Friday, February 27, 2015

How to Talk about Money: Ten Tips for Calm Conversation




Talking about money is one of the most difficult conversations that couples have. Statistics indicate that money problems are a primary reason for divorce. I have talked about the issues that make it difficult for ADHD individuals to manage their money here and here. Trying to explain to your partner some wacky impulse purchase that made total sense at the time is a set up for bad feelings, accusations, and disagreements.

Talking about how to spend money can be fraught with judgement, and if one partner has a higher income the conversation can be very uncomfortable. If you are going to survive as a couple, you have to find a way to talk about your money, how to spend it, what to save for, and how to handle debt. This is important even if you keep your money separately. Here are my top ten tips for a constructive money conversation.

1. Have the conversation in a neutral environment where each of you feels safe. Ideally the environment will not include children if you have them. You want to be able to focus and really hear each other.

2. Listen! Listen to each other without judgement. Listen, without forming your response in your head. The moment you start thinking of your answer/rebuttal you stop hearing what the other person is saying.

3. Keep the discussion in "I" phrases. For example : "I am worried that we are not saving enough to retire." Do not blame. It is pointless. Focus on the now, not the past.

4.  Bring all the numbers with you. Make a list of everything you owe and all your resources so that your are not talking about nebulous numbers. This is most important if one of you is the only one who pays bills and handles the banking.

5.  Remember that no one is a bad person because they have poor money management skills.

6.  If impulse spending is the root cause of your problems, create cooling off mechanisms and spending agreements. For example: No one spends more than $100.00 on non-food items without discussing it with the other person first.

7. Agree to have regular meetings to discuss your money. Yelling at each other as you pass in the kitchen does not count.

8. If you find that no matter what you can not have a civil discussion about money, you may need to involve an outside party. This could be clergy, an accountant, or similar, non-family, neutral party. It is essential to have an individual present to help facilitate the discussion who is not invested in how you spend your money.

9. Remember to breathe. We do not come into this world automatically knowing how to manage money. It is a process. Take advantage of resources, many of them free, that are available to learn how to manage your money. Learn together.

10. The best way to start any money meeting is to remember why you became partners/spouses in the first place.













Thursday, February 19, 2015

When it All Feels Like Too Much


My brain feels like this.

I often feel like this in February. The thrill of the New Year is over. It is usually so dang cold that going outside even for a few minutes feels overwhelming.  It is the time of year  when I start to question my ability to get it all done.

This is when it is time to step back, take a minute and remember the why of my goals. If you missed my post on setting goals, you can read it here .  Are you feeling the same way? Statistics suggest that at least half of the people that make New Year's resolutions or goals abandon them after eight weeks.

Here are five tips to get back on track when you fall off the goal wagon:

1. Do one thing each day towards your most important goal. It does not have to be a huge thing, just do one small thing. Write one sentence if that is all you can manage, but do it. Set a timer for ten minutes and do as much as you can in ten minutes. If you are in a grove, set it for another ten minutes. The hardest part of momentum is getting started.

2. Get inspired again. Pick a theme song or make a play-list for working on specific goals. The play-list becomes your cue to get to work. I talk about the role of music in creating a habit of work in this post ,  and the prolific writer Megan Hart talks about the role music plays in her work habits here.  Make that play-list or pick the theme song. It will signal your brain that it is time to work.

3. Get off Social Media. You heard me. Take a break. Set limits. Do not compare your life/ achievements/ publishing record/ accomplishments to other people's carefully curated life.

4. Review your goal plan. Do you need to rethink and re-plan? Has your life changed? Is the goal not important anymore?  Do you want to accomplish something else? Do not be afraid to abandon a goal if your life has changed dramatically. A new job, illness, birth, death, relocation, financial status changes may mean that you need to reexamine your goals and make a new plan.

5. Be gentle with yourself. Feel your feels, then get back on the bus and get going toward your goals.

When you are feeling overwhelmed, sad, frustrated, or confused : Jump into whatever creative thing feeds you with both feet.





Friday, February 6, 2015

Money for the Distracted: 10 Ways to Curb Impulse Spending





This is my second post in the money series. In my first post about money and ADD/ADHD, which you can read here if you missed it, I talked about how managing finances is difficult for people with ADD/ADHD.  A disclaimer, I am not an accountant, financial advisor, or economist, these are just some basic suggestions to organize your money life so you can feel more stable in how you handle money.

Many people struggle with impulse spending. It is even more difficult for people with ADD/ADHD, because we can jump into extravagant spending sprees, all in the name of a project related to house, food, kids, hobby, new job, etc. and be in debt up to our eyeballs before we know what the hell just happened.
I am not talking about a candy bar at the check out.  I'm talking about an entire library of books, a workshop full of tools, a new work-out wardrobe, a new house, kind of impulse spending. I talked about how hard yard-sales are for the distracted here.

So here are ten things you can do to stop impulsive spending:
1. Have a plan before you go shopping. Make a list. This is the hardest part: IF IT IS NOT ON THE LIST DO NOT BUY IT.  Really, do not buy it. Even if it is a great deal. Walk away. It is not a great deal if it was not on the list. This the only way to stick to your plan.

2. Take one-click shopping off of your phone. While you are at it, take the shopping apps off your phone. Randomly scrolling through shopping apps because your are bored, tired or can't sleep is bad. It is the new version of infomercials that convince you that you NEED to spend $500.00 to loose weight/be a millionaire/ grow hair/ juice/ have a beach body, etc.  If you have to actually log in to a desk top computer or tablet to shop it will slow you down.

3. Delete your credit card information from the sites that are weaknesses, whatever that is, shoes, clothes, books, or the everything store. Again this will make require that you locate your credit card and then enter the information to make your purchase. This will buy some time for you to THINK about the purchase.

4. Before you spend anything that is not food or essential, ask yourself: Is this moving me closer to my goals? If the answer is no, the complete collection of the Crocodile Hunter on DVD is not going to get you closer, do not buy it. If your goal is to save money for a trip/vacation/emergency fund/house, etc, impulsively spending money will not get you there.

5. Find free alternatives to feed the need to acquire objects. Get a library card. Use it. Filling up a bag with books, Cd's, and DVDs can feel like shopping.  The best part? You can take them back and do it all over again, for free!

6. Although some folks advocate cutting up all your credit cards, and going to a cash only system, I live in the real world, and I like to travel. Having a credit card makes it so much easier to travel. To curb impulse spending with your credit card, leave it home, (in a safe place where you can find it) when you are in your hometown. If you want whatever it is that you were going to buy bad enough to go all the way back home, find your credit card and then drive back to the store to buy the item, then you have given yourself some time to really think about the purchase.

7. Set a monetary limit for purchases that have to be discussed with another person. This person will need to be someone who will not get on the impulse train with you. It may seem silly for a grown person to have to talk to someone about their purchases but having to explain why you NEED the complete DVD collection of  the Golden Girls will make you think about twice about buying it.

8. Avoid the trigger stores. You know what they are. Bookstores, hardware stores, shoe stores, clothes stores, anywhere you could spend all day and your next paycheck. Do not go. If you do visit one of theses money-suck stores leave everything but cash you can spend behind. No debit card. No credit cards.

9. Write the word Think! on a sticky note. Place it on your credit card. Alternatively you could put a picture that represents you money goal on the front of your credit card, use whatever will remind you to stop and think before you spend.

10. Have someone else shop. This will not work for everything and every purchase but if your weakness is the grocery store, make a list and send someone else. Use an on-line service if you do not have a partner or friend who would do this for you.  if you are someone who routinely overspends at the grocery store, the money you would spend on the service will be off-set by the money you spend on impulse purchases.

I hope these help. The key in all of this is to find a way to give yourself time to think and decisions that support your money goals.  I have used each of these tips at one time or another. They do work. Remember to be kind to yourself. If you get discouraged go back and read the first post in this series.