If I Can’t Balance My Checkbook, How Can I Help You Balance Yours?

1. If I Can’t Balance My Checkbook, How Can I Help You Balance Yours? Jerry Bauerkemper, BS,CCGC Executive Director Nebraska Council on Compulsive Gambling Email: Exnccgjb@aol.com

2. About the Presenter Jerry Bauerkemper, BS, CCGC Executive Director of the Nebraska Council on Compulsive Gambling Jerry Bauerkemper, BS, CCGC is the Executive Director of the Nebraska Council on Compulsive Gambling Mr. Bauerkemper was the first director of problem gambling for the state of Nebraska. He is an internationally recognized trainer on Problem Gambling. He received the First Step award for his work with Gamblers.

3. GAMBLE: To play for money; to risk, especially by financial speculation; to lose or squander in speculative ventures; a risking undertaking, a reckless speculation. -Webster’s Dictionary

4. You Just Won the LotteryTake several minutes and write down what you would do with Lottery winningsRecovering gamblers skip this assignment

5. How did you feel doing the assignment” • Did you have pleasant thoughts? • Did you get excited? • Did you have negative anxious thoughts? • Welcome to the world of the gambler!

6. If I Can’t Balance My Checkbook, How Can I Help You Balance Yours? Money vs Action -Gamblers Never Lose -Time + Money = Opportunity to Gamble

7. What’s money got to do with it? EVERYTHING

8. The reason we should talk about money. • 73% of Americans report that money issues are their #1 stressor ahead of work, physical health, and children. • American Psychological Association Survey, March 31, 2004

9. Results from Gambler’s Focus Groups • Gamblers wanted to talk about money the first session • Gamblers and family members were very concerned about referrals/support group confidentiality • Counselors need an understanding and a willingness to work on debt

10. A Brief Money Exercise • 1. People with money are… • 2. When I have money, I usually… • 3. My Dad thought money was… • 4. My Mom thought money was… • 5. If I could afford it, I would…. • 6. Money makes people… • 7. To have more money, I need to…. • 8. In my family, money always caused…

11. A Brief Money Exercise • 9. If I had more money, I’m afraid I would… • 10. Money is… What else do you know about money as a result of the life you have lived so far? --Open for discussion www.1800betsoff.org Tool Chest Brian H. Farr, LPC

12. What does money mean to the problem gambler and/or family member? Have the client define: Money Values Beliefs

13. DSM V How many of the criteria have to do with money and finances?

14. Diagnostic Criteria DSM V • Persistent and Recurrent Maladaptive Gambling 1. Preoccupied with gambling-past experiences, handicapping, planning next venture, planning ways to get money to gamble. 2. Needs to gamble withincreasing amounts of money in order to achieve desired excitement. 3. Has repeated unsuccessful efforts to control, cut back or stop gambling. 4. Is restless or irritable when trying to cut down or stop gambling. 5. Gambles as a way to escape problems or relieve dysphoric mood e.g., guilt, helplessness, anxiety, depression.

15. Diagnostic Criteria DSM V 6. After losing money returns to get even or “Chasing” one’s losses. 7. Lies to family, therapist or others to conceal the extent of involvement with gambling. 8. Jeopardized or lost a significant relationship, job, or educational or career opportunity because of gambling. 9. Relies on others to provide money to relieve a desperate financial situation caused by gambling(Bailout). B. Gambling is not better accounted for by a Manic Episode.

16. I don’t want to be a Financial Counselor • Majority of work done by client • Do this in steps not all at once • Homework is best • Spend 15-20 minutes per session for 5 weeks • Spend 5 minutes per week after the budget made • Family recovery based on family buy in

17. I don’t want to be a Financial Counselor • Week 1: send home Assets and liabilities form • Week 2: send home snapshot form • Week 3: Send home budget planning form • Week 4: review budget plan • Week 5: Concentrate on bills you can help reduce or eliminate based on priorities

18. Step 1 • Divide a piece of notebook paper in half • Top half Write “Assets” Explain it as income sources • Bottom half write “Liabilities” Explain it as bills and who you owe Send this home with them to begin to identify who and what they owe

19. Step 2SNAPSHOT: Your Average Month • Date: ______________ • EXPENSES (Money Moving Out) EACH MONTH • Rent/Mortgage/Property Tax/Home Insurance $________________ • Home Repairs and Maintenance (Average) $________________ • Auto Payments and Auto Insurance $________________ • Groceries and Household Supplies (Average) $________________

20. SNAPSHOT: Your Average Month • Medical/Dental/Therapy/Prescriptions (Average) $________________ • Insurance Premiums (Medical, Disability, Life) $________________ • TOTAL MONTHLY EXPENSES $________________ Information provided by Brian H. Farr, MA, LPC, NCGC-II www.1800betsoff.orgwww.bhfarr.com

21. Step 3 Budget planning form • Expense Item • How Much • How Often • Monthly Amount

22. First Budget Planning form:clients write down expenses • Housing • Rent, mortgage • Insurance • Taxes • Electricity • Gas • Water • Sanitation

30. List of Creditors This sheet is to compile the list of bills that are not regular monthly expenses which would go on your Expense Sheet. Here, list all other “onetime” bills in the following order: 1) Bad checks or debts for which you may be prosecuted, 2) Court ordered judgments, 3) Credit Unions, 4) Bank or Finance Company loans, 5) Back Taxes, 6) Credit Cards, 7) Bookmakers and loan sharks, 8) Family and Friends, 9) Other

31. Step 4Review budget planning form • exnccgjb@aol.com • Email and ask for word documents of all following forms

32. Creating a Realistic Spending Plan • Write out a plan • List monthly sources of income • List extra sources of income • List basic monthly household expenses

33. Wages after taxes (Gambler) Tips/Commissions (Average each month) Pension/Retirement plan benefits Unemployment benefits Food stamps Trust fund Wages after taxes (Others) Investment income (dividends, interest, etc.) Social security Welfare payments Child support/alimony payments Other Spending Plan-Step 1Identify Income Sources www.1800betsoff.org Tool Chest http://www.fool.com/personal-finance/general/2007/08/28/budgeting-101.aspx Motley Fool website

34. Spending Plan-Step 2List Expenses Rent/mortgage payment, groceries (average), utilities (average), telephone, home maintenance/repair (average), savings, clothing (average), car payment, car insurance/gas/repairs (average), other transportation, life/medical insurance premiums (average), homeowners/renters insurance, medical bills (average), child care, gambler’s allowance, loans/credit card payments, taxes, entertainment (average), cable TV, meals out (average), sports activities/events (average), charitable contributions, gifts (average), cigarettes/alcohol (average), long distance telephone (average), travel/vacations (average), gambling debts (this guide will explain later why this should be a low priority), other Total Expenses $____________________

35. Determine the Amount of Debt and List Creditors • Car loans • Credit Cards • Home equity loans or second mortgages • Furniture loans • Department stores • Payday loans • Bank loans • Medical bills • Utility bills • Back taxes • Child support • Education loans

36. Spending Plan-Step 3Compare Income/Expenses • Total Income from Step 1 $___________ • Total Income from Step 2 $___________ • Subtract expenses from Income $__________

37. Spending Plan-Step 4Make Adjustments If there is not enough income to cover expenses, you have three choices: • Earn additional income, such as through a second job or a better paying job • Reduce expenses • Reduce expenses and boost income Income and expenses change over time. Review the spending plan every few months and make adjustments if necessary

38. Monthly Financial Report

39. Identifying Assets and Sources of Income Items missing from the house • Furniture • Appliances • Other valuables that could have been sold for cash • A check from an insurance company to pay for property damage (such as roof or car) • Ignoring financial obligations, such as quarterly estimated tax payments • Is there a chance the gambler may try to sell personal assets through an on-line auction?

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46. Budgeting Monies For Gambling Treatment The treatment of a gambling addiction can be difficult, time-consuming, and costly. Most medical insurance policies and managed care providers don’t pay for the treatment. Some health plan carriers pay for treatment only if the patient suffers from additional disorders such as alcoholism, drug addiction, or depression. Consequently, the gambler may need to pay for treatment out of his or her pocket and this must be factored into the budget. Gambling clients may ask you to reduce fees because of financial problems. Experts commonly recommend that therapists no reduce fees as this is seen as another form of bailout.

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