What is the “Pay Yourself First” Plan?

In this article, we would like to talk about how playing online casino games at Springbok casino can be a great way to add an income stream to your base income.

While online casino games are first and foremost entertainment, and yet....if managed properly, your wins can provide an additional source of pocket money for those extra purchases you'd like to treat yourself with.

Online Gaming as Entertainment

The first step is to recognize that online casino gaming is a form of entertainment.  There are many forms of entertainment and we are all used to the idea of setting a budget for them.  For example, if you go out to eat with friends, you likely look at the prices on the menu.  You might say to yourself that any given menu item is too expensive for you and you would choose something else.  If you’re like most people you’ll be happy with your choice and you arrived at it instinctively, without a lot of analysis beforehand.

If you go to a rugby or football match, you will also know which area of seats you’ll sit in.  That is, you can afford a certain level of seat and you enjoy the game from there.

We make budgetary decisions that relate to our overall entertainment budget all the time.

Setting a Budget for Gaming

Now, we need to set a strict budget for the gaming side of our entertainment.  That’s because it’s too easy to slide into the habit of adding to our gaming budget at whim.  When we go out to eat, we might order coffee and dessert but we won’t add large sums to our restaurant budget.  The same applies to a seat at a match; once we’ve bought the seat we might add some money for some food or drink but that’s it.

Responsible gambling requires that we set a strict budget for ourselves, call that budget our gaming entertainment budget, and not add to it if it runs out.

Pay Yourself to Play

There is a great way to create a cash flow from your gaming budget and you can use the cash flow to invest in other enterprises that might give you a steady extra flow of income.  The simple “pay yourself first” plan is to set aside all your winnings from every game you play.

Let’s say that you have decided to play with R1000 tonight.  The online software keeps a running account of your bankroll by adding winnings and subtracting losses.  If you separately, “remove” all winnings you’ll see your bankroll decrease by the size of your bets not by the size of your winnings.

When you’ve made R1000 worth of bets, you’ll be finished gaming for that session but you’ll have some winnings since you “saved” all your winnings.  Now, it would be logical to simply use the winnings to help fund your next gaming session.  Our suggestion is to save the winnings in a separate “account” to use for business investments later on.

There are several benefits to doing this.

• The "pay yourself first" plan sets a clear limit to your gaming budget.
• It usually leads players to make low bets in order to stretch the gaming session.  In this way, you get the maximum amount of entertainment value from gaming at the lowest relative cost.
• It deters you from gambling at lotteries and any other gambling opportunity where there is either a win or a loss.  The pay yourself first plan requires that there be small incremental wins to build up the “savings”.  A bet on a lottery will either make you instantly rich or the entire bet is lost in one fell swoop.
• It helps you build a nest egg for investment purposes.  Many people say that they have no investments because they never can save enough money to do so.  Here, we’ve shown you how you can use online gaming to build that investment portfolio you should build for your future financial security.

Benefits of Playing Online Casino Games

Since we are talking about using winnings from online gaming to fund an investment portfolio, we would like to point out here that this leads perfectly into a discussion of one of the biggest advantages of gaming online.

When you play at Springbok Online Casino, you don’t have any travel costs.  Some travel costs are obvious: flights or car expenses, hotels, food, alcohol, shows and so on.  There are always some travel “expenses” that we don’t usually think of as travel expenses.  One is that when people are on holiday they tend to buy more “things” than when they are home.  We all go to gift shops looking for something to bring back to our special friend, children, grandchildren, nieces, or nephews—the list goes on and on.

When we are home, we go from gaming to doing the things we have to do.  When we are away we go from gaming—one form of entertainment—to another form of entertainment.

Start Investing with Small Sums

There are many investments you can make with even just a few hundred Rand.  The idea is to make the money you “saved” whilst gaming work for you in another area.  You’ll find that your winnings are available to you to invest in stocks one day, bonds the next day and so on. 

It is also very important to invest in something that you know even a little about instead of just putting it in the market.  You might not know how to do scientific research but if you study even a little you’ll increase your knowledge many times in a short period of time.

See, just by saving your winnings from gaming at Springbok you already made yourself interested in areas that you were never interested in before!  Tony Robbins, the author, entrepreneur, philanthropist and life coach says that educating himself was the best first investment he could think of.  Self-education doesn’t need to take years; it takes some time and it pays off many times over in the long run.

Make Your Own Luck

One thing you’ll notice if you apply the"pay yourself first" plan is that you’ll suddenly become interested in many things that never interested you before.  You’ll be happy to spend time just “looking around” because looking around is a great way to see things that never caught your eye before.

The more you look, the more you see!  So, you see, by playing online casino games here at Springbok, it is possible to set yourself on a more financially secure path than before!