I am so unbelievably bad with money, help

Alright, just want to say I come from a relatively rich family and money has never been a problem for me; I'm 18 years old and never had a job, however, from doing my own personal business, reselling clothes for profits, selling online gold or whatever I've never seen more than £600-1000 in my account, I don't actively try to make money necessarily but whenever I do make money it just sits there, and then I just get bored and all the things I previously wanted before I didn't have my own money now doesn't have the same ring to it and I just gamble it away or spend it on stupid things like buying my family domino's at £50 a go or buying other people shit.

In regards to gambling, I wouldn't consider myself an addict but I have been absolutely reckless, I don't do casino but I'm so bad for chasing losses, I think I know what I'm doing and bet big on football, basketball and whatever, I'm down around £3000-6000 which is a substantial amount of money considering that's money I've acquired online one way or another, I started when I was 17 (yikes) and then realised how stupid I was and quit for at least 5-6 months not even considering gambling ever again. Then I started making money online again and had absolutely no incentive to do anything with the money so ended up gambling on football again, I lost so much chasing losses and it's so frustrating, I don't think I'm addicted as such because I'll never touch a casino / money sink games, but I can't help but think I can one up the bookies when I see odds I perceive amazing for set result, winnings just end up being losses and then the chase starts.

So I've banned myself off all bookies, but can't help but think whenever I make money I just don't know what to do with it, where it should go, when I get it I just have to spend it, I hope to God when I start working and maturing I fix this mindset and I really hope that's the problem, I detest just getting urges to spend it all whether it be on a binge shopping trip or gambling. What should I do?

 

Buddy, start investing in cryptocurrency.. and wait till 2020...

I have the same problem, I would even cash out my investments to gamble at times, Simply make your money unreachable.

or at least, unreachable within a 24 hours period...

this is what i do and it works kinda fine

 

Write down an income/expenditure budget and stick to it.

https://www.stepchange.org/Portals/0/img/debt-info/income-and-expenditure-form-example.pdf

 

This.

You were born in wealth, therefore your vision of money has been falsified. I can guarantee you that once you get yourself your first job, you will understand the true value of money.

It's not your fault though. You didn't ask to be raised in such wealth. Sure it's fun when you're young and everything is easy to access but I personally believe this will not be good for you in your adult life and you have to change this lifestyle.

Get yourself a typical first time job and the most important thing, don't quit it the week after. Stick to this lifestyle for a few months, make yourself a budget if you're really in the need of one and most importantly, before you spend money on something, always ask yourself if you really need this in your life. Don't think about the present moment, think about the future.

Good luck with everything and keep us updated man.

 

I also agree with that. Once you live the life of working 40+ hour week days just to pay your rent you will understand. For now you are 18 years old and have had 1k in your bank account? Thats pretty damn good my dude. You are still young, You are doing good for selling clothes etc. Most 18 year olds are still bothering mom and dad for money to go out drinking on weekends.