Print
"Saving money? You’ve got to be kidding! I’d be doing well to keep up with my bills, never mind having anything left over to put away."
I hear this refrain from many clients with attention deficit disorder (ADHD) when I suggest that they need to think about saving money for their child’s college tuition, their own retirement, or an emergency, like a transmission for the car or a new roof for the house.
Most U.S. households have trouble putting money away — statistics show that Americans, on average, save only 1 to 2 percent of their family income — and those with ADD have an even harder time saving for their future. It’s difficult to resist impulse buys (“I’ve got to have that new cell phone”); to recall what you’ve spent (“I forgot about the fall clothing expenses when I decided to buy that new flat screen”); to plan and shop with an eye toward saving (“I’m lucky to get all my groceries for the week, much less worry about how much I might save on bananas or toilet paper”).
Your ability to save is, of course, tied to how deeply you’re in debt. So before I set you up with a successful savings program, here’s a plan to get you out of debt and to spend less.
This article comes from the Spring 2009 issue of ADDitude.
To read this issue of ADDitude in full, buy the back issue.
