Problem Gambling and Financial stress

Financial stress due to gambling

Research has shown a strong relationship between financial stress and problem gambling.


One missed payment becomes two, becomes another credit card to try and catch up. And then you realize it's been weeks since you have thought about anything except your bills and loans and credit card debt...

The impact of financial stress on individuals, families and communities can be severely detrimental. It is not uncommon for individuals undergoing financial stress to experience additional problems such as anxiety, depression and other mental health conditions, suicidality and suicide, relationship problems, substance misuse, poor productivity at work, domestic violence, legal issues, homelessness and gambling.

Gambling can be seen as an easy way to make money. But problem gambling can lead to chasing losses and incurring ever more debt and financial stress. This then leads to the need for financial counselling, financial literacy education and gambling counselling.


Financial literacy means possessing a set of skills and knowledge on financial matters to confidently take effective action that best fulfils an individual's personal and family goals.

It allows an individual to make informed and effective decisions through their understanding of finances and to take effective actions regarding the current and future use and management of money. It includes the ability to understand financial choices, plan for the future, spend wisely, and manage the challenges associated with life events such as a job loss, saving for retirement, or paying for a child's education.

It is about knowing the principles and methods used to acquire and manage income and assets effectively for a lifetime of financial security.

Financial literacy refers to an evolving state of competency that enables each individual to respond effectively to ever-changing personal and economic circumstances; it is a continuum of abilities that is subject to variables such as age, family, culture, and residence


Financial counselling is a profession that specializes in assisting people with all levels of financial difficulties. Financial counsellors provide information, support and advocacy to help people deal with immediate financial problems and minimise the risk of future problems.

We help people with issues ranging from learning basic budgeting skills to assisting someone to file for bankruptcy or to deal with property repossession or electricity disconnection.

We also provide education around financial literacy skills, and knowledge and the rights and responsibilities of being a consumer.

We aim to empower the client to make informed financial choices and begin to be their own advocate in their lives so as to prevent further financial loss and perhaps recoup other losses such as relationships and opportunities.

Financial counselling also involves identifying where there are gaps in a client's support network. We then provide referrals to gambling counselling, GP assessment for mental and physical health issues, legal support services and many others.

It is recommended that a person with a gambling problem or those affected by problem gambling, seek the advice and support of both a financial counsellor and gambling counsellor.

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