Adult ADD and Money

7 Strategies To Fund ADD/LD Treatment (ADDitude Magazine)

Here is a short excerpt from an outstanding article from ADDitude Magazine titled "7 Strategies To Fund ADD/LD Treatment". I stumbled upon this article while reading the ADHD & LD Resource Blog. 

There are ways to reduce the financial burden brought on by ADHD. But often, families lose out because they are unaware of tax breaks and assistance programs or run up against problems with their insurance plan. If this happens to you, though, Peter Jensen, M.D., author of Making the System Work for Your Child with ADHD insists, "Don't take this sitting down. ADHD is every bit a biomedical problem as strep throat."

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Interesting Posts related to ADD and Money Management

Here are a couple of interesting posts related to ADD and Money Management:

I'm writing to open a discussion about the problems that ADD present regarding money management. As a middle aged guy, I look back and realize that, among other factors, ADD has had a strong negative impact on my ability to manage my money. READ MORE >>

Also, the UMASS study found that 67 pct of adults with ADHD compared to the control group (15 pct) had trouble managing money. READ MORE >>

Are you a spender or a saver? An impulse buyer, or a scrooge when it comes to spending? Develop self-awareness about your budgeting and spending habits by considering these points:  READ MORE >>

How the brain busts the budget

Liz Pulliam Weston at MSN Money wrote an informative article titled " How the brain busts the budget", it includes examples of how people who have ADHD deal with their money challenges. Here is a short excerpt.

Joelle Greig couldn't explain to herself why she kept using her credit cards for unnecessary spending even though her husband was out of work and their debts were spiraling out of control. It took a bankruptcy, a divorce and the intervention of a friend before she discovered her lack of impulse control was another symptom of ADHD.

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ADD Friendly Blog Posts 9/21

Here are three blog posts that I have read this week that are ADD friendly and deal with money issues that are common for adults with ADD.

33 Ways To Save Money And Reduce Debt: Remember Due Dates (No Credit Needed)

Stop Paying Your Bills Late (Single Ma's Fabulous Financial)

There is No Such Thing as Divorce Insurance - Why Financial Ignorance is Far From Bliss (Personal Finance Advice)

Living with ADD Forums ( Financial Paranoia)

There are not many articles or discussions that deal with ADD and Money Management issues. At the Living with ADD support forum there is personal stories and advice about deal with spending and money management issues.

Managing the ADHD Adult

ADHD Business Coach Nancy Snell has a wonderful article about managing an adult with ADHD. It is not only helpful to those who have to manage the ADHD adult, but it also gives insight to ADHD adults about what to look for in a boss and a working environment.

There are millions of ADHD adults in the workforce. Learn to make the most of their talents.
As a business owner or manager, the odds are that at some point you will have to deal with an employee or colleague who has ADHD (Attention Deficit Hyperactivity Disorder), commonly known as Attention Deficit Disorder.

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Money Management for ADHD Children

One of the problems that many adults with ADD have had in their childhood is that no one was able to understand how to help them learn. To makes matters worse many adults were not taught the basic money management and life skills needed to be independent. If you are the parent of an ADD/ADHD child you need to read the attached article by Peter Jaksa, PhD, that covers ways you can help you ADD/ADHD child to learn the skills needed to venture out into the real world.

Money skills simply don't come naturally to children who are impulsive, disorganized or distractible. Fortunately, a weekly allowance is a great way to teach an ADD/ADHD child how to live on a budget and how to be a smart shopper. It's also a great tool for showing the vital importance of saving.

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Bring Your Bills Under Control

When I think of bringing you bills under control I think about controlling spending. However a challenge for many adults with ADD is to organize and physically pay the bills before their due date. Kathleen Nadeau, Ph.D., and Patricia Quinn, M.D. wrote and excellent article titled Bring Your Bills Under Control for ADDitude magazine. This article gives an excellent example of a bill paying system that could help you pay your bills on time.

Managing Money Means Choosing the Right Karat

I have attached an exerpt from a post by Cathy Jantzen, AD/HD Coach on ADD @ about.com that I think can be very useful to adults with ADD with money issues. What I like about the article is that it suggests that you minimize your record keeping and focus on your emotion issues.

Start out by tracking your spending for a month? Not! That can create what Karen so aptly put, a money management system that looks more like confetti in a tornado. Aside from creating a paper explosion, it most likely will, if you have a spending problem, make you feel really stupid for spending the way you did. Even more so not helpful!

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With only 10 days (for most of us) left to file your taxes, I know that there are many adults with ADD who will be preparing their taxes in the next week, please review my article Taxes are taxing for useful tips.

Helping Your Teen with ADD (ADHD) Prepare for Independence

One of the problems that many adults with ADD have had in their childhood is that no one was able to understand how to help them learn. To makes matters worse many adults were not taught the basic money management and life skills needed to be independent. If you are the parent of an ADD/ADHD child you need to read the attached article by Kathleen G. Nadeau Ph.D, that covers ways you can help you ADD/ADHD child to learn the skills needed to venture out into the real world.

Money Management

In a few short years, teens need to move from thinking of money as a means of immediate gratification - for pizza, clothing, or entertainment - to learning how to plan , budget, and pay bills

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