When I was 12 years old I was visiting my family in Hong Kong and my aunt wanted us to visit Macau, now a territory of mainland China. A bunch of us took this ferry that happened to have a casino on board. Back in the day, there was a point where you went on international waters, meaning that there was technically no legal gambling age.
I think you know where I’m going with this.
My aunt took out a whole stack of coins and my sister and I went to town. The staff didn’t stop us. We won enough money that day to buy ourselves nice outfits. There were pretty cool tracksuits — 80s style.
That was one and only gambling experience.
For Beau, his is an entirely different story altogether. He also started at a young age and became addicted to gambling when he was an adult — the debt he got into was what someone might take out for student loans. He felt like he had no choice but to file for bankruptcy so he could get some breathing room
He comes on the show to chat about why he used gambling as a coping mechanism for his undiagnosed ADD, why he felt like he had to file for bankruptcy, when his last relapse happened and how he doing since that time.
Stick around to the end where I’m going to distill some takeaways from our conversation, including questions to ask yourself when you find it hard to cope emotionally.
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What You Hear in This Episode:
- How much debt Beau got into at the lowest point in his gambling addiction
- Why Beau decided to file for bankruptcy
- How Beau found out the cause behind his desire to gamble as a coping mechanism
- Some of the ways Beau was able to deal with his ADD
Questions to Ponder:
- Do you really need debt counseling or file for bankruptcy?
- What are some ways your financial behavior is linked to mental wellness?
- Which is the better option: debt settlement or debt management?
*remember, let me know in the comments below your answers! If you’re a social media person, come find me on Instagram (@beyondthedollar) and send me a DM or comment on any one of my posts. I read every single one!
Resources:
- Debt Settlement vs. Debt Management Programs: What’s the Difference?
- BeauHumphreys.com
- The Personal Finance Show (here’s the episode I was on)
- National Foundation for Credit Counseling
- Talkspace
- BetterHelp
- The Ultimate Guide to Money Mindset Mastery
- Values Based Spending Guide
- Freelance Writing Kickstart – use code BTDLISTENER for 10% off course
- Season 3 episode 6 – How Our Mental Health Affects Our Finances
*Thanks to Donovan Dorrance for the awesome theme music
Being a badass with your money is as easy as asking yourself what you want.
Download our values-based spending guide and figure out how to revolutionize your financial decisions ASAP.
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