Gambling: Impact on Work, Family, and Family Finances. Tahira K. Hira, Ph.D., CFP, Professor, HDFS Iowa State University. Back ground. According to Volberg studies (1995, 1989) since 1989 there has been a significant and substantial increase in the prevalence of problem gambling in Iowa.
Gambling: Impact on Work, Family, and Family Finances
Tahira K. Hira, Ph.D., CFP,
Iowa State University
1086 participants of CCS Des Moines educational sessions
Six members of gambling anonymous group in Des Moines
*1 = $1-1000; 2 = $1001-5000; 3 = $5001-9000; 4 = $9,001-15,000;
5 = $15,001 - 25,000; 6 = $25,001 or more
% Mean DebtMax. Debt
Gamblers 7 $11,526$55,000
How does it start?
Gambling and Finances
“I generally didn't walk into Prairie Meadows with less than $3,000...
I would cash advance my credit cards, it was costing me $95 to get $3,000.”
I took out $1,000 from my life insurance policy, and
borrowed $6,000 from my two sisters.”
Impact of Gambling on Family Life
“When I quit gambling, I had so much time on my hands.....