Stop Gambling

Now my wife and I don't gamble much at all during the year. However on grand final day and the Melbourne Cup we will put money down. It just so happens that this year I put two $10 bets on. One bet was for a draw at full time. The other bet was for a draw at any of the quarters.

To make a long story short, I turned my $20 into a $480 return. But it got me thinking. How much money had I lost from gambling over my life?

I'm 29 now (nearly 30) and in the last few years I have gambled very little. Maybe $150 a year (I have got smarter with time). However from 18 to 25 I would be very surprised if I had not lost $500 a year. So all up I would suggest I have lost $4750. Let's round it up and say $5000. Wow! When you say it like this it is a lot of money.

What could you do with $5000 extra cash! There are a lot of things this money could have done. Paying off the Home Loan, adding it to my savings account or getting solar power. These are all asset building ideas. Instead the money fattened the pocket of the TAB, SportsBet, The Casino, X Lotto and the local pokies owner. WHAT A WASTE!

We in Australia are very good at gambling. Did you know we gamble more on average per person each year than any other country? Are we built this way as Aussies to be born gamblers? Or have companies who make money from gambling done an extremely good job in selling us the dream.

Well for me it does not matter. Because from the 25th of September 2010 forward my gambling days are over. No more, zero, ziltch, nothing...

In ten years time, when our family looks back, we will know not one dollar has gone to gambling companies. In fact, all this money will be kept in our pockets to be put towards our future.

How long has it been since you have thought about how much you are gambling each year? Since you have been 18, how much could you estimate you have lost? What could you have done with this money instead? If you can't give up 100%, could you cut back? If you could just cut down by $10 a month this is a saving of $120 a year. Pardon the pun, but best of luck.