During the yearlong journey of financial recovery that followed my struggle with problem gambling, I learned the importance of core values, particularly accountability, intentionality, and consistency. These lessons shaped my own recovery and continue to guide me as a financial counselor, where I help others on their paths to financial stability. While there’s no one-size-fits-all approach, these core values are essential for anyone looking to reach and improve their financial well-being.

Join me as l explain why these core values are more crucial than trying to “repeat” someone else’s financial recovery journey. And how focusing on these core values can guide you through your journey.

But first, let’s take a quick trip down memory lane.

Addiction Spiral and Redemption

In 2011, at the age of 25, my fascination with roulette spiraled into addiction. After months of winning, my luck ran out, and I stumbled into the vicious cycle of chasing losses. Unable to break free, I eventually lost both my winnings and nearly all of my savings.

Determined to repair the financial damage, I committed to making better decisions. Ones that would help me break free from problem gambling and build a healthier relationship with money.

The following year was a journey of hard-earned redemption. I focused my energy into earning more money and practicing self-discipline to reduce my spending. My efforts paid off; in 10 months, I not only recovered my losses but also managed to save twice as much.

Is My Financial Recovery Repeatable?

I’ve often shared the lessons I’ve learned from my financial recovery. But it wasn’t until a recent  interview with Rob ODAAT that someone asked me for the first time if my journey was “repeatable.”

Although the question might seem like a simple yes or no, the reality is a bit more nuanced. My road to recovery involved working three jobs, aggressively cutting unnecessary expenses, and saving every dollar I could.

That’s my story and it’s the path that worked for me. However, I never “suggest” this exact path because your life circumstances are different from mine at 25.

• Early in my career, while I was single, I juggled three jobs, using my “spare time” to work all hours of the day.
• With just myself to take care of, I drastically cut spending on needs like utilities and groceries. I even canceled my home internet, but this was when it wasn’t yet considered essential for everyday life.
• Anything that wasn’t essential, like going out or enjoying “guilty pleasures,” was almost entirely eliminated.

These were decisions I could make for my life at that time.

Focus on Core Values

Your life may be similar or completely different. The point is, it doesn’t matter. The details of my path matter less than the underlying values of accountability, intentionality and consistency.

Accountability: Once I stopped beating myself up over “the mess I created,” I owned my decisions and took action. The mindset you choose significantly influences your success.

Intentionality: I became extremely intentional about improving my finances and wrote out the steps needed to save more money. In other words, I made a plan.

Consistency: An income plan and budget only work if you stay committed to it, both on the easy and hard days. And there will be many hard days. But you have to keep returning to it.

These core values helped me save $20,000 at 25, accumulate $200,000 by 30, and hit a net worth of $600,000 at 36. These are the same values I continue to live by as a (recently turned) 38 year old.

Final Thoughts

So, is my journey repeatable? Maybe not the specifics, but the values are. And it’s the values that matter the most.

By the way, you can watch my chat with Rob ODAAT, to include a mock role play of the financial counseling services I provide through GamFin.

Keep pressing!
-Ambus

I originally wrote this for my monthly-ish email newsletter, Mindful in Money. I don’t always get around to publishing blog posts like the one you just read, so if you want regular musings from me, sign up for my newsletter! No spam, no nonsense, just my occasional thoughts on money, overcoming challenges, and the power of consistency.