

At this point, it's reported that NJ residents spend more than THREE BILLION dollars on lottery tickets annually. The average person is spending more than $400 and the average win is just shy of $300. Hmm, not exactly an investment that your financial guy would recommend.

So the question is, are you spending your paycheck in the hope that you will be the one who wins more money than most couldn't spend in a few lifetimes?

What would you do with the money if you won? What relationships would you keep? Do you quit your job on Day 1? Share with family and friends? How about co-workers?

You would definitely be able to afford to stay living in New Jersey.

The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Bill Spadea. Any opinions expressed are Bill's own. Bill Spadea is on the air weekdays from 6 to 10 a.m., talkin’ Jersey, taking your calls at 1-800-283-1015.

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