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This post is by Erica Sandberg of partner site Creditcards.com
What happens when you can’t keep your mind on your money? That’s the dilemma of approximately 8 million Americans, according to the Anxiety and Depression Association of America.
More than 4% of U.S. adults have AttentionDeficit/Hyperactivity Disorder (ADD/ADHD), according to the National Institute of Mental Health. ADD is Attention Deficit Disorder without the hyperactivity, which is often used synonymously with ADHD. Whether you or a loved one is among this group, you need to be attuned to the financial chaos it can cause. Problems include blowing cash on unnecessary or duplicate items, failing to pay bills and running amok with the credit cards.
The ADHD-money mess connection Symptoms of ADD/ADHD can include extreme difficulty getting and staying organized and an inability to concentrate. They can also include impulsiveness and restlessness. Therefore, constructing and sticking to a budget and determining which bills need to be paid and when can be especially challenging for those with the disorder.