Recent figures released indicate that in 2005-06 Australians gambled away $148 million or average of $9491 each*. And with the cost of petrol and food continuing to rise, more and more people are finding themselves in financial hardship.
At Savings & Loans, we have noticed an increase in cash withdrawals from our member’s accounts at venues such as pubs, clubs and the casino. We believe that as people find themselves in unfamiliar financial situation they are hoping a “quick win” will change their situation. Everybody’s situation is different. Some people can’t afford to pay their latest phone or electricity bill, while others are unable to make their mortgage repayments, which inturn could see their houses repossessed.
Have you, a friend or a family member ever placed a bet on a horse or played the pokies in the hope of winning to pay a bill?
A person’s gambling can have serious emotional, social and financial effects which can lead to depression, relationship breakdowns, social isolation and bankruptcy. However, many people may fail to see what they are doing is also effecting those around them – friends, partners and children.
Savings & Loans’ is committed to helping “build sustainable communities” and as a financial institution we would like to use our position to help people get through these tough times. Whether this is through reducing daily withdrawal limits, changing the accounts to branch only withdrawals we would like to help.
If you are currently experience problems with gambling or have in the past we would love to know your thoughts on ways in which we could have/can help you.
* Aussies spending more on gambling than food, Peter Jean, Herald Sun, June 11 2008
I don't have a gambling problem but someone close to me does, and it is devastating, they just can not control it and everything else pales into insignificance other the gambling. One thing that would be helpful is if wages can be managed so that bills can get paid before the gambler has access to the funds or if their pay can go into a joint account that can only be accessed with two signatures or they can not access electronically.
It seems to me that there is ready access to cash in all gambling venues and the person may go in with all best intentions of not over gambling but once they start they can't seem to stop. Maybe limiting access to atm's would be a good thing.
I don't think that Savings and Loans is ever going to solve the problem but there are probably a few things that you could look at that might help.
Posted by: Bob | August 08, 2008 at 02:52 PM