ADD / ADHD Coaching Blog

Spending: Wants versus Needs

In a time of increasing money worries we need to balance our wants versus our needs. If you are one of the many people spending beyond your means it’s time to think before you buy.

Start by making a list of all the things you want, and then ask yourself, “do I just want this or do I need this”.

If you are not sure, write down what will happen if you don’t get it. Will it cause danger or damage to someone or something without it? For example, if I don’t get a case for my cell phone, it will get damaged. Or, if I don’t get new tires, it will be dangerous for me to drive.

For the things that you just want but don’t necessarily need: prioritize your list by how much you want it, then go down your list and ask yourself if each item is worth saving or giving something up for? If so, start collecting for it by emptying your pockets of loose change everyday into a jar or give up that expensive cup of coffee for a moth. If it’s not worth saving for – take it off your list.

Here are some great ways to save:

• Don’t carry your credit card. Use cash to make purchases. Seeing the money actually disappear should make you think twice about spending.
• Set up banking alerts to email or text message you with your available balance every day. Many people overspend because they have no idea how much is in their account.
• Discuss purchases over a pre-established dollar amount with a spouse, parent, or friend before you buy it. For example, say you see a beautiful lamp for $100. Make it a rule that you must check with someone who is more logical about money before you buy anything over $75.
• Buy things that you need regularly in bulk. If you don’t have the space, consider shopping with a friend and split your purchases.
• Join a freecycle group in your area. This is a listserv where people post things that they want to give away. You may be able to find what you want for free and save the environment.
• Barter for things and services by using a service like Swap Thing or start a bartering group among friends.
• Before you buy – check online to see if you can find a coupon or coupon code. Do your research by going to a price comparison site like My Simon.

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Kim Collins, SCAC, JCTC

Senior Certified ADD Coach Specializing in Career Transition & Workplace Productivity

www.organizedkaos.com
240.361.2322  (office)

IF YOU'RE NOT READING MY BLOG, YOU ARE MISSING OUT!
www.coachkim.blogspot.com

Prevent the Post-Holiday ADHD Money Blues!

As an ADHD Coach, wife and mother of ADHDers, I know how difficult the holidays can be, especially on the pocketbook. ADHDers react impulsively to the excitement of commercial advertising. As a result you often spend too much and get into debt more easily.  Then spend the next few months having to reduce your grocery bill to pay for your splurge over the holidays. Been there, done that, after all I have been married to an ADHDer for 23 years and so many of my clients come to me to get help with your financial health.

Most experts will tell you to make a household budget and stick to it. The problem is that household budgets are boring and so they don't ignite your ADHD brain. Instead, use your creative brain to find amazing ideas that add value instead of sleepless nights. We have become such a society of consumers that we forget that what makes the holidays memorable is not the big gift we received but the quality of the time you spend with your loved ones.

Some of our best Christmas memories as a family was the time I spent with my daughters when they were young creating decorations for the tree or baking fun cookies. And each year we're reminded of those times with the decorations we created so many years ago that still don our tree each year. We make it a point to decorate as a family.

That was my story. Now it's your turn: I challenge you to come up with and share ideas of how you can make the holidays more meaningful for you and your loved ones.

From Coach Linda Walker