"A penny saved is a penny earned." -Benjamin Franklin
This quote by the well-known Founding Father summarizes the most fundamental idea behind the lexicon of personal finance. Budgeting often gives the impression that it is some sort of mysterious and forsaken talent that only definite factions of United States citizens can ever seem to comprehend fully. Because of this predicament, current high-school curricula in the majority of states now require the completion of a personal finance course prior to graduation. This initiative by the government invites healthy thinking and practical, real-world issues into the classroom. These kinds of training-tools are important because the lack of budgetary management can often lead to unfortunate personal circumstances.
There are many financial pitfalls people become victims of when there is no budget in the household. Gambling-debt is one of these concerns. Even though a one dollar lottery ticket may seem harmless, many people throughout the world accumulate a momentous amount of gambling debt every year. California is home to one million people who are addicted to gambling. To try and reduce this mess, the government has provided a self-ban arrangement with every casino in the state (Trujillo). Unfortunately the rise in demand for gambling by addicts has prompted people to create websites that allow for around the clock access to any casino game of the player's choosing. This, combined with easily available bank-lending, can certainly allow for someone's gambling debt to sky-rocket out of control rapidly.