UPDATED DATA : June 17, 2020, 2:51 am

Two Rules of Money Management When in a Casino

Everybody comes to a casino to have some fun. We meet some friends, have a little chit-chat, grab a few drinks, and enjoy the games. At times people win some when they play, and there are times that they do lose (in fact, you get to lose more times than win if you're not careful).

It's a terrible situation when players lose all their money to the casino. There are even those who play and win a little, and only end up to lose all their money including what winnings they had. Times like these, one is reminded of the principles of money management. If you are better able to manage your money in a casino, the better you can walk away without any guilt feelings as the day ends. Here are a couple of rules on money management when we walk in a casino.

Money management is essential whenever we plan to play in a casino. When we speak of money management with regard to casinos, we are most definitely referring to managing our bankrolls. The first rule (and one you should never forget nor break) when it comes to money management is to never use any money you can never afford to lose.

Some people go all out when they play in a casino. Unwittingly these people who don't apply our first rule of money management lose everything they brought with them. It will not be surprising if they walk out flat broke since they lost control and spent the other money that was supposed to be used for matters other than gambling in a casino.

One good thing we can do to make sure we don't spend more money is to make a budget. Determine your needs first (like bills, food, clothing needs, utilities etc.) and set money aside for that. And then the excess money will be for your luxury at the casino.

Bring only your luxury money into the casino and leave the rest behind. This way you don't spend more cash and you don't leave flat broke. You also avoid a lot of guilt when follow this money management rule. The next rule is tied to this principle, and that is to never gamble with money you borrowed.

To cut things short, this simply means don't bring your credit cards along to the casino. Using your credit card when you run out of luxury money is bad money management. There are hidden charges when you do a cash advance off your card through a casino. The hidden charges total up to 7% of your total cash advance. The second rule of money management therefore is to leave your credit card behind as well.

Spending only the money you have for casino games and not playing on borrowed money are two rules of money management you should never break. You'll save yourself from a lot of guilt when you obey these simple rules.