Budgeting starts from personal budget then gambling budget.

[Marvelockg]

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?

[Charles-Tim]

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.

[Sanitough]

That’s why there’s a famous line, gamble only what you can afford to lose. Gambling should always come after you’ve taken care of your personal budget, basic needs, and savings. If we’re already struggling to cover our daily living expenses, then that only means one thing.. we simply can’t afford to gamble.

[Zlantann]

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?

People have a scale of preference, hence they spend their money based on order of importance. Some people might prefer to spend money on movies, junk, cigarettes, and other unimportant needs instead of gambling. The level of fun they derive from an activity will determine how much they will spend on it.

But just as you have highlighted these expenses might not bring returns like gambling. Gambling occupies a low position in the scale of preference because  I use an insignificant part of my income to engage in it, as the returns are not certain.

[DubemIfedigbo001]

I agree with your general point which is that being conscious of little things around us that matters can have a way to influence our attitudes to gambling. Although I tend to disagree with a few of your scenarios.

Truth be told, if we practice good cashflow management, we would be able to apportion every penny that comes to us into the various mediums of utility and still have discretionary income which we can either save or invest. A large chunk of mistakes is done when we don't plan out our finances firstly before going ahead to start spending it. If proper planning is done, we can open the possibility of stricter discipline in our gambling activities by only engaging in it only with funds allocated to it which for me is less than 3% of your income.

[Apocollapse]

Count me in, I'm someone who not making budget for personal, but I do make budget for gambling.

I use minimalist lifestyle where I prioritize my needs and I try to buy the cheapest. Let's say I want to buy sunscreen, instead of buy the small product which only cost $5 for 100ml, I will buy the big one which cost $30 for 1L. That's save me $20 and I get the same size.

I'm making sure that I won't spend something that don't add anything to me, however when I making budget for gambling, it works effectively and I don't make more deposit if I ran out of my bankroll.

[bitbollo]

I would definitely agree with you, budgeting is ESSENTIAL and could maximize earnings/profits/expenditures and so on.
Some people told to me = well but this is a tiny fraction that could be earned on this way... I know but if you are earning even 5% of your yearly salary in that way you can have 1-2 monthly salary for FREE! Just optimizing your expenses.
If you apply the same in gambling you can "gamble for free" or at least without the stress of losing money.
I think this is wise decision...

[Kelward]

That’s why there’s a famous line, gamble only what you can afford to lose. Gambling should always come after you’ve taken care of your personal budget, basic needs, and savings. If we’re already struggling to cover our daily living expenses, then that only means one thing.. we simply can’t afford to gamble.

I totally agree with you and the OP,  before removing funds for gambling from your income you need to first satisfy your personal needs. Personal needs are expenses that you cannot afford to ignore like food and rent after which you make provision for discretionary funds, from their is where you'll remove funds for gambling. If your income cannot satisfy your primary needs that means that there wouldn't be a provision for gambling fund. It'll simply mean that you don't have amount that you can afford to loose. Every responsible gambler should have a budget for their income, it is from their that you will decide the amount that is convenient for you to spend on gambling that won't affect you negatively.

[traderethereum]

Gambling budgeting is important so you don't use more money. But not many people aware of this instead just continue deposit whenever they lose in gambling. That will make them bankrupt anytime and don't realize what happen to them. It is why gambling budgeting is the must thing you should do because that will prevent from using the money for other needs.

But if you want to succeed with your gambling budgeting, you need to have discipline and strong self control because the temptation to deposit more money will be there. It will related to allocation the money to the right place so you will not take the money from other needs just to gambling.

[Ruttoshi]

What's your take on this?

Are you saying that we should gamble with the money for our minor expenses because we can make profits from that money instead of using it for ourselves and families. I don't see think that's ideal because it means that you want to start gambling with an amount that you can afford to lose. Your win is not guaranteed because gambling is a game of luck.

It also means that you are taking gambling as your priority which is wrong. Have a gamble budget and stop gambling when you have exhausted your budget for that week until you have refilled it the next week. If you have kids, or people living under your roof that it's your duty to take care of them, you can't avoid little expenses.

[TheUltraElite]

Personal budgeting will not improve gambling outcomes. It will minimize the amount of loss but never bring in profit or something good.

There are methods to handle gambling losses but all of them are only bandaid like. If you want to improve in gambling you have to stop gambling.

It might sound like a deal breaker but it is the truth. However much you try to budget you will not be able to save unless you stop.

[Cityhunter34]

One thing you most understand is that, each and everyone us here have different ways we do things. So is left for you to decide if you can add up your expenses into gambling because is pretty obvious that there is no how you can easily to tell someone to leave other things he or she is doing aside, and only focus on gambling. It would never be possible because gambling is not something to rely on heavily, is better to engage on other things aside from gambling than using it to Play gambling that you are not sure about the final outcome.

[Perfectbaby]

Of course you are right and people do not usually count those ones as loses because it's not going directly into gambling budgets. One thing for sure is that whenever a gambler starts classifying every single amount into gambling then I might say that they wouldn't be that far from getting addicted while gambling, to me let the money mapped out for gambling should be for gambling and the money mapped out for other expenses should be for that irrespective of how little or small it could be. People must not give account on every single expense they are making from their finances or even classified them into gambling because sometimes there could be loses incurred while gambling.

[ultrloa]

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?

You should think about using the amount left after you done paying attention on your bills , investment and other necessities. What money left(extra funds) can be used for gambling.

But don't think about using all of extra funds since maybe you might get a problem if it happens you lose all of it. So maybe try to spend only 1%  or even 5% on the excess funds you have.

If you really want to practice better start with disciplining yourself towards on your spending's so that you can separate everything and have proper budgeting towards on where you want to spend your money.

[EluguHcman]

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 don't think there is a point to argue this. You are absolutely right. The primary goal of making budgets is to strive on maximizing our profits.
And as disciplinary investors or traders, there is every necessity to also note that there are leisure basis which we also make expenses that probably won't bring improvements to our source of incomes rather than consuming.

Meanwhile... Without a drastic measures of how we should manage our incomes for long term sustainability we can not consider to gamble or spending on the unnecessary things.

So, essential needs should be considered on our budgets before fun likely... That of gambling.

[Marvelockg]

Personal budgeting will not improve gambling outcomes. It will minimize the amount of loss but never bring in profit or something good.

I'm not suggesting that doing personal budgeting will help improve the chances of winning in your games, as a matter of fact, it does not in any way have the slightest effect on the outcome of your prediction. What I'm suggesting is that, if you've never taken the need of doing personal budgeting seriously, it will be deficult to implement it in your gambling when you're hoping to do so.

If the plan of gambling with what one can afford to lose is going to be implementable, then it ought to start from doing personal financial planning like personal budgeting and then it becomes more easier to implement it while gambling. You can't really give what you don't have.

[Agbamoni]

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,

The money spent on those things could be much but they dont see it as anything because they had a nice time with it. Most persons spend similar amount on gambling too because that is one way to have good times too and let go of the stress. It all depends on the reason why we are gambling so that's it.

One thing you should also know is that, there is a time for everything. Dont consider money meant for enjoyment and fun as a waste.

[verdinio]

That?s why there?s a famous line, gamble only what you can afford to lose. Gambling should always come after you?ve taken care of your personal budget, basic needs, and savings. If we?re already struggling to cover our daily living expenses, then that only means one thing.. we simply can?t afford to gamble.

I totally agree with you and the OP,  before removing funds for gambling from your income you need to first satisfy your personal needs. Personal needs are expenses that you cannot afford to ignore like food and rent after which you make provision for discretionary funds, from their is where you'll remove funds for gambling. If your income cannot satisfy your primary needs that means that there wouldn't be a provision for gambling fund. It'll simply mean that you don't have amount that you can afford to loose. Every responsible gambler should have a budget for their income, it is from their that you will decide the amount that is convenient for you to spend on gambling that won't affect you negatively.

many people do not understand this and end up getting into debt and doing anything to play, acquaintances or even friends have come to ask me for money to play, so for me this is nothing new, many do it and put gambling as a priority, when they understand it will be too late

[Dunamisx]

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.

This has to do with priority and the order of preference to what we want from our pressing needs, sometimes it not that we forget about some needs, but we have chosen to place them under a secondary demands, so don't be surprised if some a gambler is seen attending not to other things and choose to gamble first, he might have his own reason for doing this, we cant expect people to act the same way we could have done if we are in the same position, more so, the way we all see gambling is different form each other, some derive pleasure in it and whine away their time and let go of stress, while some to make money.

[Sanitough]

That’s why there’s a famous line, gamble only what you can afford to lose. Gambling should always come after you’ve taken care of your personal budget, basic needs, and savings. If we’re already struggling to cover our daily living expenses, then that only means one thing.. we simply can’t afford to gamble.

I totally agree with you and the OP,  before removing funds for gambling from your income you need to first satisfy your personal needs. Personal needs are expenses that you cannot afford to ignore like food and rent after which you make provision for discretionary funds, from their is where you'll remove funds for gambling. If your income cannot satisfy your primary needs that means that there wouldn't be a provision for gambling fund. It'll simply mean that you don't have amount that you can afford to loose. Every responsible gambler should have a budget for their income, it is from their that you will decide the amount that is convenient for you to spend on gambling that won't affect you negatively.

We really just need to be responsible, because no one is truly safe here, whether we have a small or big gambling capital, the money we’re using is always at risk. It's also easier for poor people to get addicted, since they’re more desperate to earn money. But it’s wrong to treat gambling as a source of income, because in reality, it’s not meant for that.