How to Build Financial Security While Living with Someone Suffering from Problem Gambling
Problem gambling is often referred to as a “hidden addiction” because its signs are not as easily detectable as those of substance abuse disorders. At the Florida Council on Compulsive Gambling (FCCG), we understand the challenges faced by individuals and families affected by gambling addiction. This blog post aims to shed light on the financial aspects of problem gambling and provide guidance for those who may be sharing finances with someone struggling with this issue.
Understanding the Financial Impact
Problem gambling can start small but quickly spiral out of control. What begins as recreational gambling can escalate into a serious addiction, leading to significant financial distress. Unlike other addictions, gambling problems are often only revealed when financial difficulties become apparent. By then, the damage may already be extensive.
Recognizing the Signs
Pathological lying is a common side effect of disordered gambling. A person who previously may have been honest might begin to lie frequently about their whereabouts and spending habits. This deception is often a means to continue gambling without interference.
Financial bailouts are another red flag. If your partner frequently asks for money to cover basic expenses like bills or groceries, it could indicate that their gambling has consumed their income.
Take our free Loved Ones Assessment Quiz to learn more.
Protecting Your Finances
If you suspect your loved one has a gambling problem, it’s crucial to take steps to protect your shared finances:
- Conduct a financial audit: Review all bank accounts, savings, retirement funds, and even children’s college funds. Some individuals may go as far as refinancing the home without their partner’s knowledge. Contact the 888-ADMIT-IT HelpLine to inquire about free financial literature that can help you tackle the challenge, including the FCCG’s Financial Debt & Budgeting Toolkit and its A Chance for Change Workbooks.
- Limit access to cash: Consider lowering daily ATM withdrawal limits and removing your name from credit cards. Leave the person with a single card with a low limit if necessary. Contact the 888-ADMIT-IT HelpLine to learn about Access to Cash Self-Exclusion Programs for blocking access to gambling facility ATMs and more.
- Avoid enabling: Don’t provide cash for bills or groceries. Instead, use gift cards or pay bills directly. Resist the urge to give a cash allowance, as even small amounts can fuel the addiction. FCCG’s A Chance for Change Workbook Series for Loved Ones helps you approach the delicate balance of mending relationships and trust.
- Seek professional help: If debt has accumulated, consider working with a debt management program (referrals available through the 888-ADMIT-IT HelpLine) to navigate the financial challenges.
Having the Difficult Conversation
Addressing problem gambling with your loved one can be challenging. It’s important to approach the subject with empathy while being firm about the need for change. Remember that you cannot force an addict to stop; they must make that decision themselves. However, you can set boundaries to protect your family’s financial well-being.
The Role of Manipulation
Be aware that individuals struggling with gambling addiction may use manipulation tactics to continue their behavior. They might resist attempts to limit their access to money or push back against suggestions to seek help. It’s crucial to stay strong and maintain the boundaries you’ve set.
Education and Support are Key
Educating yourself about problem gambling is an essential step in addressing this issue. Understanding the symptoms and available resources can help you navigate this difficult situation more effectively. Remember, you are not alone in this struggle.
Help is Available 24/7: Don’t Wait to Call or Text 888-ADMIT-IT
If you’re concerned about your own gambling habits or those of a loved one, know that support is just a phone call away. Reach out to the 24/7, Confidential, and Multilingual 888-ADMIT-IT Problem Gambling HelpLine today. HelpLine Specialists familiar with the impacts you’re experiencing can provide you with information, resources, and support to help you or your loved one on the path to recovery. Don’t let gambling addiction control your life or devastate your finances. Take the first step towards help and hope: 888-ADMIT-IT!