Women With ADHD ADD

For Women with ADHD ADD Who Want to Connect

ADD women and Money

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ADD women and Money

Challenges and solutions that work

Members: 168
Latest Activity: Apr 7

Discussion Forum

this is the part i really hate

Started by Dana. Last reply by Amo Dec 11, 2012. 4 Replies

New (?) banking tool

Started by RacingWithADHD. Last reply by Liz Jul 30, 2011. 3 Replies

Purging Paperwork ~ What to Keep, What to Toss

Started by Jo Ellen. Last reply by Stephanie Apicella Mar 25, 2011. 1 Reply

Comment Wall

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Comment by saninbham on February 24, 2014 at 9:37pm
I struggle with finances as well. What has helped me has been the App Mint. It helps track my spending and sends me reminders when bills are due. Online banking has also been a life saver. My credit was horrible for lack of a postage stamp (I'd always forget to get stamps and couldn't mail the payment and a new month would roll around!!)
Comment by MARY MACEDO on February 24, 2014 at 8:55am
I have a friend who has to pay all his bills on the first of every month. So I go with him and pay all my bills which isn't due till the middle of the month. I also have 2 dunkin donuts gift cards and their DD perks card. I try to put about 15 bucks on it. I always try to get pre-paid everything
Comment by Debbie on August 18, 2011 at 4:28pm

I'm a professional artist and I've enlisted a friend with organizational skills to help me get my office set up and my books on Quickbooks. I've never taken support groups seriously and have been a loner.  But I look forward to the effect that accountability has on my habits.  

I'll try to keep an eye on what is discussed within this group.  Thanks!

Comment by MARY MACEDO on October 28, 2010 at 4:25pm
i have all the bills in front of me and try to pay the all in the same week so they are paid around the same time
Comment by Erica on April 16, 2010 at 3:57pm
As a recently diagnosed adult with ADHD, this is one area of my life that I am tackeling first. And the first step I have taken is to enlist a support team. I asked my sister to have bi-monthly "finance updates" with me to hold myself accountable and seek her guidance for organization. She's a wonderful financial planner, so I am using her help to get myself organized.

I am finding that systems will evolve, I just need to stick with what is working.
Comment by Jo Ellen on February 19, 2010 at 2:06am
I started a new discussion: Tips to Curve Overspending & controling finances. And I move all the Open wall comments in order to the discussion.

Jo Ellen
Comment by Barbara on February 18, 2010 at 7:55pm
hawaiimei , I put your 1,2,3's and important points in word doc, underlined, highlighted so I can go and print it out on colorful paper as I reminder to be good to myself instead of causing undo stress and panic from not managing what I am blessed with. :) Thanks again!
Comment by Barbara on February 18, 2010 at 7:12pm
O.K I will do that, please come along all of you.
Comment by Jo Ellen on February 17, 2010 at 5:26pm
Just a suggestion, but someone should make this a discussion instead of writing on the comment wall. It would be easier to find and the comments would start with the original poster and all the responses would follow below the original post. For some reason, I am having to read it from the bottom up. It is an interesting discussion.

Jo Ellen
Comment by hawaiimei on February 17, 2010 at 4:07pm
Like everything else, I find that it is a trial and error journey for me. Nothing works for too long because I’d get bored and try modifying whatever is working. Generally speaking – the simpler and easier, the better chance I’d do it and keep on doing it.

After over 10 years of working with different financial counselors, coaches, therapists and software programs, here are some things that work for me and may be it will work for you too.

#1 priority for me is to take my ADD medication (a must for me to curb my impulse spending and not get overwhelmed with handling my finances).

Never be late with bill paying again:
o Pay bills only twice a month on 1st and 15th and use a simple handwritten page (a spiral steno notebook will do) for each month listing all recurrent bills due each month (most likely the same list for every month)
o list bills due 1st and 15th with amounts (e.g. pay on 1st if due date is on the 10th or 15th, pay on 15th if due date is on 23rd etc., allow enough time)
o check off all bills paid each month
o Recommendation if you use the computer: To make bill paying easier, I set up online bill payment (free) with my checking account and vendors (credit card, utility, phone co. etc.) – NOT automatic payment; I’d authorize payment online on the 1st or 15th, it’s a snap and takes less than 5 minutes each month

(Best to take your ADD medication first before doing the following steps, it’ll help with focusing)
Know you have enough money to spend (basic 2 steps)
o Know what you need
o Where’s the cash

1. Know what you need
o Simple list of all expenses for the month:
 must have: food, gas, utilities, medication, insurance dues, etc.
 good to have: clothing, make up, hair care, toiletries, household supplies, birthday gifts etc.
o Simple list of all money coming in
o Compare the two lists and see if you have enough to cover, if not, fudge the ‘good to have’ list till you have enough (this is the hardest part)
o If you need a new tire, some of the ‘good to have’ items will have to go unless you’ve saved up some spare cash
o You can do this in Excel also: 2 columns: In & Out

2. Where is the cash
o Take out in cash the total for food and gas for the month (or half the month if you don’t have enough). Divide the cash by 4 (or 2) and put in 4 (or 2) separate envelopes. You’ll get to use a new envelope each Sunday.
o If you cheat and use the cash for something else like a new mascara that you must have, you’ll have to eat Ramen noodles instead till Sunday.

These are basic steps to help me get on track. Once stabilized, there are fancier ways to stay on track. I’ve used many software programs and felt immensely at peace using YNAB (You Need A Budget) knowing I have one month ‘buffer’ money set aside. That took me a couple of years and often I need to dip into that buffer.

Spare money:
What works for me is ‘Out of Sight, Out of Mind’ i.e. if I don’t see it in my checking account, I don’t have it. If I get a check for my birthday present or anything not expected, I’d put the cash in a tin can in the pantry (actually a fake Scotch Guard can). I’ve been able to save a couple of thousands that way and not for any purpose at all.

There is always hope and there are ways that would work out of a seemingly desperate situation at times. Do what works for YOU and the only way is to try and see if it helps you. Good luck and don’t give up!
 

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