Adult ADD and Money

3rd Year Blogoversary

I find it very scary and frightening that today is Adult ADD and Money 3rd Anniversary. It means that I have been truly blessed with great readers, guest authors, and a wonderful wife who has supported this blog. I would like to thank you all for taking time out of your day to read this blog and I hope that I have helped some of you on your journey to financial freedom.

I would like to share with you the first article I wrote in this blog.

Shopping Lists

Before you go out shopping write down everything that you want on a list. (Stick to the list) It will help to limit impulse buys. I was tired today and forgot to write down a list and I purchased cookies that I did not need to buy. Almost all stores are set up to take advantage on shoppers who are impulse buyers (One of the main traits of adults with ADD). I think setting up a list is more important when you are planning on going shopping at large department or warehouse stores, there are many times that my wife and I have gone to the store with the intent of only purchasing a few items, but left with a cart full of items that we did not need. (We seemed to always forget one of the items that we went there for in the first place)

Before you go out shopping write down everything that you want on a list. (Stick to the list) It will help to limit impulse buys. I was tired today and forgot to write down a list and I purchased cookies that I did not need to buy. Almost all stores are set up to take advantage on shoppers who are impulse buyers (One of the main traits of adults with ADD). I think setting up a list is more important when you are planning on going shopping at large department or warehouse stores, there are many times that my wife and I have gone to the store with the intent of only purchasing a few items, but left with a cart full of items that we did not need. (We seemed to always forget one of the items that we went there for in the first place)

Overlooking the Obvious

Everyday on my way to and from work I pass by a new Market and Deli that I think about going into. They have done an excellent job at advertising, with billboards and an electronic sign that gets your attention. When I look at the lunch and takeout menu they have diverse items that I think that I would enjoy, there is just one big glaring problem. The deli is on a really narrow dirt road where you can not even see the building from the main road. I am sure that many other people like me, have thought about trying the new deli and end up changing their mind when faced with this one annoying obstacle.

Sometimes when making money management decisions ADD adults get so caught up in dealing with  small, more stimulating decisions that they overlook the most obvious reasons why they are struggling financially. I am not saying that projects like improving your credit score, reducing your grocery bill, reducing your total energy use, or perfecting your investment portfolio are not worthwhile endeavors. But the fact is that if you want true financial change in your life you have to deal with the tough main issues that are holding you back. For some people it is finding meaningful work that they enjoy, for others it is dealing with the emotional issues that cause overspending, or it can be developing and executing the systems to help pay and manage bills.

I believe that if the Market & Deli wants to have long term success, it is going to have to do something about improving how people can access it. This is not a simple or easy decision, it could mean moving the deli to a place where it can been seen, or it may mean widening and improving the road so that it is more inviting. The more challenging and difficult a task is the more likely you will receive a greater benefit from dealing with it. Often people want easy ways to deal with their problems and most of the time they get frustrated when the truth is that most challenges you deal with in life are not easy. 

Carnival of Personal Finance # 150

The Carnival of Personal Finance edition # 150 is now up at Lazy Man and Money. It includes my post My love/hate (mostly hate) relationship with Money.

7 Strategies To Fund ADD/LD Treatment (ADDitude Magazine)

Here is a short excerpt from an outstanding article from ADDitude Magazine titled "7 Strategies To Fund ADD/LD Treatment". I stumbled upon this article while reading the ADHD & LD Resource Blog. 

There are ways to reduce the financial burden brought on by ADHD. But often, families lose out because they are unaware of tax breaks and assistance programs or run up against problems with their insurance plan. If this happens to you, though, Peter Jensen, M.D., author of Making the System Work for Your Child with ADHD insists, "Don't take this sitting down. ADHD is every bit a biomedical problem as strep throat."

READ MORE >>

My love/hate (mostly hate) relationship with Money

Diane Ladd challenged her readers to write about their love affair with money. (For more information see previous post) I have got to admit that this is a difficult assignment for me. I think this is because even though I work in the Financial industry and my blog is titled Adult ADD and Money, I really have come to loathe money is general. I don't really loathe the concept of money, I loathe the damage that having money or lacking money can cause to a person.

Growing up I viewed money as the great divider. The social groups that you were in mostly depended on your perceived social status. Money bought you the clothes so that you would fit in in school, it determined your social calendar, and bought you the toys you could brag about. Sometimes the scorn of kids who had more money than me was so thick you could cut it with a knife. You could feel their attitude of superiority, and it hurt.

I deserve a lot of the blame for my relationship with money. When I have had a little extra I would always find someway to spend it all that gave me a temporary high. I tried to ignore money when I was lacking it, but that never solved my problems, money is a cruel lover and was always seeking revenge when I was neglectful. I don't always appreciate what money has done for me and I feel I am not always putting enough into the relationship to keep it stable in the future.

However my relationship with money is continuing to improve. Once I discovered that money was not responsible for my happiness, that I was the only person or thing who was in charge of my happiness. I have been less judgmental of the relationship that I and others have with money, I have been more accepting of money's faults, and I continue to notice more of money's strengths. There just might be hope for us yet.

Guest Author - My Love Affair With Money

By: Diane Ladd (Reprinted with permission from ADD to LIFE)

We all struggle with budgeting and spending too much but is seems that those of us with ADD have more difficulty than most. The ADD symptoms of impulsivity, trouble with planning, lack of inhibition, disorganization, forgetfulness, and the tendancy toward addictions (like shopping too much) make budgeting painful.

Working with an ADHD Coach can help you put your money issues into perspective. By developing a partnership with an ADHD Coach you can develop structures that work for you and work through the process of  managing your money.

A few years ago I was given an assignment by my coach. She challenged me to write a story about my relationship with money. She suggested that I tell the story about money as my lover.

From time to time I have gone back to this assignment. As my feelings, beliefs and attitudes have changed the story has evolved.

I've included my assignment here for you to read and I challenge you to write about your own love affair money.

READ MORE >>

We all struggle with budgeting and spending too much but is seems that those of us with ADD have more difficulty than most. The ADD symptoms of impulsivity, trouble with planning, lack of inhibition, disorganization, forgetfulness, and the tendancy toward addictions (like shopping too much) make budgeting painful.

Working with an ADHD Coach can help you put your money issues into perspective. By developing a partnership with an ADHD Coach you can develop structures that work for you and work through the process of  managing your money.

A few years ago I was given an assignment by my coach. She challenged me to write a story about my relationship with money. She suggested that I tell the story about money as my lover.

From time to time I have gone back to this assignment. As my feelings, beliefs and attitudes have changed the story has evolved.

I've included my assignment here for you to read and I challenge you to write about your own love affair money.

READ MORE >>

Why did I start this blog?

Recently my wife asked me why I decided to start the blog Adult ADD and Money. The truth is that I found this question a bit challenging, it frustrated me that I did not have a quick answer as to why I started this blog. I think what inspired me to start this blog was talking to people with ADD who were discouraged because they had issues with money management. Their poor money management issues not only affected their finances, it also affected their emotional well being. 

The reason why I started the blog is because I wanted to help ADD adults by offering tips and strategies to deal with the additional challenges that ADD adults face with managing money. The main lessons that I want to share with my readers are:

Money management and life skills go hand in hand, and working on improving life skills will help you with managing your money

Everyone makes poor money management decisions from time to time, nobody makes perfect money management decisions, the key is the ability to learn from your mistakes.

You can only control your current decisions with managing money, forgive yourself for past decisions and focus on what you can do today.