I watched deal or no deal last night on CNBC, and there is someone on the show that pretty much has a 20% chance of winning 1 million dollars, but is risking $148,000 dollars for it.? We always wonder why people would risk so much money for the chance of 1 million dollars in this game show, but then it often happens.
Most of us will never know why people won?? say ??EAL??and take the safe money, but I guess most of us never understand the people that spend all their money and not save any either.? For those that do not save, they are just asking for trouble down the road.
Let me tell you that I?? very stressed out in my life right now because I?? trying to buy a house and also get married.? Let me tell you that the foreseeable expense list is very long.? In fact, I feel upset that I?? not able to spend much of what I earn in an effort to be better off in the future.? However, I will still try to save as much money as I can because I believe.? I believe that I will be able to achieve financial freedom.? I believe that I will be better down the road.? I believe that by saving, I can provide my family a better future.? I believe.
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{ 2 comments… read them below or add one }
I suspect it’s probably because they came there with nothing (prize wise), so if they risk it all and lose, they’re not really out anything except for time (which they most assuredly enjoyed themselves anyway).
Basically, it’s accepting that you’ll probably lose anyway. There are 3 possible outcomes in this particular setup:
1) Win nothing (which is technically not possible on DoND, as the least you can leave with is $0.01, which may as well be nothing, relatively)
2) Win the $148,000 by taking the Deal. This has the possible stigma of “what if” thinking. i.e., “what if I had passed up the deal for the $148,000? Could I have won the $1Million???
3) Say “No Deal”, and perhaps win the $1Million. This is the option chosen by many, because of the possibilities of what the $1Million would MEAN. It would mean that they beat the system (the Banker). The upside to this is that there is less of a “what if”. i.e., they’re not as likely to say “what if I had taken the deal, how much money would I get?” They already KNOW the answer to that.
Just my $0.02 prize…er thought.
I don’t know if I can ever think of the fact that I came with nothing when I’m trying to risk $148,000 for 1 million. I can understand trying to go for it if I have to open 1 case with 2 big amounts left. However, I just can’t see risking that much money for more.
I guess it’s easy for me to say since I am not on national TV trying to make such a big decision though!