What is financial resilience?
Financial resilience refers to a longer- term approach in your ability to endure events that impact your income or assets. For example, being financially resilient means that if an unexpected financial problem arose (such as job loss), you would have the means to cope with it. For most people this means preparing a budget that you stick to long-term, and often means saving for a rainy day.
Here are three tips to support your financial resilience:
- Learn responsible gambling tips that can support you:
- Gambling is a form of entertainment – not a way to make money
- Set time and money limits that are realistic and don’t exceed them
- Don’t chase your losses
- Do not borrow money to gamble
- Gamble only with the amount of money that you can afford to lose
- Take a break if you need to. Learn more about the self-exclusion program at Atlantic Lottery (PDF version)
- Set realistic financial goals for yourself: Thinking about changing your gambling or finances can be scary, especially if it has been a big part of your life for a long time. However, positive change is possible if you set goals and work to reach those goals. For example, learning to budget your money can help you reach your financial goals.
- Seek support if needed: talk to trusted family or friends about your financial goals so they can support you in becoming more financially resilient in the long term. We are also here to help. You can call the PEI Gambling Support Line if you would like to connect with other supportive services like counselling: 1-855-255-4255. This service is FREE, confidential and available 24/7.