EP089 Beau Humphreys – Gambling Addict to Personal Finance Coach

Beau Humphreys, Personal Finance Coach, helps people get their personal finances on track. He is also the host of The Personal Finance Show, which shares personal finance stories. Since going through a consumer proposal 8 years ago, Beau has transformed his finances and is now a regular financial blogger and accountability coach for others that are struggling with their finances. Beau has a Bachelor’s Degree in Administrative and Commercial Studies from Western University and has worked as a Tour Finance Manager with Live Nation Global Touring.

 

Beau joins me today to share his story of dealing with a gambling addiction and how it lead to him becoming a personal finance coach. He reveals simple ways to manage your finances, from recognizing how much you earn to creating a simple financial plan. He highlights the importance of knowing where your money is being spent and stresses caution about using credit cards. He also shares how to get started with building savings and why jumping into investing does not need to be your first step.

 

“Introspection and self-awareness are the keys to everything.” – Beau Humphreys

This Week on Young Money:

 

• Beau’s previous addiction to gambling and working his way out of debt.
• His podcast and role as a personal finance and accountability coach.
• How to organize and simplify your personal finances.
• Why it is vital to track everything when planning your finances.
• Figuring out where your money is going.
• Why you should avoid using credit cards if you don’t have that money in the bank.
• How to avoid high fees from eroding your returns when investing.

 

Key takeaways:

 

1. Start  slow and start with the basics.
2. You don’t have to jump into investing; you can start by building savings.
3. If you don’t understand something, talk about it and ask questions. 

 

Resources Mentioned:

 

• EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes

 

Connect with Beau Humphreys:

 

• Beau Humphreys Personal Finance Coach
• Invest Wisely
• Financial Accounting
• The Personal Finance Show
• Beau Humphreys on Facebook
• Beau Humphreys on Twitter
• Beau Humphreys on LinkedIn
• Beau Humphreys on Instagram

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