Online Calculator | Be Careful As Gambling Can Increase Your Debt Problems

Be Careful As Gambling Can Increase Your Debt Problems

I have a friend who is called Emma. She is not exactly what you would call good with money and I am often amazed at the amounts she spends when we go out shopping together. Emma earns a fairly good wage working for a pet insurance company but many people would probably expect that she earns three times this amount by her attitude towards money.

About a year ago, Emma confided to me that she was in quite a large amount of debt. She had bought a lot of items on her credit cards and had been unable to make all of the repayments. Emma also had a car loan which she also found hard to pay back, she of course had to drive around in the best car. Emma said that it was not a problem as she was looking into ways of reducing these debts and had read many debt consolidation articles on the internet, which had provided her with some useful information.

Six months later, Emma confided in me again. She now stated that she was in too deep and that she had been stupid as she had tried to gamble her way out of debt. I could not believe it, however tried to remain positive for her sake. I asked her to explain what had happened. She replied that she had started to play poker on the internet. Originally it was only for a bit of fun and in the first two months she was up around three hundred dollars. As I am fairly sure a lot of other players do Emma became quite cocky after her initial successes and believed that by playing on higher stakes tables she could wipe out her debts completely. Her winning streak was not to last and she ended up losing a lot of money.

Emma is still finding it hard to pay back all of the money she owes various people and companies, but has realised that gambling is not a form of debt solution for her. She now has a second income offering a DVD duplication service on a part-time basis.

In conclusion GAMBLING can easily add to your debt woes – do not even go there!

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