Do you forget to pay your bills? Does there always seem to be a shortage of money at the end of the month? Are you swimming in credit card debt? If you have ADD, chances are that you can answer, "Yes," to at least one of these questions. But it doesn't have to be that way. Here are a few tips for keeping your money matters ADD-friendly:
Create a Bill-Paying System
The first thing you'll need to do is to go out and pick up some colored hanging folders. If you don't have a file cabinet, get a file box that you can find in any stationery store or discount department store. They're very inexpensive. Then, make a folder for each expense. Use one color for your bank statements, another for your utility bills, and another for credit cards. Keep the system pretty simple or complexity could let another ADD trait---procrastination---take over.
Every day, when you bring your mail home, don't throw it on a counter somewhere and let it pile up. Sort it right away. Even stand over the trash can while you're doing it. Toss the things you don't want or need, and keep the rest in your hand. Then, pay any bills that you get immediately, write the date you paid them on the front, and file them into one of your hanging folders in the file box. If you can't pay it right away, have a special "bill" place, like the front of a desk drawer, for instance. Put nothing else in the front of that drawer, except your bills. Then, when it comes time to pay the bills, you'll know exactly where to find them.
Online banking is quite convenient for someone with ADD because it's so much easier to click a mouse than it is to write checks, address envelopes, and then, to have enough stamps to cover all of the bills you want to send out. This could cause a whole new round of procrastination. So, instead, create an online banking account. As you get a bill, fill in the information for the payee--the address, phone number, your account number, etc. Then, when it's time to pay bills, it will take you 10 minutes, instead of an hour. This is not just a great way to pay bills, it's a time saver, too.
As you pay each bill, put it into the file folders in your cabinet or box. That way, if any questions arise, or if you're just waiting for tax time, everything will be there waiting for you.
Stop Impulse Spending
Go out today and buy some hanging file folders, make sure they're colored. Get a file box, too, if you don't have a filing cabinet. You can buy them quite inexpensively, probably in the same aisle. Then, go home and make a folder for each class of your expenses, like utilities, credit cards, medical payments, etc., and keep it pretty simple. Otherwise, if you break it down into each credit card, rather than just one file for credit cards, you may run into another pesky ADD trait---procrastination. Anything looking too complicate might cause this response.
And don't carry a pile of cash or a debit card. Find a bank that offers free checking and open a separate account for yourself. Each month around payday or whenever you get paid, give yourself an allowance that has to last until your next payday. If you run out of money, you don't get any more to spend until the next pay check arrives. After you run out of money a time or two, you might be less likely to indulge yourself with unneeded purchases.
Avoid these impulse spending habits by waiting to buy something. Just walk the other way and wait a day before you actually shell out the cash. This time interlude will allow you to see the difference between what you really need and what you just want. Wants aren't important. Needs are what you should concentrate your spending on.
Be Your First Bill
You should also have a savings account, one that you never touch for any reason, and put at least 10% of every paycheck into that account. That way, when you need money for a house, or money for a car down payment, or whatever, it will be there. This account is only for very big, very important items. But no matter how much you make, always pay yourself first.
These tips are great for people with or without ADD. Put at least one of them into practice and see how well it works for you. We guarantee that you'll be back to try another.
Sustainable Living Articles @ http://www.articlegarden.com
About Tellman Knudson:
Tellman Knudson, CEO of Overcome Everything, Inc., is a certified hypnotherapist and NLP practitioner, who has coached many ADD clients to greater happiness. Learn more of his practical solutions to ADD issues at Instant ADD Success.com (
www.instantaddsuccess.com/ )
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