How much of my salary should I use to gamble

[retreat]

Many people suggest using 5-10 percent of his monthly salary for gambling and many people increase this percentage and keep it between 10-30 but I think it is important to observe whether our family is going through any shortage or not because family needs get the first priority. I don't think it would be appropriate to have a gambling budget there. Gambling can only be budgeted for when the family is able to fully meet their basic needs. A financially sound gambler may try to spend anywhere from 10 to 20 percent of his income which will not hinder the gambler's gambling. The main reason for making budget is to gambling so that he can lose his money without any obstacles. But there are some gamblers who do not pay the family expenses but use the money from it for gambling. Which later brought both his gambling life and his family a major disaster.

Budgeting needs to be done by gamblers, especially those who already have a family, because by doing budgeting it will make it easier for gamblers to manage their finances in 1 month for their gambling activities and for their family. If a gambler doesn't budget and only plays according to their wishes, then what will happen is that their finances will fall apart and they will use money that they shouldn't use for gambling. And budgeting will help a lot a gambler to see whether they can use their money for gambling or not.

[Jody.Drummer]

Many people suggest using 5-10 percent of his monthly salary for gambling and many people increase this percentage and keep it between 10-30 but I think it is important to observe whether our family is going through any shortage or not because family needs get the first priority. I don't think it would be appropriate to have a gambling budget there. Gambling can only be budgeted for when the family is able to fully meet their basic needs. A financially sound gambler may try to spend anywhere from 10 to 20 percent of his income which will not hinder the gambler's gambling. The main reason for making budget is to gambling so that he can lose his money without any obstacles. But there are some gamblers who do not pay the family expenses but use the money from it for gambling. Which later brought both his gambling life and his family a major disaster.

Budgeting needs to be done by gamblers, especially those who already have a family, because by doing budgeting it will make it easier for gamblers to manage their finances in 1 month for their gambling activities and for their family. If a gambler doesn't budget and only plays according to their wishes, then what will happen is that their finances will fall apart and they will use money that they shouldn't use for gambling. And budgeting will help a lot a gambler to see whether they can use their money for gambling or not.

True I agree with this, however and in any case management must be done especially when it comes to finances, and when you have a habit that requires you to spend a certain amount of money to be able to do so then obviously budgeting must be done, regardless of the amount but it must be in tends to be a small amount which is essentially the amount you can afford to lose. In addition, this is gambling, which is always a risk, which can be higher if you treat it in the wrong way.

As you said, having such money management in place makes it less likely for them to experience the problem of losing balance in terms of family finances. Another thing however is that limits should always be applied in any case especially when it comes to finances, and having a tendency to overdo it when it comes to gambling can never be right, it is a bad idea that will eventually lead them to significant financial problems that can most likely make it difficult for you to make ends meet, so the point is that management, budgeting and limits are very important things that all gamblers must apply to their gambling activities if you want to survive in the long run.

[Lidger]

Many people suggest using 5-10 percent of his monthly salary for gambling and many people increase this percentage and keep it between 10-30 but I think it is important to observe whether our family is going through any shortage or not because family needs get the first priority. I don't think it would be appropriate to have a gambling budget there. Gambling can only be budgeted for when the family is able to fully meet their basic needs. A financially sound gambler may try to spend anywhere from 10 to 20 percent of his income which will not hinder the gambler's gambling. The main reason for making budget is to gambling so that he can lose his money without any obstacles. But there are some gamblers who do not pay the family expenses but use the money from it for gambling. Which later brought both his gambling life and his family a major disaster.

Everyone's income level is different, and budget planning is very different. There are those who manage money wisely, and there are those who live from paycheck to paycheck, spending everything they earn. I think that you need to spend not 5-10% of your salary, but first distribute the money for all necessary needs and see how much you can save from your salary, and only from the money that you save, take 5-10% for gambling, then this will be imperceptible in case of loss.

I would say it will be more wise to plan those 5-10% from salary not only on gambling, but on entertainment in general. And a person can balance between how he is allowed to bet, taking into consideration that he wants to go to cinema this month or planned other activity. If gambling will be in a category of entertainment, it will help to resist from being greedy and want to try to win more or chase losses.

Gambling should be done in such a way that you have a plan where you gamble with a certain amount of money each day and you take one gamble each day. If gambling can be done with this plan then I think gambling will not lose much money. Basically a gambler loses money by gambling when he becomes addicted to gambling and only continues to gamble after he loses several times. We can never be addicted, what you said that if gambling can be played for enjoyment then fine I say gambling should be taken seriously not as fun because here we have money involved.

[STT]

Ideally pay all bills first and the amount left over is whats considered.  Never consider to spend money that is already allocated to bills, you cannot spend what you dont have.   Most places have taxes and rent and utility bills none of which is optional, so saying 5% of money which has to pay those bills would appear too much.

If a person already paid every bill and the food and anything else you require to live, this is when we can talk about what percent but I would not take cash directly from earnings as if it were free and clear.

[Blitzboy]

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True I agree with this, however and in any case management must be done especially when it comes to finances, and when you have a habit that requires you to spend a certain amount of money to be able to do so then obviously budgeting must be done, regardless of the amount but it must be in tends to be a small amount which is essentially the amount you can afford to lose. In addition, this is gambling, which is always a risk, which can be higher if you treat it in the wrong way.

As you said, having such money management in place makes it less likely for them to experience the problem of losing balance in terms of family finances. Another thing however is that limits should always be applied in any case especially when it comes to finances, and having a tendency to overdo it when it comes to gambling can never be right, it is a bad idea that will eventually lead them to significant financial problems that can most likely make it difficult for you to make ends meet, so the point is that management, budgeting and limits are very important things that all gamblers must apply to their gambling activities if you want to survive in the long run.

Completely understand financial management. Especially when gambling, its crucial to spend carefully. Consider risk and reward, not just numbers. Budgeting and restrictions are crucial. Know how much you can lose without hurting family or money. Money management, in addition to gambling.

Gambling may be exciting if done properly. Great self-control and odds knowledge are needed. Real strategy is needed. Clear spending limits prevent overspending and make it fun. Budgeting, financial management, and discipline matter. If gambling is enjoyable without compromising finances or life, then they are required. Win only then.

[danherbias07]

Ideally pay all bills first and the amount left over is whats considered.  Never consider to spend money that is already allocated to bills, you cannot spend what you dont have.   Most places have taxes and rent and utility bills none of which is optional, so saying 5% of money which has to pay those bills would appear too much.

If a person already paid every bill and the food and anything else you require to live, this is when we can talk about what percent but I would not take cash directly from earnings as if it were free and clear.

I agree, this is where gamblers get it wrong. They use their money that is meant for something else to gamble and think they can double it so that they can have a better month. Pay the bills and more so they can provide for their other unnecessary things. Pay everything first, calculate the budget for the month, and then what is left is the only amount you can gamble.
I don't think they are forgetting it, they are just greedy to think that they might win the game and have a convenient life. Gambling is not the answer to that.
This is why I don't get heated with my wife because I pay my responsibilities first so that we won't argue about money and that's when I can enjoy my gambling habits after everything is paid and monthly necessities are all set.

[Bravut]

Ideally pay all bills first and the amount left over is whats considered.  Never consider to spend money that is already allocated to bills, you cannot spend what you dont have.   Most places have taxes and rent and utility bills none of which is optional, so saying 5% of money which has to pay those bills would appear too much.

If a person already paid every bill and the food and anything else you require to live, this is when we can talk about what percent but I would not take cash directly from earnings as if it were free and clear.

I agree, this is where gamblers get it wrong. They use their money that is meant for something else to gamble and think they can double it so that they can have a better month. Pay the bills and more so they can provide for their other unnecessary things. Pay everything first, calculate the budget for the month, and then what is left is the only amount you can gamble.
I don't think they are forgetting it, they are just greedy to think that they might win the game and have a convenient life. Gambling is not the answer to that.
This is why I don't get heated with my wife because I pay my responsibilities first so that we won't argue about money and that's when I can enjoy my gambling habits after everything is paid and monthly necessities are all set.

Well said Mate.
Earlier I said, firstly, gambling from our salary is unwise and a bad financial habit. Before we thinking of allocating any amount at all, the needs and wants of the family should be meet with a surplus in case of any other emergency that can tally till you get paid again.
If not the left over, or discretionary funds that are meant for your beer or outing then you can use to gamble risking responsibly. The percentage to be used depends on our salary amount, someone 5% can be some else 1% in a nutshell there is a variation so it depends on your salary.

But in anyway, it shouldn't be more than 1%.

[Lanatsa]

Many people suggest using 5-10 percent of his monthly salary for gambling and many people increase this percentage and keep it between 10-30 but I think it is important to observe whether our family is going through any shortage or not because family needs get the first priority. I don't think it would be appropriate to have a gambling budget there. Gambling can only be budgeted for when the family is able to fully meet their basic needs. A financially sound gambler may try to spend anywhere from 10 to 20 percent of his income which will not hinder the gambler's gambling. The main reason for making budget is to gambling so that he can lose his money without any obstacles. But there are some gamblers who do not pay the family expenses but use the money from it for gambling. Which later brought both his gambling life and his family a major disaster.

Everyone's income level is different, and budget planning is very different. There are those who manage money wisely, and there are those who live from paycheck to paycheck, spending everything they earn. I think that you need to spend not 5-10% of your salary, but first distribute the money for all necessary needs and see how much you can save from your salary, and only from the money that you save, take 5-10% for gambling, then this will be imperceptible in case of loss.

I would say it will be more wise to plan those 5-10% from salary not only on gambling, but on entertainment in general. And a person can balance between how he is allowed to bet, taking into consideration that he wants to go to cinema this month or planned other activity. If gambling will be in a category of entertainment, it will help to resist from being greedy and want to try to win more or chase losses.

5-10% spending on your salary is already that too much on which i would say that it would be better that you would be lessening it out and spending into something more worth but well each one of us would really be having their own risks management on which there are even people who do spend as much of 50% of their salary on which its already absurd and do really needs up with that kind of moderation or control.

The important thing on here is that you are wary on the decisions that you are making and not really that doing something which could be putting you in harm. This is why it would really be better that you should really know on what you are dealing with. Spending up money on which it isnt supposed to be spend on that way then it will really be creating some future problems on which you might be ending up on regretting.
This is why speaking about percentage of spending of funds in gambling then this is something that you should really be looking into. You should not make yourself that being
getting dragged with emotions if you dont like to mess up.

[klidex]

I would say it will be more wise to plan those 5-10% from salary not only on gambling, but on entertainment in general. And a person can balance between how he is allowed to bet, taking into consideration that he wants to go to cinema this month or planned other activity. If gambling will be in a category of entertainment, it will help to resist from being greedy and want to try to win more or chase losses.

In my opinion, that's a different budget, even though they all include entertainment, but the goal of people who gamble is to be able to get more money than the money they have set aside for gambling, even though winning is not guaranteed, at least that is someone's goal for gambling, someone prepares a budget of 5- 10% for gambling and hope to get 20-50% However, if the money is used for other entertainment, we will not get the benefit of the money just to have fun for a while. Meanwhile, when gambling, we don't know what will happen when we gamble, whether we win or lose, even though the concept is the same, we use it to have fun, but if it is for other entertainment, we will lose money without making anything.

The most important thing is that we have prepared special money for gambling and do not exceed the limit of that special money. We are very lucky if the money we have prepared for gambling can turn over and produce more money than the initial capital. But if it doesn't produce anything, we don't need to regret it because we have prepared that money to be ready to lose and just think of it as if you were on holiday and losing your money because to meet your needs, we consider everything the same as entertainment depending on the person who enjoys it.

[Nrcewker]

This is an interesting question related to gambling I see. Definitely many people will have doubt on this. This can be solved very easily. Pay your daily and monthly bills, invest some amount of the salary, and save a little portion of the salary. Now what amount you left, you can try your luck with that. Now I have seen many people going above this limit while gambling. They gamble with the money that is necessary for other work. Hence, when they by mistake lose it, then get into depression.

[zuzie]

The most important thing is that we have prepared special money for gambling and do not exceed the limit of that special money. We are very lucky if the money we have prepared for gambling can turn over and produce more money than the initial capital. But if it doesn't produce anything, we don't need to regret it because we have prepared that money to be ready to lose and just think of it as if you were on holiday and losing your money because to meet your needs, we consider everything the same as entertainment depending on the person who enjoys it.

Very good advice, by having a special reserve of money for gambling we also prevent money from swelling when we lose when gambling. Yes, with this special reserve of money we have taken action to limit bets and when to stop.
And when we often lose, we are not too burdened because it is already a risk and we are definitely ready if the reserve money is lost. On the other hand, we do not interfere with matters in our lives, meaning that our daily needs are already there and we have specially prepared them. .

[junder]

I agree, this is where gamblers get it wrong. They use their money that is meant for something else to gamble and think they can double it so that they can have a better month. Pay the bills and more so they can provide for their other unnecessary things. Pay everything first, calculate the budget for the month, and then what is left is the only amount you can gamble.
I don't think they are forgetting it, they are just greedy to think that they might win the game and have a convenient life. Gambling is not the answer to that.
This is why I don't get heated with my wife because I pay my responsibilities first so that we won't argue about money and that's when I can enjoy my gambling habits after everything is paid and monthly necessities are all set.

especially when they experience financial problems, for example with their salary not being enough because there may be many deductions so they only receive a small salary which may not be enough to divide into many things such as meeting their needs or paying this or that bill and so on, because they are already familiar with gambling too Because they only have a small amount of money, the mistake is that they think they can use it on gambling. hoping that the money they bet can result in a win that they can get and help their finances, it's fine if they are lucky and can control themselves, but instead of wanting to improve their finances, the situation only makes things worse. Obviously this is the fault of each individual.

I agree with what you said, if we have received money or salary from our work, then pay all the bills first such as electricity, water, or even wifi. After all that has been fulfilled, including basic kitchen needs, if there is still anything left, then bet on gambling, but that doesn't mean you have to. It is also not recommended to gamble. Moreover, we must be able to control ourselves as best as possible. Apart from that, this is where money management is important. Don't let us only prioritize what we want while other things that are clearly important are neglected.

[bakasabo]

Everyone's income level is different, and budget planning is very different. There are those who manage money wisely, and there are those who live from paycheck to paycheck, spending everything they earn. I think that you need to spend not 5-10% of your salary, but first distribute the money for all necessary needs and see how much you can save from your salary, and only from the money that you save, take 5-10% for gambling, then this will be imperceptible in case of loss.

I would say it will be more wise to plan those 5-10% from salary not only on gambling, but on entertainment in general. And a person can balance between how he is allowed to bet, taking into consideration that he wants to go to cinema this month or planned other activity. If gambling will be in a category of entertainment, it will help to resist from being greedy and want to try to win more or chase losses.

5-10% spending on your salary is already that too much on which i would say that it would be better that you would be lessening it out and spending into something more worth but well each one of us would really be having their own risks management on which there are even people who do spend as much of 50% of their salary on which its already absurd and do really needs up with that kind of moderation or control.

The important thing on here is that you are wary on the decisions that you are making and not really that doing something which could be putting you in harm. This is why it would really be better that you should really know on what you are dealing with. Spending up money on which it isnt supposed to be spend on that way then it will really be creating some future problems on which you might be ending up on regretting.
This is why speaking about percentage of spending of funds in gambling then this is something that you should really be looking into. You should not make yourself that being
getting dragged with emotions if you dont like to mess up.

Read my post once again. I did not suggest to spend 5-10% of salary only on gambling. That is the amount a person should spend on entertainment. That can be anything that can bring fun. Video games, books, outdoor activities, cinemas, shows, clubs and gambling. For me this looks like a reasonable amount to spend. Roughly we spend half of salary on food and bills. Then there are some obligatory expenses (this is individual, but lets say I spend 10-15% of my salary on such a category as kids). In addition I believe that a person must save something each month. So in the end I get an amount I can spend whatever I want.

[Litzki1990]

From the amount of money you get every month from your salary, you have to finish the necessary tasks first. You can create a monthly chart detailing your expenses. For example, how much money is being spent on your family every month, how much money is being spent on your child's education every month, how much money is being spent on buying medicines and other accessories. Apart from these, you can decide on gambling by making a chart of how much money you have left each month, excluding your travel expenses, dining out with friends or other expenses. If after excluding these expenses you have some money left at the end of every month then I would tell you to save your remaining money. But if you have enough money left at the end of the month then you can spend a part of that money on gambling and keep the rest for your needs.

[Betwrong]

Gambling is becoming a popular thing in my locality almost everyone gamble and even colleagues gamble and engage in gambling related discussions at work,  so gambling is legal and very popular so there is no Shame in using part of a salary to gamble with that is why I am asking the question of what the right percentage from my salary that I should use to gamble?

My answer is 5%. This is a right amount if you want to really feel what gambling is. If you will start gambling you'll notice that it's impossible to stick to this restriction all the time, sometimes you'll break it, but don't go off the rails too much. The max you can spend on your gambling, if you are a sane person, is 10% of your monthly salary. It will be painful and you will feel it, and you will be swearing to never repeat that again, and maybe you'll bang your head against the wall a couple of times, but you will not die from it, and you will be able to say ten years later "I've been enjoying gambling for 10 years and I'm alive!"

[Pierre 2]

Answer is in my opinion, consider your country's inflation. If inflation is high enough your money is worthless anyways so you are more safe to gamble it without any issues.

[nullama]

Answer is in my opinion, consider your country's inflation. If inflation is high enough your money is worthless anyways so you are more safe to gamble it without any issues.

In a way, yes, but also it would be better used in an investment rather than in a casino gamble.

And the faster you do it, the better returns.

Tomorrow's value of that money will be way less than what it is today in a high inflation environment.

[angrybirdy]

Answer is in my opinion, consider your country's inflation. If inflation is high enough your money is worthless anyways so you are more safe to gamble it without any issues.

In a way, yes, but also it would be better used in an investment rather than in a casino gamble.

And the faster you do it, the better returns.

Tomorrow's value of that money will be way less than what it is today in a high inflation environment.

That's a good suggestion tho, but if a person knows how to handle well their own finances, their own self and decision making then I think there's now way telling them to stop doing gambling and just focus in investment. Why we suggest to stop if they can manage to do both, at the end of the day, it's a matter of how you will enjoy yourself while doing the things that you really want to do and not causing any trouble in your personal being.

[bitgolden]

Everyone's income level is different, and budget planning is very different. There are those who manage money wisely, and there are those who live from paycheck to paycheck, spending everything they earn. I think that you need to spend not 5-10% of your salary, but first distribute the money for all necessary needs and see how much you can save from your salary, and only from the money that you save, take 5-10% for gambling, then this will be imperceptible in case of loss.

I would say it will be more wise to plan those 5-10% from salary not only on gambling, but on entertainment in general. And a person can balance between how he is allowed to bet, taking into consideration that he wants to go to cinema this month or planned other activity. If gambling will be in a category of entertainment, it will help to resist from being greedy and want to try to win more or chase losses.

This is exactly the way I am approaching it all, because we all go out, like just recently my wife had her birthday and we spent a whopping 100 dollars total, which may not be a huge amount in other parts of the world, but in my country it is an insane amount of money, but she has been going through some very terrible period on her life, so I wanted to spoil her, and I made something amazing for her and of course all her friends were invited and we had a great night, I wanted to make sure that her morale was higher and she had a day to remember until she dies, and I am sure that it will be like that.

So, if I am capable of doing that, betting about 10-20 dollars weekly, which I do not lose all, could be a very possible thing that won't change much in my life.

[arwin100]

Answer is in my opinion, consider your country's inflation. If inflation is high enough your money is worthless anyways so you are more safe to gamble it without any issues.

In a way, yes, but also it would be better used in an investment rather than in a casino gamble.

And the faster you do it, the better returns.

Tomorrow's value of that money will be way less than what it is today in a high inflation environment.

I guess he has money to spend on his investment but its better to suggest what better figure he should use for his gambling activity since maybe he's confused on what figures is best to used since maybe he want to have proper budgeting on all activities he want to do. Then provably maybe 5%-10% of his income is better to use for this activities since this could not hurt him so bad if he lost that amount but as well he could enjoy the amount he used especially if he is not the type of person who bet all trying to gain fast profit. Just aim to have fun and bet small for sure he can get satisfied with that amount especially if they have good discipline.