Payday

Hi Sandals, I'm replying because I got made redundant last week, got my final pay packet and promptly spunked it on roulette along with all my saving too!

I got in to such a state I almost killed myself. And I mean that.

So dear god! I wouldn't wish my worst enemy to feel how I felt on Monday night.

But gambling is so dangerous because there is a chance we MAY win if we try, unlike with other addictions where we guaranteed to lose (even though we'll spend a night feeling great!)

So, if you are asking for advice, I'd say soon as your pay hits your account transfer it to a family member whom you trust (tell them you're saving for a family holiday or whatever).

Or open a savings account online right now and when midnight hits transfer it over. You won't be able to withdraw for a month and you'll be gutted you did it in the morning when you've got no money to spend - but hell, that's the same as waking up realising you've spent it all gambling. At least this way it's still yours and you're safe.

M

I can't help much as Friday night I done the exact same, I waited till 12:30am for my pay to be in the bank and I was then up till 5:30am gambling on roulette! I lost loads and managed to break even, maybe even 100 profit.. Slept for 1 hour and continued again whilst at work.. Eventually losing everything! So 12hours after being paid I had 0 in the bank!!

But I have spoken to my mum and every month now I will transfer my wages to get and pay all my bills then basically anything spare she'll give me pocket money in a way! I suggest this until everything is under control and you can trust yourself

....

Good suggestions here. I totally empathise and sympathise with you regarding pay day. It's tough for sure.

I make the most of electronic banking and just get rid of the money as soon as it is in. I don't stay up in the early hours to see it reach my account but when I wake up the following morning I literally pay my rent and bills straight away. That is a non-negotiable for me; you've got to pay the rent/mortgage/bills.

In the past, my problem has been not spending the surplus. Trying to not gamble when you have money in your current account ready to spend is hard.

Now, however, I have consolidated my loans and taken out a loan to pay them off. So each month the bank takes out a massive repayment and that is where the surplus goes! So, in a way, it makes it easier not to gamble because you don't have the funds to.

But where there's a will there is a way and there will always be pay day loan companies to find you...

Battling yourself is hard.

Hi,

It's much easier if someone else can look after your money and can move your salary out of temptation. If not, pay day is a hurdle that can be overcome but the key is to plan ahead, when the money's not there to tempt you and there's no urge. On the assumption that the bank are there to serve you and not the other way round, set up the direct debits that you need, if you don't want a face to face meeting, then you might be able to do it on line, I also write to the head office.

Open an instant saver account, these are cash card only, better one from a (former) building society. Set up direct debits to come out on pay day for priorities ie rent and utilities, also for debt repayments if you can afford them. Set up another DD to move your living expenses into the instant saver, again to come out on pay day.

When choosing an instant saver, check that it's not too easy to move the money the wrong way. Some accounts only allow on line withdrawals by BACS, this takes three days, which should be enough to slow down an urge. But an account that will allow immediate withdrawals into your current account are no good, the idea is to keep the money out of reach of your Visa card.

Hope this helps.

CW