Problems with money — ADD Tip o the Day 331

One big problem with money is not having enough, but we with ADD or ADHD also often have problems with what we do with what we have.   After all, we are impulsive.  If it’s a big enough problem for you to be willing to work on it, here are some strategies, some of which you may not find appealing:

#1.  get rid of all your credit cards.  but– but—-  but—–

make a shopping list before you go to the store and don’t let yourself buy anything that is not on the list, even if it’s on sale and a great buy and you’ve always wanted one.

have a certain amount set aside from each pay check before you get it.  Have it go into a savings account which you can only access on the signature and agreement of your partner/friend.

have two checking accounts, bills and other.  Your check goes into the bills account.  Pay all the bills first before you put any money into your second account.

for one month write down every penny you spend; then sit down and look at where your money is really going.

and many many more.  They all need you to really be serious about doing something about the problem or you won’t do them.

I, personally, am not good with money.

doug  ADD,ADHD,adult ADD,adult ADHD,deficit,disorder

from AARP on ‘bad spending habits’  -won’t clik, you can google it.   arggghh!

impulse spending clik here

budget clik here

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About doug with ADHD

I am a psychiatric physician. I learned I have ADHD at age 64, and then wrote two ADHD books for adults, focusing on strategies for making your life better. Your Life Can Be Better; strategies for adults with ADD/ADHD available at amazon.com, or smashwords.com (for e books) Living Daily With Adult ADD or ADHD: 365 Tips O the Day ( e-book). This is one tip at a time, one page at a time, at your own pace. It's meant to last a year. As a child, I was a bully. Then there was a transformation. Now I am committed to helping people instead abusing them. The Bully was published in January, 2016. It's in print or e book, on Amazon.
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6 Responses to Problems with money — ADD Tip o the Day 331

  1. chibiPanda says:

    Hmmm… For me, I just use an app that gives me a certain budget per month, and no matter what (unless it’s a medical emergency or something along that line), I am not going to go over. So, if I end up with $10 left in the middle of the month, well, let’s just hope it’s not going to happen anymore. Ramen don’t taste good if eaten for an extended period of time 😦

    Like

  2. Lisa says:

    Thanks for the ideas! I’m also terrible with money…as was my ex-husband. After we separated, I started working through my money issues with my dad, a retired accountant. He tried having me write down every penny I spent, including cash…that was extremely difficult for me, but it did show me some major “leaks” that I’ve had to fix. Now I keep better track of my debit card usage, and my overdrafts have gone from 5-10 per month (YIKES!) to almost none. We’ve also worked on paying bills FIRST when I get paid, so now instead of paying my utilities when they threaten to shut them off (or when they DO shut them off!), I’m able to get them paid when they’re due or even a few days before. I’m still working on the impulse spending, but at least if I pay my bills first, I won’t be in such bad shape! I’m glad to know that I’m not the only intelligent person who understands money concepts from a logical standpoint but still struggles with putting them into practice…it really makes me feel stupid sometimes!

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    • lisa
      it sounds like you’re making real progress. congratulations, it’s not easy to do. one more suggestion – eliminate the word “stupid” from your vocabulary. your know these problems have nothing to do with ‘stupid”, they’re just part of ADD. my wife and i did the every penny recording for one month, and it was tremendously helpful (and yes, very hard to do). i recommend trying to set things up as automatic as much as possible, so we don’t have to use so much willpower or make so many decisions, that’s why i suggest the two checking accounts, and the pay check automatically goes into the bills account.
      thank you for this great comment
      good luck
      doug

      Like

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