085 How to Squash Your Gambling Addiction and Get Out of Debt - Beau Humphreys, Personal Finance Coach

Former gambler turned personal finance coach Beau Humphreys shares his story from drowning debt to financial free. Long description: It was a random weeknight when I went to the Wealthsimple headquarters in downtown Toronto for their 3rd anniversary party. I was told there would be a donut wall, and I was not disappointed. Aside from the free donuts and drinks, I got to meet Beau Humphreys. I thought I knew all the Toronto personal finance bloggers, so it was a treat to meet Beau and hear his story at the party. Immediately I knew he had to be on my show. This episode is very different from any of my episodes, because it deals with a topic that I think most people wouldn't be as brave to openly discuss. Luckily Beau was happy to share his story of getting addicted to gambling at the young age of 11. There's a slogan by the BC Lottery (where I'm from) that's always stuck in my head: "Know your limit. Play within it." Good advice for sure, but let's get real here. Most people who frequent casinos or the race track on a regular basis know their limit, but are incapable of playing within it. Gambling is as serious an addition as alcoholism or drug addiction. And I think it's incredibly important for anyone dealing with something like this to recognize this and find the help they need. That's exactly what Beau did. He got professional help and it changed his life. He found out that his addiction stemmed from him having undiagnosed ADD. With that knowledge, he was able to turn his life around. And now look at him! He's travelling to Kenya for vacation and teaching others how they can get over whatever obstacle to achieve financial freedom. It's a happy coincidence I'm releasing this episode on Bell Let's Talk Day, which is all about talking openly about mental health. And for that reason I'm going to include some helpful links anyone is looking for someone to talk to. Helpful Resources Ontario Problem Gambling Helpline (Canada) Find a Treatment Centre in Your Province (Canada) National Council on Problem Gambling (USA) Quotes to Live By Money problems usually having nothing to do with money. They're about something else in your life that you need to work on [...] Somebody giving you a bunch of money or you making more money isn't going to fix those things. Money can't buy you happiness, money can't fix your problems. You're problems probably have nothing to do with the fact that you have debt. You have debt because you have problems. Episodes You'll Want to Listen to After This Episode 49: Everything You Need to Know About Bankruptcy with Doug Hoyes Episode 64: Finding Your Roadmap to Financial Wellness with Jason Vitug Check Out Some of Beau's Best Blog Posts Why Are You Saving Your Money? My Journey with Wealthsimple Deferred Sales Charges Kicked Me Where It Hurts Follow Beau Humphreys Follow Beau on Twitter Like Beau on Facebook For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/85 Learn more about your ad choices. Visit megaphone.fm/adchoices