Do you experience a gambling addiction or know someone who does? If so, the following tips can help you learn how to stop gambling and save money.
- Tip 1: Be Honest with Yourself
- Tip 2: Be Honest with Others
- Tip 3: Identify Trigger Events
- Tip 4: Use a Prize-Linked Savings App
- Tip 5: Make a Plan to Keep Yourself Busy
- Tip 6: Use a Gambling Blocker or Self-Exclude
- Tip 7: Eliminate/Limit Your Access to Money
- There Is Help
Tip 1: Be Honest with Yourself
Do you find yourself justifying your actions to gamble? Addiction counselor Steve Rose identifies gambling fallacies as lies or false excuses that we make to justify our actions to gamble. For example, he describes the “I feel lucky today” sentiment as a lie. It creates a sense of “false hope” used to justify or feed a person’s gambling addiction.
You also need to ask yourself what the consequences will be if you decide to gamble. Think about the impact it could have on loved ones. True, you could win the jackpot, but is it worth the strain and pressure on your family relationships?
Giving yourself time to think before you act on a sudden urge to gamble can spare you the heartache and financial stress that comes with giving in.
Tip 2: Be Honest with Others
Be honest and open with others about your gambling addiction. Doing so might be hard and require vulnerability. By choosing not to be honest, however, you can do more harm than good. A former gambling addict expressed his biggest regret was not being honest and open with his wife about his gambling addiction. Eventually, she discovered the debt he had accumulated because of his addiction. Not only was their relationship damaged, but he had also lost her trust.
Talk to someone you trust. This way, you can hold yourself accountable and get the support you need to stop gambling. If necessary, visit a therapist who specializes in gambling addictions as they are an invaluable resource.
It’s difficult to know how people will react when you tell them you have a gambling addiction. There is the chance that your spouse, friend, or family member could react differently than you anticipated. Keeping this in mind will help equip you for both the best and worst-case scenarios.
Tip 3: Identify Trigger Events
Ask yourself when or what causes you to feel the urge to gamble. Is it at a specific time? Is it when you’re bored and online? Identifying trigger events can help you avoid these situations or replace them with alternative activities. It will also help you learn how to manage and cope with your urges and gain greater control over them.
Tip 4: Use a Prize-Linked Savings App
Finding a healthy alternative to gambling could be part of the solution. The trick is finding one that doesn’t exacerbate the problem. That’s where our PrizePool app comes in.
PrizePool is a free prize-linked savings app that rewards you for saving money and earns you tickets for a chance to win a weekly cash prize. If you don’t win, you still get to keep your money. If you do win a prize, you’ve just boosted your savings and chances to win additional prizes.
The idea is that the more you save, the greater the chances are that you will win a prize, including the monthly $10,000 Grand Prize. The app makes saving fun and exciting, like winning the lottery – without the risk.
Tip 5: Make a Plan to Keep Yourself Busy
Creating a plan is a valuable method to keep yourself distracted and busy to avoid the temptation to gamble. It’s also an effective way to plan around your identified trigger events. Fill your calendar with things you need to do for work, projects that need to be done, or activities you enjoy that will replace the moments you find yourself gambling the most.
Tip 6: Use a Gambling Blocker or Self-Exclude
A gambling blocker is a software or app that prevents you from accessing gambling sites. These can be an excellent starting point if you want to stop gambling. Keep in mind that some of these apps cost money.
Another alternative is to self-exclude or ban yourself from gambling locations or sites. If you choose to go this route, it may help to have someone like your spouse or family member with you – especially if you feel tempted to gamble one last time or you decide to back out at the last minute.
Tip 7: Eliminate/Limit Your Access to Money
Non-profit mental health organization HelpGuide suggests eliminating or limiting your access to money. It can be an essential step toward addiction recovery and financial wellness. If you don’t have access to cash, you won’t spend it on gambling. Get rid of credit cards or have someone you trust (such as your spouse) take over and manage your finances for you.
There Is Help
Gambling addiction is treatable. The sooner you get help, the sooner you can recover. You may need to seek professional help depending on your situation. If you don’t know where to start or where to go for help, there is a free and confidential helpline available that can point you in the right direction.