Establishment of a gambling fund

No matter how old you are, after paying your monthly bills, you should have clear priorities on how to manage the money available to you. Your first priority should always be to save and save. You then need to think about savings at three levels: an emergency fund, long-term savings, and entertainment money. As you can see, this last breakdown is what applies to your casino spending, this money is for everything you want, from the purchase of the smartphone you looked at in the store to the end of the weekend at the casino.

If you create a special gambling fund, it must be funded from this category of your savings plan. As long as you live on modest means, you should always be able to save money. This is literally the secret to financial success: spend less than you earn. Good money management only requires you to prioritize your savings plans, and gambling savings should be the least important of your savings priorities.

If free spins are not available

Whether or not you create a savings account for gambling, you should always plan in advance how much money you are willing to spend on gambling each time you visit a casino. Not only are you planning what is coming out, but you are also planning what is coming in. When you play, you often win too. What do you have to do with the win? It is possible that most people will never think so far ahead. For us, gambling is a form of entertainment, similar to concerts or spending a day at an amusement park. All of these things cost us money, and we are willing to spend that money, but we will not return with bags of wealth. Such things happen only in casinos. Prioritize the use of winnings in reverse order:

deposit back into the gambling fund, use the emergency fund,

invest in other long-term savings,

If the benefits of your gambling can pay for future games for a while, let it happen.

This type of discipline is easier to maintain if the gambling money is separated from everything else, even if it is just placed in an envelope in a shoebox in your closet. The less money you spend in one night, the better. You can lose everything no matter what you do, but if you want to enjoy several hours in the casino, then make sure your money lasts long enough. When you leave, you want to end the evening with satisfaction from your entertainment experience

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