The Big Bugaboo Money

The Big Bugaboo Money

The Big Bugaboo--money
Do you have ADD? If so,​ does this sound like you,​ Payday isn't until next week,​ and I'm totally out of​ money! or​ My credit cards are maxed out and I​ can't keep up with the​ payments,​ or​ Oh no,​ I​ forgot to​ pay that bill again .​
Now,​ I'm going to​ be hit with a​ $30 late fee! Any of​ these situations can happen to​ people with ADD because most of​ us don't really like dealing with money .​
Here are some tips to​ help you cope with your money situation better:
An ADD-Friendly Bill Paying System
Take some time today to​ buy some colored,​ hanging file folders .​
If you don't have a​ file cabinet,​ pick up a​ file box,​ too .​
Then,​ when you get home,​ make some labels for the​ folders,​ and give them names like bank statements,​ utility bills,​ automotive expenses,​ etc .​
Don't make it​ too complicated or​ another ADD trait will rear its ugly head---procrastination .​
Then,​ each day when you get the​ mail,​ sort it​ right away .​
Stand over the​ shredder or​ trash and choose which pieces go into the​ trash and which stay with you .​
Take care of​ anything that needs attention right away and pay the​ bills that you get right away and then file those into an​ appropriate file in​ your file cabinet or​ box .​
If you can't pay a​ bill immediately,​ put it​ in​ a​ special place,​ like the​ front of​ a​ desk drawer,​ so that when the​ money becomes available to​ pay bills,​ you'll know exactly where to​ find them.
Online banking is​ a​ great way to​ streamline the​ bill paying process .​
Bank security is​ top notch,​ so the​ question of​ you having a​ problem online is​ really out of​ the​ equation .​
The chances are very slim .​
So,​ what you do is​ you take each bill that you receive and you put the​ information needed into the​ online banking account .​
You don't have to​ do this all at​ once .​
Wait until your next bill comes in​ and do it​ one or​ two at​ a​ time .​
That way,​ it​ seems less daunting,​ and remember,​ you only have to​ do it​ once .​
After all the​ information has been entered,​ paying a​ bill becomes as​ simple as​ clicking a​ button,​ a​ mouse button,​ that is.
As you pay each bill,​ put it​ into the​ file folders in​ your cabinet or​ box .​
That way,​ if​ any questions arise,​ or​ if​ you're just waiting for tax time,​ everything will be there waiting for you.
Stop Impulse Spending
With the​ ease of​ use and availability of​ credit cards these days,​ it's easy to​ just pull out plastic to​ pay for everyday expenses .​
Only keep one credit card,​ and never use it​ for daily spending! Put it​ away in​ a​ safe place and only pull it​ out when you have an​ emergency,​ like an​ unexpected trip to​ the​ dentist .​
Make that one card a​ universal card,​ like Mastercard or​ Visa,​ and stay away from department store cards because they'll suck your bank account until it's dry .​
Be wary of​ interest rates,​ too,​ and shop for the​ best card for the​ lowest expense of​ owning it .​
Make sure there's no annual fee,​ too.
And don't carry a​ pile of​ cash or​ a​ debit card .​
Find a​ bank that offers free checking and open a​ separate account for yourself .​
Each month around payday or​ whenever you get paid,​ give yourself an​ allowance that has to​ last until your next payday .​
If you run out of​ money,​ you don't get any more to​ spend until the​ next pay check arrives .​
After you run out of​ money a​ time or​ two,​ you might be less likely to​ indulge yourself with unneeded purchases.
Avoid these impulse spending habits by waiting to​ buy something .​
Just walk the​ other way and wait a​ day before you actually shell out the​ cash .​
This time interlude will allow you to​ see the​ difference between what you really need and what you just want .​
Wants aren't important .​
Needs are what you should concentrate your spending on.
You Should Be Your First Expense
Before you pay any bill,​ any expense for the​ month,​ you should always be paying yourself .​
Ten percent of​ your income,​ every time you get money or​ a​ paycheck,​ should go into a​ savings account .​
If you don't have a​ savings account,​ get one and never,​ ever use it​ except for depositing .​
Your savings account is​ for huge expenses,​ like buying a​ house,​ repairing your car,​ or​ retirement .​
These tips are great for people with or​ without ADD .​
Put at​ least one of​ them into practice and see how well it​ works for you .​
We guarantee that you'll be back to​ try another.

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