I want to know more about hyperactivity disorder, lack of attention and religion. I know that many members of hyperactivity and attention disorder face a problem in managing their money, and neurological solutions do not really work for us. I hope you can help create some solutions to save money or try to pay debts. Personally, I have students ’debts, and some debts of credit cards resulting from impulsive spending. What is the best way for me to reduce the use of a sustainable solution, taking into account the ADHD tendency to have a problem following a lot of the structure?
ADHD affects what is estimated 8 million Adults in the United States. It can affect the impulsion and the executive function, making money more difficult. People with ADHD a report Top levels of debt, purchase of motivation, difficulty saving money, and understanding the bank protocols – you may be able to link with this, and you are not alone. It is difficult when trade is Designed to eliminate every barrier In the way of spending money; No wonder that buying the motivation compensates between 40 % and 80 % From all purchases.
I brought your question to David Dioite, a 32 -year -old certified financial scheme in Dewitt Capital Management In Wayne, Pennsylvania, who works specifically with clients with hyperactivity disorder and attention lack. He also has hyperactivity disorder and lack of attention and had to get out of the debts of credit cards from impulsive spending for years.
Dewitt creates systems for its customers to provide and reduce spending that is automated as much as possible. He said: “The most difficult part is to get energy to prepare it and do the ground to know your recurring total expenses, and how much does it need to do so. But as soon as it is prepared, it is automatic.” Many of his clients with hyperactivity disorder and lack of attention have already spent a lot of effort to create budgets, but as I mentioned, it may be difficult to follow this type of structure. He said: “Small pain in the system, and you are just a self-sabotage and surrender-and I can be attached to that.” It is an overwhelming feeling, so you abandon it. His advice aims to “put the walls that do not fall” when “mentally explodes”.
Pure spending and retreat
Often the reduction of spending is the first step to reduce debt as long as you put this money that is not spent on debt payments. “The real work is due to working on yourself and learning how to stop impulsive spending if this is the reason that you have debts,” said Diite. “There is no magic penetration for ADHD,” but there are concrete steps that people can take that may help themselves in a careful world to encourage driving purchases:
- To create awareness of your spending, for three consecutive months, write every time you buy something, at the moment you buy, and keep the total running. This is something that tells all of his customers. “It is an actual magic, because you see the extent of what he adds. You see how quickly fill the page. You see the ridiculous amounts of money you spend, and you start to offend you,” Diite said. “This is what changed my whole life. From that moment, upward, my impulsive agreement evaporates almost completely – and I was bad.”
- Use only deducting and cards for at least three months – “weaned period”, as Dewitt calls it – so as not to spend more than you make and enter more debts. Research shows people Spend a lot When they use credit cards. The ceiling becomes your credit limit, not your income. (You can read my column about payment of credit card debts, switching to cash cards and discount here))
Once the switch is made, do not want to get these drawings and pay these fees, so watch your account frequently (even daily). This will also give you an opportunity to review transactions to start observing patterns and building awareness of your spending, allowing you to make better decisions in the actual time.
- Cancel subscription and membership services that enable easy shopping (such as Amazon Prime, frequent charges to subscribe, save, etc.) to test if you will still really want it. Often, “it’s just searching for dopamine”, Diite said. “If you have to pay for charging, you should really want the product.” While you are in it, cancel any subscriptions you no longer use anymore.
- Use application blockers and web site (some It is impossible to reverse Until the mass period ends) to break the habits. Many people sway to buy the “brilliant new thing on Instagram”. Diite said that he reviews a lot of credit card data for his customers and “food is the biggest problem with the first number” because delivery applications made it easy to request eating abroad. “Many people told me that after several months of spending $ 200 a week on Doordash so that they could not miss it,” Diite said.
Money management to pay debts and provide
As for the debt payment and the provision of funds reliably Reverse the budget It can help. This is where you allocate money for savings and investment first (and based on your fears, student loan, credit card debts), then the rest of your spending. It is the opposite of what most people do, and it is to provide the remainder at the end of the month. “Many of my customers will come to targets, like $ 500 per month towards debt, and we will start with it,” Diite said. The important thing is to take a look at the coming money and go out every month, and decide how to customize your dollars, then automate as much as possible.
- Dewitt suggests creating many bank accounts that serve specific goals, and give them specific titles. For example, “monthly bills and expenditures” – (which includes loan payments), “emergency savings”, “Housing Fund”, “money for investment”, “money spending”.
“If you naming your accounts specifically, you are more likely to abide by,” Diite said. If you are planning a trip, for example, Italy in October, “you can not only get a” leave “account; it is very easy to steal because it is not yet real in your head. You should say,” 2023 vacation to this place. “
As for the account of “monthly bills and expenses”, add all the frequent expenses and use this amount to dictate the amount you will be deposited in this account, preferably through direct deposit from your salary. You must have a “money spending” account separate from estimated purchases, so these things are not disturbed.
- If the employer is able to divide your salary into these various bank accounts based on your budget, take advantage of this option instead of relying on automatic transportation operations from your bank account, which is very easy to turn off. “For people of hyperactivity disorder and lack of attention, I want them to completely pass the employer and prepare direct deposits,” Diite said. “If you create more friction to stop things, it will be easier to adhere to them.”
- It is important to your “money spending” account He should Stay over zero so that you don’t start stealing from other accounts. “You don’t have to sit and provide a complex spending budget if it seems overwhelming, but you have to continue,” Diite said.
- Dewitt requires customers to automate their bills and debt payments to prevent them from snow ball at all. “Get all your bills on the automated pilot, and always get the correct amount of money to the verification account, so that you never have to anxiety.”
“ADHD helps explain your behaviors, but you are still able to get out of your situation. At the end of the day, you need to take care of yourself,” Diite said. ●