Gambling and debt
When you start to receive more bills than junk mail, sheer desperation can lead you to turn to other outlets as a means of resolving your mounting debt. Instead of seeking immediate debt solutions like a loan or an IVA, you may feel as though you can resolve your difficulties by relying on lady luck…
Putting a pound or two aside for the National Lottery once a week is all perfectly well but with gambling opportunities coming at you from every direction, even the most strongest of willpower could feel the strain let alone those who are in debt. With gambling it is a no win situation, if you win, you play more. If you lose, you keep playing until you do win.
Whether it is the local betting shop, addictive online casinos or phone in TV quiz shows, the temptation to make that big win to pay off all of your debts is a wonderful dream but in reality, you are adding even more debt to your already growing list of debts and with the internet throwing gambling opportunities at your feet, it is so easy to run up thousands of pounds of extra money worries.
If you are gambling out of desperation in the hope of clearing outstanding debt, the first thing to do is keep calm as the more you worry about your financial situation, the more likely you are to continue gambling. The next step is to take responsibility for your financial situation by seeking the advice of a debt management company or a free debt advice centre who will take an impartial look at your finances and work out a way to resolve them practically, not by chance as with gambling.
In time, you will see that gambling is not a quick fix answer to your financial problems but a downward spiral to bankruptcy. The only ones profiting from your gambling are the companies that entice you into this ring of deception in the first place.
Savings News posted on 30/05/2007 15:32:03
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