Regaining Control

Money Management

Do you forget about gambling when you don't have any money? Find out how you can use money management to help you quit or cut down on gambling.

Most people find that if they have cash in their pocket they are more likely to gamble. Many people who successfully stop gambling find that getting their cash flow under control is critical. 

Sometimes it is difficult to face the financial reality caused by excessive gambling.

Some gamblers chase their losses in the hope they will win and be able to pay their debts. However, this generally makes matters worse and only adds to debt. The more people gamble to try and win back losses, the more debt they accumulate.

The sooner you start taking steps to manage your cash, the sooner the financial costs of problem gambling will decrease.

There are simple steps you can take to help get your finances back on track.

  • Making a budget can give you a clear view of your finances and the proportion of your income going towards gambling.
  • If you want to cut down or stop gambling it is helpful to protect your assets from the danger of spending more than you can afford if you do gamble.

The bottom line is that repayment of debt is part of the recovery process from problem gambling. The best way to repay debt is to work out a manageable amount to pay off each week or month. As each day passes, the debt will get smaller and you will be learning better money management skills.

Next steps

For help with managing your finances or learning how to budget: