Certain characteristics of ADHD, likeimpulsivityandinattention,can be costly.
Maybe you bought all those vegetables and discovered them moldy in your fridge drawer?
Or you forget to make that credit card payment on time and now owe a late fee?
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Even small amounts of money lost or spent can add up over time.
At a Glance
Certain ADHD traits can take a real toll on your finances.
Poor memory can make it hard to remember to pay your bills on time.
Distraction might cause you to lose items or forget about the meal you have in the oven.
It all adds up!
It’s inconvenient and can sometimes lead to credit problems and chronic debt.
Why Does ADHD Come With a Tax?
Beyond the sheer cost of those things, chronicdebtand multiple late payments can end up ruining your credit.
With poor credit comes higher interest rates which means you end up paying even more on that debt.
If that sounds painfully familiar, here are some ADHD-friendly strategies to help you regain control of your finances.
Request Fee Waivers
Overdraft fees and late fees can add up.
You don’t even have to provide a reason or justify your lateness.
You just have to make the request.
My bank will waive up to three overdraft fees per year, for example.
Before I started treatment for ADHD, I was using up all three of those waivers every year.
To lower that risk, go into your account parameters as soon as you sign up for the trial.
If it’s not, you might able to simply remove the card information you used to sign up.
That way, the service doesn’t have a card to charge automatically.
When you get paid, send the money you need for bills to that account.
Leave the debit card for it at home.
Then, set up autopay for your bills on that new account and forget about it.
Use your old checking account for daily spending.
Heres what I do:
Technically, this isn’t meal planning in the way you often see online.
I’m not spending an entire Sunday crafting perfectly portioned meals for each day of the week.
In the meantime, look for free or cheap ways to pursue your new interest.
Find YouTube dance tutorials to learn basic stepspractice drumming techniques on pots and pans.
Borrow books about oceanography from the local library.
Then, automate that plan as much as you’ve got the option to.
Takeaways
ADHD tax can take a real toll on your finances.
Once you recognize the big culprits, you could devise a plan to tackle them.
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