Ed McMahon's House Foreclosure

During the last month, Ed McMahon and his wife Pamela's foreclosure proceedings have been discussed a lot in the press lately. A lot of times when you hear about a celebrity dealing with financial problems you think about an immature young celebrity who spends all of  their money because they don't appreciate just how rare it is to earn the amount of money they are making. The Mcmahon's plight hits home because you do not expect a successful couple who has been married for 18 years to have to deal with foreclosure.

There are a couple of key issues that the McMahon's foreclosure bring up that adults with ADD are more likely to face. One issue is communicating with your spouse about financial issues. A lot of times in a relationship the partner without ADD manages the money. When using this system it is a good idea to make sure that you agree with your partner to discuss any major financial decisions.  It is also a good idea to occasionally review all checking, savings, investments, and credit card bills so that you understand and agree with the decisions your partner makes.  It is important that you have input to how your money is being spent as well as knowing why your partner sets spending limits.

There has been news reports that the McMahon's owe $750,000 on their American Express Card, it seems likely that their are spending issues that might be compulsive shopping. Sometimes it is easier to accept our own problems if we see other people dealing with the same issue. It can be more difficult to accept that you have a problem with shopping addiction, because compared with other addictions, there is not much of a negative stigma realted to a shopping addiction. While Adults with ADD may make poor shopping and money management decisions due to their impulsive nature, compulsive shopping reaches a deeper level. Here are some warning signals that you might have a compulsive shopping problem:

1. Buying items that you do not need or items that you have never used.

2. Hiding purchases from family and friends or lying about how much money you spent.

3. Borrowing or stealing money from others to shop.

4. Your purchases are causing issues with work or home life.

If any of these warning signs apply to you or you feel you might have an issue with compulsive shopping please go the the debtors anonymous web site below.

http://www.debtorsanonymous.org/

If you would like to learn more about this subject please visit the following websites:

http://www.indiana.edu/~engs/hints/shop.html

http://www.addvance.com/add_friendly/newsletter/april05.html

http://www.starbreezes.com/11/shopping.html

Comments

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