Transferring control of money to loved ones: a reliable way to stop the game

Introduction

The vicious cycle of online betting is easier to break if you are physically deprived of access to your money. Transferring financial powers to a loved one is an effective method of creating an external barrier. The main thing is to do everything officially, without loopholes, and choose someone who is sincerely interested in your recovery.

1. Why hand over control of money

Complete exclusion of access: you will not be able to seductively replenish your account or transfer funds to betting platforms.
Objective supervision: the trustee records all attempts at unauthorized spending and notifies you of the risk of disruption.
Reducing stress: you do not need to constantly monitor the cards and balance - the control is "out."

2. Trustee selection

1. Reliability criteria:

Absolute honesty and willingness to give up pressure.
Financial literacy or experience in budget accounting.

2. Proximity level:

The best option is a spouse, parent, older child or close friend who is ready to bear responsibility.

3. Role discussion:

Clearly discuss expectations: who is responsible for what, in what cases he intervenes.

3. Execution of the agreement

1. Written contract:

List the powers: control transfers, setting limits, blocking cards.
Specify a fixed time frame (for example, a year) or until your request to remove control.

2. Legal force:

If necessary, assure the notary that the bank and payment systems will execute orders without questions.

3. Ethical rules:

Include a clause about privacy of personal data and that money can only be spent on your agreed needs.

4. Practical transmission mechanisms

1. Joint bank account:

Transfer the bulk of the funds to an account that only the trustee has access to.
Leave on your personal account "pocket" 50-100 AUD for small expenses (food, transport), but without the ability to replenish other accounts.

2. Blocking cards and payment methods:

The trustee applies to the bank to block debit and credit cards.
Instead, a new card is issued with a limited limit - it is issued to you only if you need basic spending.

3. Cash Management:

Define a fixed amount of cash per week: the trustee gives it to you against receipt.

5. Monitoring and reporting

1. Regular reports:

The trustee provides you with a statement of expenses and balances on a weekly basis, discusses deviations from the budget.

2. Alarms:

Any attempt to gain access to blocked funds is recorded and discussed immediately - this is a signal to adjust the plan.

3. Collaborative Planning:

Every month - a meeting or call to revise the budget, assess expenses and set new limits.

6. Removal of control and transfer of authority back

1. Release condition:

Specify specific criteria in advance: for example, 90 days without attempts to break, successful fulfillment of financial goals and proxy reports.

2. Step-by-step access return:

First, a partial increase in "pocket" funds, then - unlocking cards and, finally, transferring control back completely.

3. Gradual degradation of measures:

Smooth reduction of external supervision, while maintaining limits and mandatory reports for another 1-2 months.

Conclusion