Why gamble in this economy?

In 2010, lots of people are still struggling to pay their bills.  During the past three to five years, many good people have lost their jobs or been forced to take pay cuts.  For many, good jobs are not easy to find in this economy.  Regardless of your financial situation, gambling is not a viable solution.

Desperate times can inspire desperate measures

Without taking a poll, I can guarantee you that most people want to pay their bills on time.  However, sometimes people cannot afford to pay their obligations.  When certain people experience financial difficulties, they may make some irrational decisions, including gambling.

It is possible that you will hit the lottery; however, the odds are stacked against you.  Likewise, earning enough money at the casino to cover your electric bill is unlikely to occur.  Nevertheless, some people spend their non-discretionary income at the casinos or retail lottery stores.

What is the real danger of gambling with your non-discretionary income?

Even if you are struggling financially, you can make matters worse by spending $5 per week on lottery tickets.  Imagine if you added that money to your emergency fund or used that money to pay your debts.  If your lottery ticket is not a winner, you lose the opportunity to either pay down your debt or to place this money in a savings account.

If you keep gambling, you can find yourself in serious debt.  It is not uncommon to hear about individuals that lose their homes and families because of gambling.  In many cases, these individuals may be unaware of their gambling problem until it is too late.  Do not let yourself fall into this trap.  Seek the help of a financial professional before you lose everything you own and love.

Conclusion

Gambling is risky.  Therefore, your non-discretionary income must not be used to buy lottery tickets or to play slot machines.  If you realize you are having financial worries, seek immediate help from a financial professional.