Why I’ve Stopped Buying Lotto Tickets (and I started buying Stocks with Robinhood Instead)


Why I’ve Stopped Buying Lotto Tickets (and I started buying Stocks with Robinhood Instead)

Disclaimer #1: I’m not an expert in stocks. I want to grow my money. Insanity is doing the same thing over and over again and expecting different results. I don’t think I’m insane. I’m just changing my approach on money.

Disclaimer #2: Please note there are affiliate links below. If you chose to join the app I mention below using my affiliate link please note you and I will receive a free stock. Might not be much. I’ve already receive a free Groupon stock and Fitbit stock since joining through affiliate links.

My Journey with Lotto

For years, I’ve been chasing that big jackpot. And by years I mean since I was 18. At the time of this post, I’m a 34 year old lady. That’s a lot of years of wasted money. Yes, I’ve won here and there. Like this one time, I won $2,000 on a scratch card. That was so awesome. I had to go to my local lotto office. It felt nice to win. That was about 5 years ago. Le sigh.

Every paycheck, I used to withdraw about $200 to play on lotto scratch cards. I would buy a boat load, scratch them and maybe win $20 on average. That’s a 90% loss. That was my results more often than none. I would lose a lot more than I won.

Last night for example, I wanted to try again. I withdrew $50. I purchased 10 $5 scratch cards. I won $20. I only won on 2 scartch cards, $10 wins on each. Which means I lost $30. I’m done. No more. I work too damn hard for my money to be tossing it like that in seconds.

As of today, I am no longer going to waste my money on the lottery.

I’m going to buy stocks instead. I know. Sounds so scary. And I am so freaking scared. Like trembling.

My Journey with Stocks (so far)

I have no stock experience. None what so ever. Well, do you count a project I did in Senior year of High School Economics class where I “bought” stocks and would watch my gains and loss throughout the year? Does that count? I didn’t think so. So no, I don’t have any stock experience whatsoever.

With some research, I joined a stock trading app called Robinhood.

According to their website, Robinhood is a Commission Free Stock Trading App. You have options in investing in stocks, options, ETFs and cryptos all commision free with a $0 minimum depsoit. Secure platform trusted by millions. Start investing today.

(quote above taken right from the Google search page description)
Robinhood Google Details

I joined Robinhood on May 6, 2019. Sign up was a little much. They ask so many questions. A huge red flag was them asking for my social security number. Eek. I’m so careful about giving out my social. But alas, I took a leap of faith. Huge, scary leap of faith.

My first purchase was 2 shares of Snapchat for $11.66 each. Then my next purchase was 10 shares of Aurora Cannabis for $8.05 each. I was awarded a free Groupon share and a free Fitbit share. In total, I’ve spent $103.82 in stocks. I plan to spend $50 – $100 in stocks a paycheck (every 2 weeks).

The stock market fluctuates so much. One day I’ll be in the green (positive return in investments), the next hour I’ll be in the red (negative return in investments).

As of right now, at the time of this posting, I’m in the red. I’m at a loss.

However, not all my investments are at a loss. You can Groupon and ACB are at a gain. However, I have Fitbit and Snap at a loss.

The stock market is a gamble. As is the lotto.

When I play the lotto, I lose my money. The stock market I feel I have a better chance to make money buying, selling, trading, it’s a game and I kinda love it.

I’ve never traded as in sold any stocks so I’m unclear how that process works. I’m just in the game of wanting to watch my money grow.

If you’re interested in learning more visit Robinhood.com (using my affiliate link which gives you and myself a free stock of their choosing) for more information.

As I write this, I want you all to know, I was not paid by Robinhood or anyone to write this post. This is not a sponsored post. Yes, I have affiliate links in this article. I want to share my Robinhood journy. I am a real girl, who wants to invest my money more wisely. I don’t endorse them. I’m trying it just like everyone else. Please invest responsibly, like I am. Also, I am not bashing the lottery. I love the lottery. I also love the thrill of playing. My luck with scartch cards haven’t been in my favor lately. So I’m switching it up.

Maybe I’ll make this a series? Not sure yet. Let me know in the comments this is the kind of stuff you’re interested in reading? Do you care how it’s going for me using Robinhood?

Like and share, if you are so inclined.

Mel

7 thoughts on “Why I’ve Stopped Buying Lotto Tickets (and I started buying Stocks with Robinhood Instead)”

  1. It’s a long game investing in stocks. The ride can be nauseating but overall, I think you’ve chosen a wiser path than lotto tickets. All the best with your plan.

    Reply

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