Budgeting starts from personal budget then gambling budget.

[qwertyup23]

I absolutely disagree with this.

If you are able to have savings after all living necessities, you can be using not more than 1% of your income on gambling. No need to think about the budgeting like it is something special.

I think the reason on why personal budgeting is important focuses more on allocating a specific portion of your income primarily for gambling.

Without any kind of budgeting, you run the risk of overspending and overconfidence- thinking that you can afford to spend more in the process. On the other hand, if you designate a specific portion of your income to gambling, once exhausted, you are somehow compelled to stop at that point.

Regardless, however, everything revolves around proper discipline and decision-making especially when you are at the point of losing continuously. Even if you have all the money in the world; or if you have allocated a portion in gambling, without any discipline then everything would be immaterial and futile.

[TheUltraElite]

I still think a gambler who is going to start budgeting for personal and gambling spendings is going to get tired of it soon enough. They will start it for some days and then stop with saying that its not working.

While budgeting is a good thing for anyone, for gambler its like tying your own wrist while trying to use it. If they can do it though, then I think they will stop gambling soon.

[Fivestar4everMVP]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

Well, my take on this is that you may be right, but I don't think there people out there in their right senses who will be spending money on things they do not want or need, and please understand that needs and wants are two different things, what you want may not actually be what you need, and sometimes, what you need at a particular time may likely not be what you want.
So in every spending, we are spending on either of this two and as such, I will say that the person is still spending on him or herself which is the primary reason why hustle hard to make money anyway.

Gambling falls under personal want and if a person doesn't want to gamble, thats his of her decision and that should be respected, in as much as there is the possibility of winning from gambling, there is also the possibility of losing money as well and the chances of losing money is even higher than the chances of winning, so I honestly value the money I spend on myself much more than that I spend on gambling.

[tread93]

I absolutely disagree with this.

If you are able to have savings after all living necessities, you can be using not more than 1% of your income on gambling. No need to think about the budgeting like it is something special.

I spend more on things that add up to me than things that do not add up.

Id have to agree with that statement for sure. Like id rather buy more shitcoin over gambling any day. Now buying shitcoins is a gamble in and of itself so maybe its just a less shittier form of gambling? Loll.  Having a whole budget for gambling though is serious. I hope your returns have bode you well OP

That's the point. Some people have a habit to include gambling in their daily life. While there are others who will prefer to put it in something they see valuable but still worthless in the end. I myself is guilty of spending cosmetics in video games. It's a waste of money for some but the excitement I get is comparable to the other things that I do.

As long as it doesn't concern our financials and doesn't interfere with our life then we should let those people do what they want with their money.

Yes there are many things that people spend money on that would be synonymous with the phrase "Money flushed down the toilet" but at the end of the day there is nothing you or I could say to stop people from buying those things. They have to stop by themselves. I personally believe people in those circumstances need a come to Jesus moment for lack of a better phrase where a drastic change is necessary for their livelihood, pressure helps people, hard times help people. When they hit rock bottom I hope they can have learned their lessons and bounce back

[danadc]

Without any kind of budgeting, you run the risk of overspending and overconfidence- thinking that you can afford to spend more in the process. On the other hand, if you designate a specific portion of your income to gambling, once exhausted, you are somehow compelled to stop at that point.

As a player I don't budget anything to gamble in a casino, sometimes I just have something set aside to have fun and I put it in the casino to see if I'm lucky, but it's not a lot of money, it would hurt me a lot if the money I have to go out and have fun only went to a casino, there are many types of fun, the casino is not the only one, but as we are people who like adrenaline, we should allocate a minimum, so as not to lose the habit, allocating little money is a good option for the casino.

[mirakal]

Without any kind of budgeting, you run the risk of overspending and overconfidence- thinking that you can afford to spend more in the process. On the other hand, if you designate a specific portion of your income to gambling, once exhausted, you are somehow compelled to stop at that point.

As a player I don't budget anything to gamble in a casino, sometimes I just have something set aside to have fun and I put it in the casino to see if I'm lucky, but it's not a lot of money, it would hurt me a lot if the money I have to go out and have fun only went to a casino, there are many types of fun, the casino is not the only one, but as we are people who like adrenaline, we should allocate a minimum, so as not to lose the habit, allocating little money is a good option for the casino.

It is always a part of our expenses. Allocating a small amount could help to ease our addiction and habit, but this also matters in how serious we are in following this. Because many gamblers put their gambling budget at the lowest, but guess what? They bypass it and spend more. That is why gambling habits should not be taken lightly but rather seriously. So I say that it was not the budget that mattered the most but also how we control ourselves. This saves us a lot financially and mentally.

[TravelMug]

Without any kind of budgeting, you run the risk of overspending and overconfidence- thinking that you can afford to spend more in the process. On the other hand, if you designate a specific portion of your income to gambling, once exhausted, you are somehow compelled to stop at that point.

As a player I don't budget anything to gamble in a casino, sometimes I just have something set aside to have fun and I put it in the casino to see if I'm lucky, but it's not a lot of money, it would hurt me a lot if the money I have to go out and have fun only went to a casino, there are many types of fun, the casino is not the only one, but as we are people who like adrenaline, we should allocate a minimum, so as not to lose the habit, allocating little money is a good option for the casino.

It is always a part of our expenses. Allocating a small amount could help to ease our addiction and habit, but this also matters in how serious we are in following this. Because many gamblers put their gambling budget at the lowest, but guess what? They bypass it and spend more. That is why gambling habits should not be taken lightly but rather seriously. So I say that it was not the budget that mattered the most but also how we control ourselves. This saves us a lot financially and mentally.

Funny but it's true, we put everything and write it out, but when the money comes, most of the time it's hard to follow that budget as gambling became our priority (sad to say). That's why when I got my salary, I might have to withdraw it or just put it in my wife's account so that I can't touch it right away.

And then we sit down and try to budget everything. Because if it is just me, then I might have gambled it already with all the online games still proliferating in our country. Everything is accessible, so I try my best not to fall for it and priorities things. And if there are still money left, then maybe I can enjoy playing it.

[_act_]

Funny but it's true, we put everything and write it out, but when the money comes, most of the time it's hard to follow that budget as gambling became our priority (sad to say). That's why when I got my salary, I might have to withdraw it or just put it in my wife's account so that I can't touch it right away.

I will prefer to just learn how to manage my money than to trust anyone with it. I am not saying I can not trust my wife but she does not know how much I am earning weekly. So I can not put the money in her account but we are different though. It is not hard for me to put like 1 over 2% of my weekly income on gambling and I make sure I do not use the rest to gamble.

[nullama]

I absolutely disagree with this.

If you are able to have savings after all living necessities, you can be using not more than 1% of your income on gambling. No need to think about the budgeting like it is something special.

I spend more on things that add up to me than things that do not add up.

I think at the end of the day gambling can be considered entertainment for some people.

And if you end up budgeting for it, and enjoy it, then I don't really see a problem.

Of course, if it is a massive amount, then it would be better off being invested in something, but life is short and you also need to have some fun...

Some people enjoy the act of gambling, so they can do it in moderation, kinda like social alcohol consumption... As long as there's no massive financial holes, then it should be alright and a budget helps to keep it like that.

[traderethereum]

Without any kind of budgeting, you run the risk of overspending and overconfidence- thinking that you can afford to spend more in the process. On the other hand, if you designate a specific portion of your income to gambling, once exhausted, you are somehow compelled to stop at that point.

As a player I don't budget anything to gamble in a casino, sometimes I just have something set aside to have fun and I put it in the casino to see if I'm lucky, but it's not a lot of money, it would hurt me a lot if the money I have to go out and have fun only went to a casino, there are many types of fun, the casino is not the only one, but as we are people who like adrenaline, we should allocate a minimum, so as not to lose the habit, allocating little money is a good option for the casino.

You can do that but you need to be careful to control yourself. There is a moment when you lose money in gambling and want to deposit more. But that will not happens if your control is strong and you avoid it by leaving the casino. The will to deposit more after losses will be there so we must have awareness of that and not follow our minds to deposit again.

It is enough for us to playing gambling with those funds so we must stop gambling no matter if the temptation is getting bigger. We should preventing ourselves from depositing more money because that can gives us more risks of losing money.

[mak013]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

Budgeting is very useful thing for everything. I like to work with numbers, so i can say how much money i spent and on what purposes it was spent for every day. I don`t try myself to save money, i can make silly purchases, but i see that i always have some money to next salary and i have an opportunity to buy something useful and to invest.
Gambling  budget is the same. If you getting profit, you can increase bet size, controlling budget, or make some stop if something goes wrong. If you`re playing for fun - you can plan how much money you can spend per day/per month.
I saved money for few months for my bankroll - it was so, because i wanted to be able to make big enough bets and don`t worry that i have money only for 2-3 bets. It is just an example how personal budgeting was used for gambling.

[swogerino]

I still think a gambler who is going to start budgeting for personal and gambling spendings is going to get tired of it soon enough. They will start it for some days and then stop with saying that its not working.

While budgeting is a good thing for anyone, for gambler its like tying your own wrist while trying to use it. If they can do it though, then I think they will stop gambling soon.

I agree strongly with this that most gamblers will quit after a few days or max a few weeks. In a contrary occasion to this I will present myself that since I started budgeting and not spending more than 20-30 dollars for a week in the best of cases I have been able to gamble very little compared to when I used to just deposit the max amount at my disposal. In fact I am able to completely quit and completely restart every time I want to gamble again, budgeting when done right can help people but only those people who are really decisive in wanting to achieve something from this budgeting that they are doing otherwise it won't work at all like you say.

[summonerrk]

Being a person who doesn't joke with budgeting in real life doesn't mean this kind of lifestyle will affect one’s gambling habits. If you don't have an understanding of gambling, you can find yourself gambling excessively, especially when you think it can generate a good amount of money for you. Having a budget in gambling is about understanding; it's not just because you already have a budgeting lifestyle that helps you manage your money.

Exactly, that's what I read about those people who were very strict about budgets in real life. They were even leading accountants in the best business companies, but because of their addiction they later broke into the company's safe and stole about 50,000 dollars in order to go to the casino and gamble everything away.
And this perfectly confirms the theory that with a very severe addiction to gambling, a person seems to split into two persons, one of which is a decent and calm person, and the other is a crazy gambler who only wants to play and bring money into the casino.

[bubilas]

Being a person who doesn't joke with budgeting in real life doesn't mean this kind of lifestyle will affect one’s gambling habits. If you don't have an understanding of gambling, you can find yourself gambling excessively, especially when you think it can generate a good amount of money for you. Having a budget in gambling is about understanding; it's not just because you already have a budgeting lifestyle that helps you manage your money.

Exactly, that's what I read about those people who were very strict about budgets in real life. They were even leading accountants in the best business companies, but because of their addiction they later broke into the company's safe and stole about 50,000 dollars in order to go to the casino and gamble everything away.
And this perfectly confirms the theory that with a very severe addiction to gambling, a person seems to split into two persons, one of which is a decent and calm person, and the other is a crazy gambler who only wants to play and bring money into the casino.

And I saw an interview with a guy who became an excellent banker and opened his own company, lending money to those who turn to him. After which he became interested in sports betting, because a friend said that he won a lot of money there. Because of this, he got carried away and gambled away all his savings, then his car, and eventually had to break up with his wife. But ultimately, after 3 years, he came to the studio and gave an interview where he confessed that he could not live like this anymore. And that now he is trying to start a business again and his dream is to return to his family in order to again lead a normal life, not dependent on gambling.

[Strongkored]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

I agree with this, by recording our expenses we will know which ones are draining our money too much so we can start to manage our expenses better.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

This is the strangest thought I have ever read. I mean, budgeting is about managing your finances well, not about having more money to gamble. While you have a chance of winning in gambling, losing seems more certain, especially if you're playing games based on luck. It's better to invest or use more of your money for other useful things, rather than adding it to gambling.

[₿itcoin]

Mate, you can begin by tracking every small expenditure because habitual expense-tracking does indeed reduce the discretionary leakages and gives you that dose of reality. Then make gambling a form of leisure activity, set aside a dedicated betting budget, bet in fixed amounts, if you ask me i dont go over 1-3% per bet, monitor ROI, & set deposit/time restrictions or self exclude in situations where things get out of control. Gambling is not an investment, you should not test strategies when your budget is not stable. First allot your budget, then bet, that is all.

[summonerrk]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

Therefore, it is very important to first of all understand perfectly what salary you have at your disposal or what sources of income you have at your disposal: income from renting out an apartment, passive income, help from relatives, etc.
After that, it would be very important to understand what expenses you have per month. There are a lot of them and you need to break them down into groups to understand exactly: what you can save on in the future and what you can’t refuse.