Money management problems of ADD / ADHD adults
May 9th, 2007 at 5:50 am (Money Management)
Many adults and couples do not realize how ADD/ADHD can impact their money management, and more importantly, their long- term financial planning.
However, the truth is that the ADD / ADHD symptoms of procrastination, disorganization and impulsivity can interfere with good money management.
AD/HD adults often report the following money management challenges:
- forget to pay bills
- run up huge balances on their credit cards
- cannot save money
- are unable to follow through on long-term financial goals
- shop impulsively
- have difficulty keeping financial paperwork in order
- fail at budgeting and recordkeeping.
Personal or family money management can obviously have a devastating impact on your future so it’s important to address this as soon as possible.
- Ask for help. Consult an accountant or bookkeeper
- Have someone else keep your books and/or pay your bills.
- Consult with your local public agency to establish a realistic budget and contact your creditors.
- Design a realistic and effective plan to pay your bills and address your debt.
- You might destroy your credit cards and replace them with debit cards from your banking institution.
