How to Fix Your Credit (and How ADHD Gets in the Way)
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- Опубліковано 13 чер 2024
- Need to fix your credit? Me too! Let's do this.
Special thanks to Rick (rena-fi.com) for helping us learn how to do it in a way that's ADHD friendly :)
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That feeling when you get too scared to check your bank account
We can help with that! Feel free to reach out and we can get you on the right track so that you don't feel scared anymore! 😃
One thing that helps me is to check often. Small changes are easier to track and MUCH less anxiety inducing
@@RenaFi silence, brand
@@BushidoMauve For sure! Checking your accounts often builds awareness and usually reduces anxiety issues surrounding money. Not checking obsessively ... just checking more often ... and being consistent. Even if the news is bad, we need to see it ... which ironically, reduces anxiety.
Too scared to open my mail :/
Sometimes I wonder how it feels like to have complete control over what I'm doing lol
The only people who believe they're in complete control ... are delusional! LOL
Same
I struggle to explain people I don’t trust myself because I always repeat same mistakes I promised myself never to do again
I feel the want.
This the one lmfao🤣🤣
ADHD can gives us unrealistic optimism.
Which is funny since I am pessimist.
I'd say consciously realizing you have "unrealistic optimism" is actually a form of pessimism. But I feel you. I'm the same way.
Living on a champagne lifestyle with a beer budget. Me me me me ME.
I wish I still had that, I flipped to the other side :/
@@RenaFi I don't think it's pessimistic, I think it's awareness
"The ADHD Tax." Yeeesss all those late fees and shit
And avoiding/forgetting to call or email
The companies that require you to do so to cancel subscriptions. Arghhhhh
Things I forgot I owned and got a second one of, or things I got "just in case" I can't find the other one.
Buying another plane ticket because I missed my flight. Again.
Yes!!! Perfect and accurate terminology.
@@theuptonfamily1523 yes! I struggle with this so much.
The "you forget to pay bills you have money to pay" is too real! Especially after you move and your payment dates for utilities change...
omg seriously, moving gets me every time.
And can I publicly chime in with how much I hate it when banks sell my mortgage?! I have been sold out twice since I got my house. And everything changes each time. I just don't do transitions well.
My worst fear, not even financially independent yet
@@lauraholzler1417 “I just don’t do transitions well.” I felt that.
Direct debit for necessary bills also helps
Ok I’m going to quit putting it off and finally create separate accounts for reoccurring bills, savings, and “allowance”. Gotta do it right now though... cause you know... ADHD
YES DO IT :D
When my hometown bank and college bank ended up merging and I found myself with two checking accounts at the same bank, I ultimately landed on something similar. It's really worked well for me.
I visualize all three accounts lined up. Money comes in the "middle" checking account and bills/checks are paid directly from there (as automatically as possible). Once a month around payday (I get an email alert to remind me direct deposit has happened), I figure out how much needs to stay in that account that month (leaving a buffer), then move some money to the "left" to top up the account linked to my debit card for the month ahead, and move anything left over to the "right" into savings.
Yes! Do the thing! I did this on advice from my credit card company rep actually and honesty? It helped a lot more than I though it would. Having multiple accounts is something that I thought would be daunting but it isn't. I have ADHD and bipolar disorder so I'm REALLY terrible with my money and impulsiveness is my middle name so I'm really trying to get myself together.
Since ordering my finances like this, I've been able to pay down two credit cards...even if I did get another one and accidentally ran that one up ^^' But I'm working on it! I'll fix it (^▪︎^)/
The BEST part about doing this (for me) is that it actually enabled me to spend guilt-free. I didn't have to worry about "Can I really spend this? Is this too much?" and the inevitable "I want this, but don't need this, so I'm a bad, irresponsible person," but now I can actually ENJOY the process of picking out exactly what I want. Plus, if I want the flashy thing, instead of the cheap one it actually encourages me to put it off so I can save up more! This has been one of the most revolutionary things I've done to help with money lately. As a side note, I've arranged with my wife to set up a "bounty" for tasks. Accomplishing a task means that I get money *immediately* transferred into my "fun money" account. That way if I want something badly enough, I just have to put in an hour or two accomplishing something useful to get what I want right then and there. Then, I get my toy PLUS the satisfaction of doing something useful in the process.
It really helps... as long as you don't cheat. Still working on that one.
That's how I do it and I wishlist on Amazon rather than impulse purchase most of the time.
credit scores and cards and everything make me so scared i cry when i think of it. thank you for talking about this subject
How to ADHD, thank you! I am basically anxious as hell just thinking about money and credit cards. I don't spend much money and don't compulsively overspend like a lot of people but I am basically anxious as hell anyway. I have my parents to thank for patiently working with me to learn how to budget.
You're not the only one! The fear is learned ... and shame is also learned. We can unlearn them, or at least overwrite them. We attach these things to money as if money issues are character issues. They are not!
It’s a scary thing! From my ADHD experience, I found that using YNAB (you need a budget) software regularly! And spending the time to know what your money is doing, and budgeting for my ADHD tendencies, has brought a lot of peace when it comes to money and credit, additionally regularly (monthly) knowing my score. I missed a payment this month, I see how my missed payment impacted my months score, which helps keep me motivated. One thing I personally love about YNAB, are the reports, knowing what I spent on what, (which gets automatically updated from my bank) really helps. It really is okay to have fears and worries about finances, ADHD or not. money is a huge part of life, and not having it when you need it is scary!
I highly recommend The Financial Diet's channel if learning more about money helps calm your fears. Especially earlier on in their channel, they talked a lot about building credit, how to balance saving and debt payments, and how to navigate having a really tight budget. It's a great resource, especially if you're already a UA-cam person and/or if the usual financial industry advice isn't doing it for you.
Actually, @How to ADHD, I'd love to see you do a collab with TFD!
Yes! Your videos are perfect and so timely! I love the pics and can’t wait to try them out.
Thank you!! Impulsive spending is my biggest problem, and it affects my ability to clear debt sooner. This in turn causes a great deal of anxiety.
Spend impulsively online and send the stuff you don't actually need back! It's the way I survive.
Pay yourself first ... have money taken out of your paycheck and automatically redirected into savings before you ever see it. Then, clear your debts, or at least pay it down some when your paycheck first arrives. By leaving discretionary spending to the last, you protect yourself from spending too much.
Impulsive spending is a form of addiction which affects those of us with ADHD far more than the neurotypical individuals
Seriously though I need this video. "Forget to pay bills that we had the money to pay" Haha, who, ME?!😅
OMG I did it again this month. I really had no idea this was a thing. And I've been doing this my whole life. I can't tell you how many times I've been in the place you described.
Marisa, our suggestion? Automate, automate, automate. It's a bit more complicated than that of course, but certainly doable ... NEVER pay another late fee! Never pay another overdraft fee either.
I'll have the money but not want to pay it because it'll stress me out seeing my account has hardly any money in it afterwards
So I tell myself I'll pay it closer to the due date
and then
I don't
And then guess what now my account has even LESS money in it!
@@riaboyes1299 What would happen if instead of thinking of your account as having less money, you turned it around and thought of paying the bill as you now OWE LESS money?
@@RenaFi
I've tried that but then my brain is like "but it's better to have money in your account in case you need it! even if you're in debt it's better than not having money and having to go into debt when you need money!"
Or I just don't view rent/internet as owing money, for some reason 😐
My parents both have ADHD so growing up was... interesting. 😂 Before automatic bill pay I never knew when the lights or the water would be shut off and I was very young when I started “collecting” candles and bottled water in my closet, packing my important things in an emergency bag, asking my parents if the bills were paid. I am also adhd and am constantly fighting the adhd tax and trying to help my parents do the same. A nice thing I learned about the forgetfulness and credit score? We just checked my dad’s and his is actually pretty great and a lot had to do with a credit card he forgot he even had ($0 balance!) that was opened 20+ years ago! 😂
Financial Diet is also awesome on here, generally easy and entertaining so I (mostly) pay attention. 💕
Champagne lifestyle, beer budget, what's the difference? Alcohol is so expensive I can't even be an effective alcoholic 😤
Correction, smirnoff vodka is only 40$ a gal. 😉
Heaven hill is just but 36$/gal
It’s just an Aussie expression that explains how we love nice things but just can’t afford them
I really appreciate the conclusion at the end, when people put up lists at the beginning of the video it feels a little bit difficult to keep track
Thanks! I'm trying to get better about remembering to recap :)
Key point: in Australia and NZ, credit cards do NOT help your credit score. They are seen as "potential debt" and are a risk if you are getting something like a car or home loan. Yes, you can show payment history, but you are better to just have none at all as our credit score system works differently to the USA/Canada. (Source.... almost had to declare bankruptcy at 27 this year because I can't maths & got medically retired 🙃)
Oh wow, thank you so much for sharing this! In the US it's the complete opposite...
@@HowtoADHD yeah I had NO idea, and obvs cos I've watch american credit score videos I did the wrong thing!! It's kind of bonkers how diff it is tbh, but hopefully it helps someone avoid the pickle i got into
@@HowtoADHD same in Germany. having no debts whatsoever is always preferred over having debts and paying them off on time. friends had trouble renting a place in the US because they rarely use their credit card and never took a loan or had any debts. so they had trouble tproviding landlords with "payment histories" :D
Pretty sure in Germany they are about a net neutral, if you don't pile on debt on them. If you do, that's a big problem.
So only get a credit card if you are responsible with it and pay everything back right away. Ah who are we kidding? You have ADHD, you won't. So don't get one. A lot of banks have debit-like credit cards where the money is immediately deducted from your account. Use one of those of you need a credit card for something. Or get a prepaid card.
But for stuff in Germany you never need a credit card anyway and for online stuff PayPal usually is available everywhere nowadays.
@How to ADHD
It is similar in Denmark. We do have a national register for people who repeatedly fail to pay bills/repay loans - being on this list will pretty much prevent you from being able to obtain a loan anywhere (stores, banks etc.) until you are debt free.
People are not expected to have a credit score like in the US. You are usually evaluated by your assets and (stability of) income. Having debts might even hurt your chances of obtaining a loan (or lower the amount you will be offered), depending on the situation.
Just an FYI, because the video had Denmark listed as a country with this system, when it's not really the case.
I’m getting my official diagnosises for adhd ocd and depression soon!
I'm so happy for you, but try to go in thinking you have them and not knowing that you have them. There are many illnesses that can look like those and going in with the expectation that it has to be those could give you a false diagnosis and not help you very much in the long run.
Best of luck I hope your mental health prevails
@@miguelmuniz5528 also depending where you go I think some people think people are drug seeking and try not to diagnose with ADHD to avoid prescribing stimulants- I honestly think that's what happened to me. I couldn't get re-diagnosed with ADHD as an adult even though the symptoms are glaring to me. They basically just gave me an IQ test and that doesn't show ADHD symptoms imo.
👏 👏👏❤️🌺
@@kalpic11 That's incompetence on the part of the provider. ADHD isn't even on the same spectrum as ADHD. They're totally unrelated.
Start saving cash as well. Even $20 a month or a week adds up pretty quick.
I don’t earn money?
@@Mememe.03
Then don't save?
It'll turn into bonus cash when you lose it and find it again in 2 years! 🙃
Just pretend it's always lost and believe there will be more... There's always enough. Then it'll always be bonus cash you can invest in yourself when you find what you want to do.
I always put some spare cash into a glass jar. Today I counted the money and i have over 200€ saved!
I've found one of more important things is having a long "history." Don't ditch your high interest college-student-scam-card, just don't use it. Its crazy long life helps add to your overall average credit history.
Yes! What a good tip!
Yes! And having more open available credit is good.
@@janam4482 Absolutely, having more open credit available to you is good. Your credit score will improve as lenders trust you with higher credit lines. The caveat is, you have to use it wisely ... keeping in mind that it's not your money and your future self will have to pay back what you borrow plus interest. Think, "Higher credit lines, Lower usage."
Actually, you should use it. Just pay it off each month. You never pay a penny in interest if you pay the bill in full on or before the due date. If you don't use the card, they might close it on you so it's best to actually use the card. Plus, using the card means they'll likely increase your credit limits in the future. You might not think you need a credit limit increase but it's nice to have the option to put large purchases on a credit card for the extra perks like an extended warranty or the ability to do a chargeback if you get scammed.
I only put small recurring bills like Netflix on my cards when I first started just so the balance wouldn't get out of hand. Now that I have a solid handle on my finances (thanks to YNAB), I use my credit cards for most things and just pay it off each month. I don't care what the interest rates are because I never pay any interest.
When I started working on my finances, I had $10K+ in credit card debt and a credit score around 530. Many years later my only debt is my car (which is worth far more than what I owe on it), I have $0 in credit card debt but I have over $35K available to me in credit, and my credit score is around 770.
Years ago I found myself in a rather dire financial situation and it was partly due to ADHD (for which I wasn't diagnosed at the time). I honestly don't know what would have happened if I wasn't incredibly lucky to have a supportive (and sufficiently well-off) family that was able to intervene and help me get a handle on things.
So many of the tips here are things I wish I'd known at the time. I've largely recovered but financial questions still stress me out a lot. Thanks for talking about this!
This year was the first year since 2011 that I wasn’t in my overdraft and actually saved money. In January, I finally told my fiancé about my money issues and she was amazing. We check my account every week and budget for everything I need for this month.
She ruthlessly (but lovingly) went through subscriptions and other direct debits and we agreed on what I really need.
Thank god we did this, especially after losing my job last week. It’s nice not to completely freak out because I can realistically pay my way for a few months.
The credit rating rebuild is much slower, so next year I’ll get a credit card that my fiancé can manage. Not missing payments has been amazing this year though
That's awesome! It's so great to have a supportive person in your life who can help you manage things that aren't a strength.
Here's some internet luck for finding a new job that you love, quickly
That’s amazing! Very brave for you to open up about the financial troubles. I’m glad you two worked it out together🤗
Financial systems in the US are weird sometimes. In Germany you get your salary wired to your account and automate everything is standard. When you make a contract you set it up that the companies just withdraw the money from your account.
Has been that way all my life and I'm not exactly young.
Yeah I love this about Germany. Only thing I hate is Schufa, because why is a private company allowed to collect data about me and rank me? And you don’t even know how they rank you 🙄
I have been working on my credit since the pandemic. I can’t go anywhere, so this is the perfect time to work on improving as much as possible right now. Thank you for this video!
I've felt so bad about ruining my finances for so long. I literally know how to budget but I just couldn't keep myself from spending. I felt so dumb! Just got diagnosed with ADHD and now I see that it wasn't my fault, I just wasn't given the proper tools. Thanks for the video :)
Ugh! Your content has helped me so much with navigating my ADHD. Thank you so much for making this channel so ADHD friendly and informative. You are making an impact on so many people. P.S. your Ted Talk made me bawl my eyes out. It was so inspiring. Honestly, watching these videos has helped me more than anything. I'm currently on my therapy journey and hopefully I will get a chance to try medication and see if it works for me. Again, thank you so much!
oh thank you!! I'm really glad you're finding them to be helpful, tbh no one should have to struggle through all of these challenges alone
So, in true ADHD fashion, I have procrastinated on watching your content.
Comes back:
Oh. This got real, lol
How did you know we needed this after cyber Monday?
had a feeling...haha
Better now than after the upcoming holidays. It's no fun to start the new year deeper in debt.
Wait this isn’t never gonna give you up by Rick astley
😂 The next best thing!
Alongside what the video recommended, having weekly reminders to check my banking apps and log things into my Goodbudget app and tracking documents has been a big help for me. Having that weekly space and time to see what money has come in, gone out, and remind myself what's coming up helps me not forget anything and seeing my expenses go down and my buffer go up is really motivating.
I found sitting down for 15 mins and plan monthly income/expenses in detail on spreadsheet with positive balance in mind then trying to stick with it as much as possible is much easier than tracking my daily expense. Using imagination is more fun and powerful than keeping track of what happened. 💰
Budgeting and tracking my spending AS I SPEND have helped me so much. Knowing exactly how much I can spend goes a long way to curbing impulse spending.
I was lucky in that I didn't have income to spend until after I was diagnosed and on meds. I still have months where I mess up and have to scramble a bit to pay things off. I actually ended up going so far as asking my parents to hold onto money I was setting aside for my insurance payments so I wouldn't spend it. For ADHD brains, I do not recommend going for insurance plans that are 'pay every six months' until you've gotten into the habit of saving.
I really need to look into auto-transfer for savings. I keep putting it in my budget, but never actually set the money aside.
Dreams of buying a house.... Got the salary and had savings. But not the credit 😂. Its so difficult to break the cycle. Did well for three years and it went wrong in 2 months!
I have the salary and the credit, but due to the amount of debt I'm paying off no savings.
Depending on where you are looking to buy the USDA has a rural development home loan to help those who don't meet the requirements of a traditional mortgage!
Or... you can ask a lender for manual underwriting... where they actually look at you as a person rather than as a credit number...
@@fedos You might try a FHA (federally insured) loan. Under 3.5% down payment and easier to qualify for.
Terra galyon I did this loan actually. It was wonderful. At the time it was $0 down and fixed rate around 3% APR - though our loan guy got it even lower. It was super helpful for us, since we had no ability to get savings together as we were being evicted.
3 years in our house now and still going strong.
The only thing some people might not like is you need to move to an area under 10,000 population, since the purpose of the loan is to encourage regrowth of population in rural areas where people have moved away. (At least I think that’s the purpose)
But I love the quiet after nearly 40 years of living in large cities.
Calling out the disabled tax. We love to see it lol. Always glad to see another video.
I needed this video. Financial problems are worse when you have ASD and ADHD
Yes, many factors combine to make matters exponentially worse ... which makes it even more crucial to pay attention. Invest your mental bandwidth into thinking about solutions ... not problems.
But with help you can learn systems to combat that I’m a 40 female Aspie and ADHD Inattentive individual I’ve learnt the hard way
This is EXACTLY the video I needed RIGHT NOW! Like providence, thank you!
Financial issues hit the ADHD community at 4 x's the rate of the general population ... you're not alone!
I can’t BELIEVE you posted this today. I just got in touch with a finance coach. I’ve realized my ADHD is a major contributor to my lack of safety net. Loads of things go into it, but I’m BEYOND ready for it to be under control.
I know things have been crazy for you lately, but thank you for continuing to help us out!
Glad you like the video. A safety net is crucial. It's actually more important than paying off debt. If you're working on recovering financially, we'd love to have you join us for our financial recovery class that Jessica mentioned ... it's starts December 4th and goes for four days. rena-fi.com/financial-recovery-seminar/
While impulsivity is definitely a problem, before watching the video I'd say set up auto pay as often as possible. It helps.
Saying no to buying stuff?
A separate issue lol
yep, automate everything is the first tip :)
@@HowtoADHD High five Jess!! Woo! Absolutely automate. Multiple times I had to call Citi to say *I had the money to pay the bill I just forgot...* Sometimes they're nice about it...
But autopay takes care of the panic *Did I pay that* moments 😊👍
Yes! This saved me early!
When Jessica says "Or if you like me....." I was like "Hell, How did she know?"
I literally stayed up til 4 am working on a plan for paying off my credit cards. good timing lol
This couldn't have come at a better time. I am currently in crisis mode (again) with my rent being two months behind and the threat of eviction hanging over my head. My landlord has been very understanding, but she still has to do her job. So, I'm looking at calling a bunch of churches and charities for help and/or trying to get a loan in order to catch up. In my defense, the last time this happened, it was because I'd had to have emergency surgery that put me out of work for 3 weeks. This time, however, it was due to the same old mistakes I've made time and time again.
It's doubly hard when your teenage son also has ADHD! Together, he and I take impulse buying to a whole new level. 😱
I love, love, love the idea of automating everything. I really need to get on board with that! The only problem I've had with it in the past is the fact that when the payment came due, the money wouldn't be in the account because I didn't make enough to cover everything.
That being said, one thing that has helped me over the past couple of years is switching from a traditional bank to the Chime app. I was tired of trying to handle my finances like a neurotypical person. I've never been able to keep a checkbook balanced or keep track of a budget for more than a few weeks, not even a whole month. The Chime app helps because it has automatic saving features, a "SpotMe" feature that helps with overdrafts, and the best part--when you write a digital check, the amount deducts from your balance IMMEDIATELY! No more forgetting that a check hasn't cleared and spending that money, which makes the check go boing!
Also, just a few weeks ago, Chime introduced a Credit Builder card that helps you build your credit by using the amount you transfer to it to pay your balance automatically every month. You can choose to have part or all of your direct deposits automatically transfer to the card. I'm still getting the hang of using it, but hey, if it helps build my credit, I'm all for it!
Thank you for validating what I have already learned about myself when it comes to finances. It helps to know I'm not alone and that I'm not "lazy" or a "failure" at managing my money. Now if we could just get the neurotypicals to understand that...*sigh*
OMG the times I've not payed bills I had the money to pay. Automatic payments were my life saver.
In my early 20s I had a massive block (previously termed 'anxiety', currently also termed 'executive dysfunction) around public transport (noise, closeness, strangers, smells, organising a transport card and figuring out routes) and wasn't senior enough to qualify for on-site parking. I ended up parking all day in the 1 hour parking outside my office and accumulated so many $50 parking fines over the course of 6 months that I continued to ignore and not pay out of sheer shame, that eventually I had over a $1000 debt with the local shire that I had to make a payment plan to pay off. A low point in my financial management, and my Dad was absolutely gobsmacked when he found out. Now I know it was ADHD tax and it's not just me 😅
This has been a constant struggle for me. Thank you, thank you, thank you!
People with un-remediated ADHD have financial problems at 4 x's the rate of the general population. (as per R. Barkley) It's a very serious issue in the community.
@@RenaFi not to mention raised in poverty and BIPOC
Separate accounts is a lifesaver. I did this before I knew ADHD is what made things harder for me than others, and I found that having a rent-only bank account saved me in thought-energy and in end of month emergencies. Most jobs let you direct deposit the portion you need into multiple accounts, so see if yours does, and set a separate rent/mortgage account and a separate credit card-for-monthly-bills-paying bank account if you can.
A third is for savings, if you can and you're like me.
Great tips as usual.
I appreciate every video you do, thank you so much for this
Hello, Jessica you rock!
There's always room to improve when it comes to finances. Thanks for sharing your tips. Your insight into adhd issues is really helpful.
I am new to ADHD despite being in my 50's, having only started down the road to a proper diagnosis. My doctor sent me one of your videos to start looking into skills and other ways of making my life a little less chaotic. Thank very much Jessica, for these videos, which have been helping me immensely with my struggle and with feeling a little less shame. Although my credit rating is not a problem, I do have issues with money. Partially, I think it is a learning disability that I have had my whole life called dyscalculia. From what I have read, dyscalculia is associated with ADHD like dyslexia is. It is also sometimes called number dyslexia. Have you heard of this disorder?
My credit score was at one point in the high 400s 😬😬 due to a combination of several rounds of unemployment, insane daycare costs for small children, and (what I now know is) ADHD impulsivity. I've climbed into the mid-600s but the impulse buying has definitely impacted my financial goals. I use YNAB and that was a huge help with making sure bills got paid on time, and enrolled in a debt management plan through my credit union for the 20k+(ouch!) in credit card debt, but putting aside savings for future goals or emergencies just never happened. I just got diagnosed with ADHD this year and have been working on strategies to save for things like annual expenses and emergencies. So thank you for this timely video!! It definitely validated a lot of my life experiences and struggles.
I'd just like to point out again that auto-pay is great IF you can pick the date it happens AND you have regular paychecks. If your expenses are very close to your income, it can actually be WORSE to put bills on auto-pay because if you make even a small mistake right before the bill auto-pays, the bounced payment can rack of tons of fees and put your account severely in the red. I do highly recommend some of the other automated things you mention: I have my Direct Deposit split, with a small amount to my savings and the rest to my checking. I also make heavy use of transferring money to other accounts to make sure I don't spend money for essential bills--with those I schedule transfers to occur ON my payday. Automatic alerts are also useful! Setting aside money for a safety net is a great suggestion too. Keep up the good work!!
Thank you so much for this video Jessica! It's lovely to be reminded to drift back to the path!
Being educated in personal finance should be as fundamental as our other wealth identifiers like hygiene, safety, nutrition, and relationships.
I am so thankful for your channel. Thank you for all you do, you will never know how many lives you have helped.
gosh thank you for this and your WHOLE CHANNEL honestly
Being aware helps a lot. We turned on push notifications on our phones so that we get a pop-up every time we purchase something. It makes us both more aware of what we're spending. Combined with the other tips you suggested it helps quite a bit.
Wow! The feels are real!! Thank you so much for posting this video. Your great and love watching and learning more about ADHD and myself through your channel :)
I’ve been watching these videos for over a year and I just want to say thank you. You changed my life 🥺💞
This channel is literally life changing. Thank you for all that you do! This topic is especially tough and I'm so glad you did a video addressing it. I also recently found out I have dyscalculia (which is apparently more common with ADHD) making finances all the more difficult. But resources like this help me to understand myself and work on solutions without shame. Thank you! 🙏
When I'm saving for something, I send my "extra" to a friend, because I'll just end up spending it on take out.
I opened an account with the First National Bank Of Mom when I was trying to save up :) if you can do that, it's a good idea!
This was sooo needed Jessica. Thanks for doing it!
I really appreciate you’re videos
I started watching your videos and was suprised how I related to everything. I always had a hard time wondering why I wasn't able to do the things that were so easy for others. I got my ADHD diagnoses this year at 27. Thank you!
OMGOSH you get it! I needed this so badly! Thank you so much, I'll be watching the videos you suggested, and hope to join the live one.
I am so thankful for this. I’ve been in the thought loop that no one with ADHD was talking about it online since 2013 before the internet really took over our lives.
I live in Texas and really struggled to get my meds refilled even though the prescription was in the car. I was too busy after work with home life, worked too early, and am just so tired and scattered since I was off my meds. BUT GOOD NEWS CAME! My primary care doctor told me soon my med prescription will be electronic, even though it's still a classified substance. I didnt think about how hard I struggled in that area until one of your videos and it resonated SO DEEPLY.
Thank you so much.
I dont have adhd, but many of the strategies you mention here, I use to keep myself financially healthy. Money is hard! Auto saving and not having my card attached to online sellers helps a lot.
Automation really helps so much!
Oh man thank you. This is super timely as I maaaay have spent WAY over my budget (budget? What budget?😬) impulse buying Christmas presents last night. This is so helpful. First thing going on my new budget will be patreon payments to this channel 😊
Omg. How did you know?! Dealing with this right now! Just completed a balance transfer to a bigger credit card. Lol now I only have three cards maxed out after paying everything off in September...🤦♀️🙄 Also! It’s easy to unlock but locking my card has saved me some money so when it’s declined, sometimes I remember I locked it or bc short term memory issues are a thing, I think I don’t have it and give up.😂
Locking the card works because it forces us to "pause." Anything you can to do make spending on non-necessities just a bit more difficult is a good thing. Often times we just need a moment for our rational mind to catch up to our emotional mind. Transferring to another card, assuming it has lower interest, can be a good thing. Just be sure to keep the other card clear. That statistics show us that the majority of people who transfer to another card or get a consolidation loan simply end up owing more money after twelve months.
I'd never thought about actively freezing the card.... implementing that now
I don’t know if you will see this but learning about ADHD helped me so much in getting rid of my anxiety. Now when I zone out or interrupt someone I recognize it. I still ‘say I’m sorry, you were saying something’. But I don’t beat myself up about it. I always thought it made me look like a bad person. I know now that I am not and if I get close to people I have a conversation about. A few days ago with my friend and she didn’t even know and recognized my struggle.
Anyways thank you so much for your channel and helping so many others!
This is soooo important! As someone undiagnosed until adulthood, I just discharged on my bankruptcy at 26 years old!
I want to say thank you been struggling so much with our finances my husband has autism and I have adhd and I spend way more than he does so I am so grateful for this video!
This is so concise and absolutely helpful, thank you
I absolutely love how all these videos have a definite touch of personal experience behind them! Makes it way more relatable 🙂 I've been working on my credit for years, while also struggling with severe ADHD. I've gotten it to a bit above 600, all the way from a 395 initially 😶 and that's with a super limited fixed income. Still a work in progress, but in the time I've spent working on it and my finances, I have slowly gotten better at managing my money overall!
Love your channel! Thank you ❤
Just watching this now... Saved it through the whole day to watch and WOW... This is so helpful to me right now as I was trying to do this idea of not spending more than I have on my own and failed. But not miserably and I was thinking to stay aware so not too bad. Anyway, thank you big time for this one! It's a game changer for certain.
Thank you so much for this. Just being talked at about this was enough to get my brain over the first step and sort out a significant financial issue which has been looming over me for a couple of months now.
Literally needed this !!! Thank you !!!
Hi Jessica! I've been watching and subscribed to your channel for a while, and even though I haven't been diagnosed (it's very hard to get diagnosed where I'm at) I have literally all of the symptoms plus sensory issues, tics, RSD, and other things, as does my dad. Is it wrong for me to tell people I have ADHD even if I haven't- and can't- get officially diagnosed? Thank you so much!
I haven’t been diagnosed with adhd, but I am 90% sure I have it. I’m just too scared to talk to someone. That being said, your videos are so helpful and I can relate to basically all of the issues you talk about. I am a huge impulse spender. Like today, I bought a load of food I didn’t actually want, and since I’m currently unemployed, I couldn’t really afford it either (I used a debit card to pay since I don’t have credit cards so that was one positive thing)
Yes, using a debit card for things like groceries is a good way not to overspend. It will get declined at that counter with no NSF fee. Just be careful if you use it to auto pay bills with because then you might get NSF fees if you overdraw.
Don't be scared. There's a whole ADHD community out here for you to connect with. This channel is a great part of that.
Yeah, that feels devastating at times. I'm 33 years old now with medical doctor degree and got to live at my friend's house like a homeless..
Yes, I was just thinking about my credit score ughhh holidays too!! I am about to get organized! Thanks for the helpful information
Thank you so much for this. I am in tears. Damn.
Question what day are you doing the live q&a with Rick?
Thanks so much for this video!! I appreciate your content. 💜
Do you think you could make a video talking about what ADHD Meltdowns and Shutdowns are? ADHD runs in my family and I've started to think I have the Inattentive kind, but I always assumed I didn't have it because I wasn't hyper like the rest of my family. I thought maybe it was Autism, but my doctor confirmed that it wasn't. I started watching your videos and they've literally changed my life. Your videos like The Wall of Awful, Motivation, and Procrastination, and especially your Declutter videos have really helped me. I've struggled for years to get things done especially cleaning my room. I could never figure out why. It was like there was some kind of mental block. I find listening to music really helps. I think I experienced an ADHD Shutdown yesterday. It was like I just couldn't move or speak, I was in so much distress. I really considered killing myself. Luckily my mom was there to help.
Yes! I love that you made a video about this! My wife and I are currently snowballing our credit, I've applied my ENTIRE previous 2 years of raises to savings, and guess what? It just allowed us to keep afloat while spending slightly more irresponsibly. Finally, we're using YNAB and weeding out our problem spending. Slowly, but surely we're improving!
Thankfully, I'm fortunate enough to be coming into a small amount of money that I wouldn't normally, and we're applying most of it to pay down the 2 cards where we're both authorized users and putting the rest towards expanding our safety net. We'll be effectively halving our credit utilization and I'm so excited to see how much it helps and allows us to snowball more of our debt away.
Thank you so much for these awesome tips! 5 years of stumbling around the internet impulsively trying to improve my finances all sifted through and summed up in one great video.
Best of luck on your financial recovery! b ( ^_^ ) d
Congrats on your progress!
Really helpful and awesomely edited video^^
While I haven’t been officially diagnosed soooo much of what you talk about is relatable. I remember most bills but impulse spending and adhd tax in the form of overdraft or late fees is DEFINITELY something I struggle with. I did track my spending short term and it was eye opening. I won’t do elaborate systems I usually budget each month out by paycheck in excel. I usually forget stuff like Netflix or car registration though.
"wait one minute for each bux you intend to spend"
Well I need your brother in my life now haha
Every single one of things points Is spot on. Automate everything! That has been a lifesaver for me. I have managed to increase my acredita score almost 200 points. I still sometimes put off paying the bills, but the biggest thing that helped me was automating everything so I never missed a payment. It is easier to recover by occasionally paying a little interest, versus a missed payment. I still struggle with the occasional impulse purchase, but I make myself wait. In fact, more often than not I find I almost talk myself out of things. The longer I wait, I move on to something else I want to buy, then wait a while, and so on. I guess getting distracted sometimes is a good thing!
Could you do a video on lack of appetite and forgetting to eat, I've had this struggle my whole life and don't know why it's so persistent
I have this problem too! It made me really susceptible to developing ARFID after a collection of factors combined to trigger it, actually...
If you have someone in your life to eat with, that can help. Setting an alarm for when to eat so that you don't lose track of time in hyperfocus mode can help. Even just doing something like a pomodoro timer when you're working can help, because it forces your brain to take enough of a quick break for your body to become aware of hunger.
We need more of your videos thanks!!
I love you ❤️ you’ve helped me so much
Can we please talk about Rena-fi in the comments section because they're killing it especially for a finance company
We are so glad you are enjoying what we are doing! Thanks for the shout out! 😃
I've been exceedingly lucky to have a fairly natural money-sense in spite of my ADHD and it was amazing to watch this and realise I use SO MANY of the strategies in this video.
- I've always simply ensured I toss a chunk of my money aside into a seperate account whenever I'm paid, and try not to touch it much.
- I have a lot of bills set to direct debit and stick those bills which aren't automated on the fridge so I don't forget about them.
- I pay rent AS SOON AS my bank alerts me I've been paid for the fortnight. Doesn't matter what I'm doing, I drop it to pay rent. (This is the one I worry most about forgetting! I did so once, while I was on holiday. I really should automate it, but I worry I'd forget to turn that off if I move...)
- I'm good at living within my means, even when those means have been very tight. When I don't have much money coming in I give myself a tiny spending allowance each week and once it's gone, it's gone. No more going out. No shopping. Focus on cooking good, cheap meals.
It's reassuring to see I already do so many of the things you mentioned in this video. They work, folks!
That was so helpful! Thanks a lot🙏
I feel like I'm watching this over and over so I can memorize these strategies. Thank you!
Thank you for this video so much. I am optimistic about changing my bad habits
That was good and quick and lots and I have to watch it again now...overloaded
Hi! I just discovered your channel last week and I think I've watched your whole ADHD playlist. I have a topic request (or if you've already done it and I just haven't found it, could you link me to it?). Could you do a video on how to close the video game so I can get on with what I need to do that day? Just, every day for me goes: wake up, walk dog, make coffee, eat cereal, and then I end up on the couch playing games on my laptop for the entire rest of the day. I know this is like a big problem and addictive behavior is a big topic so just anything you could point me to that would help would be appreciated. Thanks! You're great! Keep it up!
Thank you this has been really helpful. I thought I was doing well not spending money impulsively but then Christmas in lockdown came along and instead of spending money on myself I just found myself impulsively spending online for other people. Will definitely try to implement some of these tips. Happy holidays!
As always thank you Jess 💕
Here is another tip: if u know what things u want, make a list (or an Amazon wish list) and send a link of an item to each loved one who u think can afford it so they can buy it for u as a Birthday present or a Christmas present