While impulsivity and sensitivity can be positive traits for an adult with ADD, it can be a major weakness when it comes to managing finances. Have you ever had a bad day and bought something (clothes, electronics, a sport car) that you had to put on your credit card. When the credit card bill has comes in for the next month it makes you feel worse, and subconsciously increases your desire to buy more stuff to make you feel better. According to Suzanne Zeleman at the University of Missouri Outreach & Extension Program (to see article click on the link below) there a four steps that you can take to break this downward spiral.
1. Set Goals for your life and Communicate them with your family. Examples of goals are buying a home, giving more money to charities, places you want to visit, going back to school, etc. If you know where you want to direct your money, you will be less likely to buy items that don't fit in with your goals.
2. Recognize you emotions, and understand why you are buying an item. Do you buy a new DVD or CD every time you have a bad day? If you question your purchases before you buy you will be less likely to buy items that don't fit in with your goals.
3. Create a spending plan (Budget)
4. Create a plan for achieve your overall goals (Life Plan)
http://extension.missouri.edu/ecregion/lifetimes/LifeTimes.pdf
Comments