Financial Strategies to Change By

Access to Money

  Limit access to cash. Don’t carry more money in your pocket than you need for the day.
  Remove access to credit cards. Cut up your credit card and send it back to the bank.
  Limit your access to Eftpos - it is too easy to get extra money for gambling.
  Close your cheque book and your store card accounts.
  Deposit all your income to one bank account with no ATM card attached to it. It is to be the "old-fashioned" bank book account.
  Don’t keep any spare cash in the house or on you.
  Ask a trusted friend or relative to assist in taking care of your money.

Payment of Debts

  Contact creditors and establish a payment of debts by installments. Make the installments realistic, no more than you can afford.
  See if your regular accounts can be deducted from wages by your employer directly.
  Set up an automatic debit for bill payment.
  Set up a bill paying account with no ATM access to this account.
  To avoid future financial stress, set up a budgeting plan and stick to it.
  Keep a diary of your spending for each day - this will help you to see where your money goes.

Protect Your Assets

  If you own a house/flat consider placing a caveat over your property. See your solicitor.
  A caveat is a document which will stop the Land Titles Office from administering the land, until the person placing the caveat gives their consent in writing or withdraws the caveat.
  Joint loans and bank accounts can be changed to both to sign, or transferred, to partner’s name.
  Exclude yourself from your local gambling venue.
  Be honest and ask your local shop not to cash cheques for you.

Families

  Protect yourself and your family financially.
  Protect your assets - if you own your house/flat consider placing a caveat on your property, see a solicitor.

A caveat is a document which will stop the Land Titles Office from administering the land, until the person placing the caveat gives their consent in writing or withdraws the caveat. if there is a caveat on your title, the house cannot be used as collateral unless you have been told.

  Separate your financial affairs from your gambling partner. Examples: bank accounts, property.
  Joint accounts can be transferred into your name or can be changed to both to sign.
  Don’t keep any money around the house - limit the gambler’s access to cash.
  Ensure the gambling partner pays their share of food, bills and mortgage.
  Ask family and friends not to lend money to gambling partner - don’t keep it secretive, because it enables the gambling to continue.
  Some of the above strategies may not be appropriate if there is a possibility of domestic violence.