Managing your money
Getting your cash flow under control is critical to successfully stopping gambling. For example, make sure you have limited access to cash so the temptation to gamble your savings is reduced. Find out how you can use money management to help you quit or cut down on gambling.
Sometimes it can be 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 it is very rare that it would make your situation better – find out more about the odds of gambling.
The sooner you start taking steps to manage your cash, the sooner the financial costs of problem gambling will decrease.
A great way to start is setting a budget - this can give you a clear view of your finances and the proportion of income going towards gambling. Find out about setting a budget.
If you want to cut down or stop gambling it is helpful to protect your assets.
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.
If you focus on paying off your debts, the debt will get smaller and money will have value, as each week passes.
In order to keep their money safe many find it helpful to seek support from someone they trust. For example, holding on to credit cards and helping them to stick to their budgets.
Support is also available for those who are helping you - they may also be struggling with the impacts of your gambling. Our services are open to anyone affected by gambling and you can encourage them to chat to one of our counsellors, or they could join our family and friends forum.
For help with managing your finances or learning how to budget:
- Find out more about making a budget
- Find out how to protect assets against excessive spending.