Don't Let ADD & Money Make a Monkey Out of You
Do you have ADD? If so, does this sound like you, "Payday isn't until next week, and I'm totally out of money!" or "My credit cards are maxed out and I can't keep up with the payments," or "Oh no, I forgot to pay that bill again. Now, I'm going to be hit with a $30 late fee!" Any of these situations can happen to people with ADD because most of us don't really like dealing with money. Here are some tips to help you cope with your money situation better:
An ADD-Friendly 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.
Then, each day when you get the mail, sort it right away. Stand over the shredder or trash and choose which pieces go into the trash and which stay with you. Take care of anything that needs attention right away and pay the bills that you get right away and then file those into an appropriate file in your file cabinet or box. If you can't pay a bill immediately, put it in a special place, like the front of a desk drawer, so that when the money becomes available to pay 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.
When you've finished paying your bills, file them into the appropriate folders in your file cabinet or box. Now, everything you need is really for the tax time rolls around.
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.
Don't carry around huge wads of cash or a debit card linked to your bank account, either. If you prefer the convenience of plastic, open a separate bank account and put a monthly "allowance" into it for yourself. When the money's gone, you'll just have to wait until next month to get more. This should help you to budget your spending and hold back on those impulse purchases a little.
When you think you want to buy something, hold off for a bit. Walk away and just wait a day or so. Your enthusiasm for the purchase will probably diminish. You'll also be able to tell whether you really NEED something or whether you merely want it. If you simply want it, forget it and wait to buy until something is really needed.
You Should Be Your First Expense
Before you pay any bill, any expense for the month, you should always be paying yourself. Ten percent of your income, every time you get money or a paycheck, should go into a savings account. If you don't have a savings account, get one and never, ever use it except for depositing. Your savings account is for huge expenses, like buying a house, repairing your car, or retirement.
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.
ADD counselor Tellman Knudson is a certified hypnotherapist and NLP practitioner and CEO of Overcome Everything, Inc. He has helped many clients achieve better lives by working with ADD, not against it. To learn more of his fascinating secrets for dealing with ADD, visit his website InstantADDSuccess.com ( http://www.instantaddsuccess.com }.
An ADD-Friendly 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.
Then, each day when you get the mail, sort it right away. Stand over the shredder or trash and choose which pieces go into the trash and which stay with you. Take care of anything that needs attention right away and pay the bills that you get right away and then file those into an appropriate file in your file cabinet or box. If you can't pay a bill immediately, put it in a special place, like the front of a desk drawer, so that when the money becomes available to pay 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.
When you've finished paying your bills, file them into the appropriate folders in your file cabinet or box. Now, everything you need is really for the tax time rolls around.
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.
Don't carry around huge wads of cash or a debit card linked to your bank account, either. If you prefer the convenience of plastic, open a separate bank account and put a monthly "allowance" into it for yourself. When the money's gone, you'll just have to wait until next month to get more. This should help you to budget your spending and hold back on those impulse purchases a little.
When you think you want to buy something, hold off for a bit. Walk away and just wait a day or so. Your enthusiasm for the purchase will probably diminish. You'll also be able to tell whether you really NEED something or whether you merely want it. If you simply want it, forget it and wait to buy until something is really needed.
You Should Be Your First Expense
Before you pay any bill, any expense for the month, you should always be paying yourself. Ten percent of your income, every time you get money or a paycheck, should go into a savings account. If you don't have a savings account, get one and never, ever use it except for depositing. Your savings account is for huge expenses, like buying a house, repairing your car, or retirement.
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.
ADD counselor Tellman Knudson is a certified hypnotherapist and NLP practitioner and CEO of Overcome Everything, Inc. He has helped many clients achieve better lives by working with ADD, not against it. To learn more of his fascinating secrets for dealing with ADD, visit his website InstantADDSuccess.com ( http://www.instantaddsuccess.com }.
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Source: http://www.articlealley.com/article_146860_63.html
Source: http://www.articlealley.com/article_146860_63.html
Labels: money
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