June 13, 2013 by Liberty
*This is part of a 13 part series that will be updated daily. Be sure to follow this blog with the message on the sidebar to not miss out on all the lessons.*
Nothing can do better things for a person’s financial habits than an education into gambling. Gambling is a great training ground for every life decision that you make. Life is a gamble. Everything that you do is weighing the benefits and costs in a system that you can’t predict.
One of the most important things you’ll learn to do is to get disciplined. When you’re not disciplined in life, you lose. When you’re not disciplined in gambling, you feel the loss bad. Some people go as far as losing their homes gambling. Those mistakes you make gambling are important. When you do something absurdly stupid, if you have any logic left, you will stop and think about what you did.
Gambling is about self reliance. This is particularly true in games that you’re gambling against other players. You cannot count on anyone else looking for your interests. You need to be on alert and keep track of everyone else.
The last skill that you learn to understand is bankroll management. In life, most people, will always have limited funds available to them. Gambling is the same way. It encourages positive risk taking with the limited funds and punishes stupid risk taking. You need to know how to manage the money that you have so it will last.
Once you understand a gambling game, holding on to your money one of the most important factors.
Transferring that skill to life is almost completely natural after that.