Adult ADD: An ADD-Friendly System for Financial Freedom
Many of us with ADD find managing money difficult.
All those numbers can be boring, which is totally incompatible with ADD.
People with ADD don't do well with boring situations.
So, here's an idea that's very simple, and also very effective.
A common philosophy that's emerging right now has been popularized by T.
Harv Eker and is very ADD-friendly.
It's an important wealth principle that's been around for years and years, and it's a very simple way to organize your money.
The concept is that you break your money up into multiple accounts; for most people, that will mean seven separate bank accounts.
Then, when you get your monthly or weekly or whatever paycheck (and if you have your own business, you should be paying yourself a salary, too), you set up seven bank accounts: one is for your expenses, and you put 50% of the money you earn into that.
Then, you put 10% of the balance into accounts, labeled this way: Education, Gifts, Taxes, Long-Term Savings, Financial Freedom, and Play.
That's one people with ADD will love because that's where ADD impulse purchases can come from.
And you have to spend it every month.
Use it to buy or do whatever you want.
This system is very simple, which makes it very ADD-friendly.
You don't have to think about it.
You know exactly how much money you're going to earn.
You go to the bank and you hand them the check with seven deposit slips.
Boom! You're done.
You can learn more about this method of money management in T.
Harv Eker's book, Secrets of the Millionaire Mind, an excellent resource for many reasons aside from this system.
His stuff is truly amazing! But this is great for people with ADD because you've separated your money outand you always know how much money you have to spend on a given type of purchase.
If you don't have enough money in your fun or play account to go out to dinner again that month or to make that ADD impulsive purchase, you don't go out to dinner and you don't spend money on something you don't need.
If you know for sure that you're going to have a percentage of your money going to all these different areas, it becomes very easy to manage the money that comes in, because you set it up based on percentages.
But they can be flexible, too.
Let's say you decide that 90% of your money needs to go to necessities.
If you get $100 in, you put $90 in your necessities jar, and you split up the $10 between all of your other areas.
But there can be problem with this.
When you start building a habit of paying yourself first, you will get too much money in your savings account, and because we're ADD, we want to go spend it.
It burns a hole in our pockets.
You can solve the problem by doing something called automatic investing.
Set up an automatic system so that you can automatically deposit a set amount of money every single month, like clockwork.
You can do this with as little as $25.
You may think you need thousands to be able to invest, but it's just not true.
If you want to do something like this, you can very simply go to E-Trade.
com, which has a wonderful program for people getting started with investing.
What's neat about E-Trade is that you can call them up.
You can talk to a broker, and tell them what you want to do.
They'll link your investment account to thebank account of your choice and get it started automatically.
You don't have to become a stock market guru, and you don't have to look at numbers.
ADD people love that.
All you have to be able to do is look at the bottom line and say, "Did my money grow by X percent?" That's a phenomenal way to get started with growing your money.
You have to commit a minimum of $25 a month.
ADD tendency says, "No, I'll commit$100," because your ADD brain can see the potential to make more money, and then you get in a mess.
Start with a realistic commitment, and be sure it's something you can handle.
Don't let your ADD control that decision.
This simple system of distributing your money and investing it will put you on the right track.
If you don't have a money management system in place, your ADD may take over and just squander what you earn.
That's the last thing you want.
You're going for financial freedom, no doubt, like many other people, with ADD and without ADD.
You need to have a solid program that's easy to follow, and it will literally change your life.
All those numbers can be boring, which is totally incompatible with ADD.
People with ADD don't do well with boring situations.
So, here's an idea that's very simple, and also very effective.
A common philosophy that's emerging right now has been popularized by T.
Harv Eker and is very ADD-friendly.
It's an important wealth principle that's been around for years and years, and it's a very simple way to organize your money.
The concept is that you break your money up into multiple accounts; for most people, that will mean seven separate bank accounts.
Then, when you get your monthly or weekly or whatever paycheck (and if you have your own business, you should be paying yourself a salary, too), you set up seven bank accounts: one is for your expenses, and you put 50% of the money you earn into that.
Then, you put 10% of the balance into accounts, labeled this way: Education, Gifts, Taxes, Long-Term Savings, Financial Freedom, and Play.
That's one people with ADD will love because that's where ADD impulse purchases can come from.
And you have to spend it every month.
Use it to buy or do whatever you want.
This system is very simple, which makes it very ADD-friendly.
You don't have to think about it.
You know exactly how much money you're going to earn.
You go to the bank and you hand them the check with seven deposit slips.
Boom! You're done.
You can learn more about this method of money management in T.
Harv Eker's book, Secrets of the Millionaire Mind, an excellent resource for many reasons aside from this system.
His stuff is truly amazing! But this is great for people with ADD because you've separated your money outand you always know how much money you have to spend on a given type of purchase.
If you don't have enough money in your fun or play account to go out to dinner again that month or to make that ADD impulsive purchase, you don't go out to dinner and you don't spend money on something you don't need.
If you know for sure that you're going to have a percentage of your money going to all these different areas, it becomes very easy to manage the money that comes in, because you set it up based on percentages.
But they can be flexible, too.
Let's say you decide that 90% of your money needs to go to necessities.
If you get $100 in, you put $90 in your necessities jar, and you split up the $10 between all of your other areas.
But there can be problem with this.
When you start building a habit of paying yourself first, you will get too much money in your savings account, and because we're ADD, we want to go spend it.
It burns a hole in our pockets.
You can solve the problem by doing something called automatic investing.
Set up an automatic system so that you can automatically deposit a set amount of money every single month, like clockwork.
You can do this with as little as $25.
You may think you need thousands to be able to invest, but it's just not true.
If you want to do something like this, you can very simply go to E-Trade.
com, which has a wonderful program for people getting started with investing.
What's neat about E-Trade is that you can call them up.
You can talk to a broker, and tell them what you want to do.
They'll link your investment account to thebank account of your choice and get it started automatically.
You don't have to become a stock market guru, and you don't have to look at numbers.
ADD people love that.
All you have to be able to do is look at the bottom line and say, "Did my money grow by X percent?" That's a phenomenal way to get started with growing your money.
You have to commit a minimum of $25 a month.
ADD tendency says, "No, I'll commit$100," because your ADD brain can see the potential to make more money, and then you get in a mess.
Start with a realistic commitment, and be sure it's something you can handle.
Don't let your ADD control that decision.
This simple system of distributing your money and investing it will put you on the right track.
If you don't have a money management system in place, your ADD may take over and just squander what you earn.
That's the last thing you want.
You're going for financial freedom, no doubt, like many other people, with ADD and without ADD.
You need to have a solid program that's easy to follow, and it will literally change your life.
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