Gambling Budgeting

[SPIDERMAN008]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

[Frankolala]

This is a repeated topic on this board and you will still get the same answers that was given in the previous similar topics. I do set aside money for my gambling budget whenever, I get paid so that I don't get carried away by my emotions and gamble beyond my gambling budget because it's gon affect my way of living. Setting a gambling budget combs irresponsible gambling because it enable you to stop the game at the right time.

[YOSHIE]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Do you understand cold money, tips or side money, apart from your main income/salary?
I may have said that several times in other places, you need to know that you are involved in gambling and carrying out risky gambling activities.

This means that if you enter the gambling arena, it means you are ready to lose what you have, for that reason, use the money I mentioned above in betting, the reason is: you are still safe for your needs as you are the person in charge of your family or you are still single, if you gamble forjust fun.

Carry out financial management properly, separate gambling money from principal money, if you want to stay safe.

[Charles-Tim]

I was finding my Stake account with $5 weekly before, but recently I changed it to $10 every week. I gamble with just the little amount of money and I do not care and not affected if I lost all the weekly $10 because I can afford to lose it. I do not keep separate gambling fund but I am not using more than the percentage that I want to use for gambling but the money is on my account on the gambling site which is my gambling budget.

[SPIDERMAN008]

This is a repeated topic on this board and you will still get the same answers that was given in the previous similar topics. I do set aside money for my gambling budget whenever, I get paid so that I don't get carried away by my emotions and gamble beyond my gambling budget because it's gon affect my way of living. Setting a gambling budget combs irresponsible gambling because it enable you to stop the game at the right time.

I have joined this forum for a few months. Since I started discussing gambling, I have not seen any such topic. That is why I opened it because I am also very aware of gambling with a fixed budget. If anyone else can share their experiences, then the new ones will not go down the wrong path.

[Pandu Geddon]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

I separate the gambling budget from the necessities budget. I have my own account for the fun budget, which I allocate every time I receive money. 
It's important to manage finances even if you are not a gambler. For gamblers, it may seem like it limits the money they can bet. But in reality, it saves gamblers from financial problems. 
Managing gambling money separately is a good step.

[dunfida]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Im a certain person whose really that careful when it comes to spending money but if we do speak about gambling budget then its something that i dont do but rather i do only spend on a week basing up on my extra, means extra amount is about into the amount that left when i had already paid up the bills, groceries and amortization and if  there's still that amount left then i would be gambling for that day or week and if i havent then i would definitely skip out. I've been doing these for years and i dont see any issues with this and as long you do have that control and moderation then there would be no issues because this is where most gamblers do really ending up on messing up their financial just because they've been just that having no moderation specially when it comes spending money on gambling on which they've been always having that excessive approach and spending and thats why they do end up on a disaster just because of this.

[Aanuoluwatofunmi]

If you are well disciplined enough and know how to manage finances, then you may risk it by having a combined account to use for gambling and other things, but this is not advisable because you may lose focus along the line and miss out what you shouldn't do, if you know that you are the kind that is very careless in handling money or anything that has to do with management of your financial account, them better have a separate account and this will help you not to go beyond your budget for gambling.

[SmartGold01]

For sure I keep gambling budgets as I do not gamble randomly because it would make me spend without knowing where my money is going into. So as a gambler when you allocate specific funds to gamble it would make you take good record of how much you are spending while gambling and it would help you control your loses. For instance when you allocate 100$ for this week whenever the money is exhausted it would enable to hold break till you get refilled back. With this you would know how much you are spending and how much that is going into gambling, the best is allocate either 1-5 % of your monthly or weekly income to gamble.

[Judith87403]

I don't gamble, hence I do not have the need of keeping a gambling budget.

Haven said that, from the view of money management, separating it actually makes a lot of sense. Gambling is entertainment, it isn't an investment. If it begins to share space with food, rent, savings, or trading capital, then it gets very easy to cross boundaries without you noticing it. That is always how just for fun gradually turns out to be stress.

A separate budget that is fixed makes room for a clear boundary. As soon as it is used up, you stop. Topping up from living expenses will not be necessary. No borrowing from funds meant for investment.

When someone decides to gamble, to treat it like you are paying for a movie or a concert, having a strict cap is the the safest strategy.

[Miles2006]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Everyone has different planning pattern when it comes to budget, involving gambling also has different plans. Keeping track of the funds used monthly is actually a basic knowledge, without a proper track I’m sure the person in question will mix everything up and get confused at the end reason why many suffer financially due to lack of proper management. Gambling for fun can help a person stop when it’s necessary, definitely there’s no emotion attached and the funds use is not worth the stress, always gamble the little you can afford to lose.

[FirmWars]

My gambling budget comes from my weekly payment which I will either allocate some amount for gambling and withdraw the remaining amount for other purposes, it's not like that all the time because there are some weeks I might not make withdrawal of the weekly payment and during those times, I manage every funds on my balance together but I don't go against my the amount I intend gambling with, if the urge is getting too much to be resisted, I will withdraw the money to another place where I won't have to gamble with it effortlessly.

[Hispo]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Keeping track of the money one has lost to the casino and establishing a healthy budget in order to gambling are actually two separate things, which serve different purposes.
If someone started to keep a track on how much one has deposited and lost to casinos, it creates and feeling of urgency to break even, which can at the same time prompt one to gamble more, for the sake of recovering money. It is pretty much the same as chasing losses, but in the long term.

The best approach is to set a separate budget, but not to track the money, or keep a register of the accumulated losses through months or years. One just needs to forget about what one has deposited and get as much fun as possible from one's gambling sessions.

That's all.

[Patikno]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Personally, I almost always separate my gambling budget from my daily expenses, and I think it is necessary to simplify budgeting.

Sometimes, I also manage everything together in one place, but I have to calculate for various needs and then determine how much of my funds can be used for gambling. By this way, I avoid miscalculations, which means I can avoid gambling with money I can't afford to lose. Well, whatever method we use to budget for gambling, whether it involves separating funds or not, we must always remember the importance of gambling with money we "can afford to lose", so that we don't experience unwanted financial risks, and I think this is the main foundation of responsible gambling.

[Agbe]

The most important thing is discipline and knowing that there is a limit you are not supposed to cross. setting a budget aside for gambling is important but not everyone that doesn't do this end up having huge losses. If you have been gambling for a while and active on this section of the forum you should be experienced enough to understand how to manage your finances when gambling. Even if you set a budget aside it takes discipline to stick to it.

[Kelward]

I was finding my Stake account with $5 weekly before, but recently I changed it to $10 every week. I gamble with just the little amount of money and I do not care and not affected if I lost all the weekly $10 because I can afford to lose it. I do not keep separate gambling fund but I am not using more than the percentage that I want to use for gambling but the money is on my account on the gambling site which is my gambling budget.

Having budget for your expenses during the week or month is important, not just gambling budget but for everything that you will allocate money for before another income lands in your account. My style of budget is similar to yours I allocate money by percentage, from my total income in a month I decide the percentage that I'm comfortable to gamble with. My total income is 100% and I decide how much goes where including gambling and savings that is how I structure my expenses so I don't overspend on anything. This is why I never chase loses because I cannot fund my gambling account with excess bankroll to have enough reserve to chase loses.

[Gost ms]

Creating a separate budget is very important for a person and it becomes much easier to manage finances properly. For example, if someone sets a budget for gambling $100 per week and sets a profit of $100, then it will be very convenient for him. For example, if he loses the entire amount of money in a week, he will not gamble again that week and will refrain from gambling or if he is able to meet the profit target, he will not gamble again that week. In this way, if someone sets a budget, he will be able to protect himself from addiction and his financial situation will not be under much pressure. So gambling by setting a budget will be much better for a person.

[cxtreenal]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

I consider gambling a form of entertainment and I allocate a portion of my income for entertainment. If you do not allocate a certain amount of funds for gambling or do not allocate a budget, you will not be able to control yourself when gambling. To prevent gambling addiction, you need to limit your money allocation to a certain level.
Although gambling is for entertainment, many gamblers gamble to make money, which results in them losing excessive amounts of money and becoming more out of control if they do not set financial limits.

[X-ray]

I keep it separate. It's a part of my strategy to gambling responsibly. When i'm not sure i can't control myself, then i always try to separate the money used for gambling. So when i lost it all, i feel nothing caused by it's the fund that i can afford to lose it.

Mixing your gambling budged with your other budget is dumb. It's caused by when you lost the control over yourself, you will lost it all.

[panjul07]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

First of all, there is no one who is gambling merely for fun, if there is someone claim himself as gambler who is gambling merely for fun, it is simply a LIE.
Coming up to how to manage gambling funds, of course having separated funds is better to minimize the possibility of using your other funds although it will always depending on yourself.
Because there will be always a chance for you to use other funds to gamble even if you have separated funds because you are out of control.
Frankly, I do manage my gambling budget on different wallet, once it is empty then I will not refill it with other funds although I still have money in other wallet.
I will refill it once I have more funds which may come from other sources but I will never take a single cent from the wallet that I use to keep my money for other things just to refill my gambling wallet.