:::: MENU ::::

Browsing posts in: :)
Jan 3, 2020    |       2 comments

There is Nothing More Motivating

by

There is nothing more motivating then being told you have done a good job. As I have looked back at how much my business and resulting income have grown this year, it’s because I have done a good job for my clients.

I’ve shown up every day. I’ve done what I said I was going to do. And I’ve done it well.

As a result, many have hired me for additional projects or referred new clients to me. I am so grateful for that! And it has made a huge difference for me, my finances and my family.

Continuing My Efforts

For this year, I am committed to keeping up this growth and expanding my marketing efforts. But I’m also committed to helping others get to a place like this, where they are satisfied and thriving. For the holidays, I gave away strategy sessions. My soul purpose was to give back. To give others the same “hand up” as others have given me.

It was amazing. I had the privilege of deep diving into virtual strangers’ lives and businesses. There is something about the anonymity of the internet and a phone call that helps people be more honest, more open about their goals, their struggles, I think.

I didn’t do a sales pitch. I didn’t add them to my mailing list. I just simply listened and shared some tips based on my experience. And I’ve already gotten messages from people sharing just how much our 1 hour or less conversation meant to them and how it altered their way of thinking about their business and their personals goals for it.

What’s your point, Hope?

I know that’s what you are saying. So here it is…it’s been rough here on the BAD blog for me. I know you know that. I have definitely grown thicker skin. I’m hard headed and don’t always listen…sometimes for a long time and sometimes not at all. But the fact of the matter, that the strangers on the BAD comments have been so helpful to me. So thank you for sharing your expertise, your life experience with me. Every week, day in and day out.

I may REALLY SUCK at personal finance and getting out of debt and making too many guilt ridden, emotional financial decisions…but I am working on it. And my eyes are wide open.

But I am REALLY GOOD at what I do. I am an excellent business strategist, I know tons and tons about business technology and integrations, I have worked for years with clients to market their products and grow a warm target audience. There is virtually no industry I have not consulted with over the last almost 12 years in business.

So I wanted to offer something back to you…and please don’t bash this. If it’s not something you would find useful, that’s okay. But if you are an entrepreneur or a mompreneur or a want to be side hustler, I would like to offer you a free strategy session. No obligation, no sale. Just a virtual coffee date…maybe you will learn something, maybe you won’t. But it’s on the table, click below if you would like to set up a time to chat…

Jan 2, 2020    |       4 comments

How Gambling Problems Lead to Deep Debt

by

When we get together with my in-laws for the holidays, my husband likes to bring his poker chips to play with his brother—never for money, always for bragging rights. My mother-in-law doesn’t like it, and I never understood why. It’s just some harmless gambling, right?

Then I learned that throughout her childhood, her dad—a charming, kind, funny man we all loved—hid a gambling addiction from his children. His gambling problem affected their finances, his health, and her parents’ marriage. My mother-in-law didn’t learn about it until she was an adult, and now, understandably, gambling is no joke to her.

With our own debt on my mind, I’ve been thinking about how some gambling leads to debt. The Economist reported that gamblers in the U.S. lost $116.9 billion in 2016, mostly in casinos and lotteries. According to Debt.org, as many as 23 million Americans go into debt because of gambling, and the average loss is estimated to be around $55,000! The average debt generated by a man addicted to gambling is between $55,000 and $90,000, and women gamblers average $15,000.

Gambling is even more accessible today than when my husband’s grandpa was struggling in the ‘60s and ‘70s. Electronic gambling is growing and some form of gaming is legal in 48 states. It’s possible to be a casual gambler, of course. But the National Council on Problem Gambling states that 2 million U.S. adults are estimated to meet criteria for pathological gambling.

The APA defines gambling disorder as “repeated problematic gambling behavior that causes significant problems or distress.” These are people with addictive symptoms as real as those of an alcoholic or drug addict, and their emotional struggles have scary financial consequences.

So How Can Gambling Lead to Debt?

Borrowing to Keep Gambling

A compulsive gambler will go to extremes to keep playing. They’ll take great financial risks like taking money from savings accounts, investment accounts, or retirement funds. According to Debt.com, 90% of those suffering from gambling addiction withdraw cash advances from their personal credit card accounts in order to gamble. They’ll also borrow money from family and friends, justifying it by thinking they’ll win it all back. When that money is all gone, they can be left with literally no way to pay back their loans.

Taking Time Off Work to Gamble

Addicts can also miss work to gamble for reasons like hoping they can win lost money back or just needing the numbing feeling of the game. Missing work can mean lost wages and eventually a lost job, compounding their debt problem.

Betting Larger Amounts to Overcome Gambling Losses

For a gambling addict, greater losses breed a need to bet larger amounts and to take greater risks to get their money back. But even a large win will just encourage a compulsive gambler to take a bigger risk again, often leading to another significant loss. With all these losses, it’s no surprise an addictive gambler is stuck with debts they cannot pay.

How Gambling Problems Lead to Deep Debt

The Gambling Industry Wants People to Lose

Gambling is a for-profit business for both private enterprises and state governments, and they don’t care if you go into debt. Casinos make a profit when gamblers lose money, and according to a shocking 2016 article in the Atlantic, “The business plan for casinos is not based on the occasional gambler. The business plan for casinos is based on the addicted gambler.” They lure in addicts with freebies and gifts, encourage them to stay longer, and offer casino credit to gamblers even when they’ve run out of money. It’s cruel. The more these addicts gamble and lose, the more the casinos win.

Billionaire and businessman Warren Buffet is a vocal critic of gambling. He hates to see the government collect on its citizens’ poor choices: “I’m not a prude about it, but to quite an extent, gambling is a tax on ignorance. You just put it in and guys like me don’t pay the taxes—it relieves taxes on those who don’t gamble. I find it socially revolting when a government preys on its citizens rather than serving them. A government shouldn’t make it easy for people to take their social security checks and [waste them pulling] a handle.”

 

If compulsive gambling is affecting your debt journey, contact Gamblers Anonymous or a similar organization. My husband’s grandpa was able to face his problem and rebuild his life. So can you.

1 … 520 521 522 523 524 … 2,030