How to Stop Gambling and Save Money
- Admit that you have a gambling addiction
- Don’t lie to cover up your gambling activities
- Seek professional help
- Avoid triggers
- Set a realistic financial goal
- Start a savings plan
- Automate your savings plan
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You must have heard the word “gamble” many times but what does it mean, in simple terms?
What is Gambling?
Gambling is when an individual risks money or valuable assets to predict the outcome of a game involving chance.
When it becomes a problem, gambling can cause low-self esteem, depression, stress, and anxiety and can become an addiction (often called “the silent killer”) if you feel out of control.
If you have spent so much on gambling and want a change, this article is for you. Though we understand that the change process is quite difficult and requires consistent and conscious effort, the good news is we are here to walk you through some of the things you can do to help you stop.
Let’s dive in.
1. Admit You are Addicted to Gambling
The hardest part of recovery is admitting that you have a problem. The easiest part is deciding to do something about it.
Anonymous
The first step to breaking gambling addiction is admitting that you are addicted to it.
This may sound cliche but it is true and will help you in the process of stopping the act.
A lot of people go into huge debts, start stealing or do worse things just to continue gambling. Admitting will help you to know that you have a problem and will push you to find a solution.
The American Psychiatric Association categorised gambling as a health condition and has listed some of the symptoms you can look out for to tell that you are struggling with breaking out of gambling.
- You feel the need to gamble with increasing amounts to achieve the desired result
- When trying to cut down or stop gambling, you become restless or irritable
- You have frequent thoughts about gambling
- Trying to use gambling as a distress mechanism
- Lying to hide gambling activities
- Getting help with money problems caused by gambling from family and friends.
- Losing close relationships or opportunities because of gambling.
Exhibiting at least 4 of the above shows that you are developing a problem and need to pay attention and seek help, not just about you promising to quit, but getting professional help.
2. Know that Addiction can be Cured
After admitting that you struggle with gambling addiction, the next step is knowing that there is hope and it can be cured.
Getting professional help will not take the addiction away overnight but will help you to channel your love for gambling into something productive and in the process get cured.
You can get help through various free resources online. There are also some apps available on Google Play or Apple Store, such as Gambling Therapy App, that can help you through breaking off from gambling. Moreover, organizations such as National Council on Problem Gambling (GCPG) are trusted organizations that will get you help.
3. Take Conscious Steps to Avoid Gambling
If you admit you are a “gambler addict,” and accept it can be cured but are not intentionally taking steps to stop the habit, you might return to it.
Some of the steps you can consider taking to avoid gambling include:
- Self Exclude
Consciously self-exclude yourself from places, situations, or friends that will instigate you to gamble. Ban yourself from places like casinos and block yourself from every gambling site.
You can also self-exclude yourself from gambling activities online, by downloading apps like Bet Blocker on your mobile phone or computer. This app helps you block all gambling-related content from reaching you.
Furthermore, if you have a friend that influences you to gamble, you might want to restrict your communication with them to avoid being talked into going to places or instigating things that will push you to gamble.
- Don’t Lie About Gambling
Another conscious step you can take is telling a trusted person about your addiction. Do not use lies to cover up your gambling activities. Lying to people about how you get into a money problem, especially, debt, can lead to more debt.
Telling the truth relieves you of pressure and helps you to be more deliberate toward your recovery plan.
- Relax and Exercise
Both relaxation and exercise contribute to one’s overall well-being as it helps to manage stress, and control impulses.
Relaxation, such as meditation, breathing exercises, and progressive muscle relaxation, can help you combat the urge to gamble and alleviate the anxiety associated with the addiction. By doing these exercises, you can recognize and manage triggers, reduce cravings, and improve your overall emotional well-being.
Since gambling addiction is often fuelled by stress, engaging in activities that promote stress reduction can aid in the recovery process. Alongside other stress-relieving practices, an individual struggling with gambling addiction can also explore listening to soothing music and practising mindfulness.
Moreover, engaging in physical exercises, such as brisk walking, jogging, running, cycling, swimming, or dancing, helps release endorphins, which elevate your mood and reduce stress and anxiety.
- Find a Hobby
Engaging in a hobby, like reading, writing, gardening, painting, or playing a musical instrument, helps you take your mind off things. It helps you to channel your feelings constructively and expressively. This emotional outlet can prevent the need to seek relief through gambling.
- Do Other Things When You Feel Like Gambling
The process of recovering from gambling will not happen overnight, so while you are still on the journey, you will feel the urge to gamble. But, what you do with the urge is what matters most to your recovery.
Anytime you feel like gambling again or you did, you can do the following:
- Talk to a trusted person about how you feel
- Exercise or jump on your hobby
- Write out your feeling in a journal. Take note of what triggered it and what helped
- Control cash flow. Do this by limiting the amount of cash you take out
4. Build A Saving Habit
One of the ways you can prevent gambling is by limiting the amount of cash you have at hand. And you can achieve this by saving money on Cowrywise.
There are several savings options available on the app such as Regular savings, Halal savings, Money Duo and Saving Circles. You can lock your money for as long as a year and can lock it again after the maturity date.
5. Set Realistic Financial Goals
When you have a clear financial goal in mind, saving becomes easier. It is necessary to establish both short and long-term financial goals that are attainable. It could either be creating an emergency fund, saving for a dream vacation, or planning for retirement. Putting all of these in place will be a motivation, helping you to redirect your financial resources towards constructive purposes.
6. Automate Your Savings
You can set up an automatic transfer from your bank account to your savings plans on the app. Doing this will make it more difficult to access money for gambling purposes. This action helps you to reinforce your saving commitment and prevent impulsive spending.
Bottom Line
Overcoming gambling addiction and saving money go hand in hand when it comes to regaining financial control of your life. Admitting that you have a problem, seeking help, and following through with the above steps will help you break free from the cycle and pave the way toward financial freedom.
The journey can be challenging, but with a commitment to change, you can overcome gambling addiction and build a brighter future for yourself.
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Please I really need help I am dying slowly because of gambling . I want to stop but the more I tried, the more I failed. I am owning huge amount of money because of gambling. Please help me come out of this problem
Gambling is not a addiction it is a disease