You've been working hard on your finances, but you have kids who love to spend money almost as wildly as you used to. How do we teach our children about money?Below are age-appropriate ways to raise a financially responsible child, including some of my favorite tips.Toddlers: Lead by ExampleChildren learn by example, and their most influential role models are usually their parents. …even parents like you and I who have ADHD.You can't teach a toddler how to budget. However, they will learn by hearing what you say and observing your behavior. Studies have shown we've developed a basic understanding of financial behavior as early as age 7.It's never too early to start talking about money with our kids, so lead by example.First to Fifth GradeWe know money doesn't grow on trees, so kids need to learn where money comes from and how to earn it. Earning an allowance doing chores is a great way to excite kids about money. A piggy bank or lidded glass jar is an excellent tool to see how much money they're saving and help them learn to save up for things they want to buy, thus avoiding impulse spending. Sixth to Eighth GradeBy middle school, kids have a pretty good understanding of money and can grasp the concept of a career and a paycheck. Help them by explaining the difference between salary versus what you take home due to taxes, Social Security, insurance premiums, and other standard deductions.Jump$tart Coalition created national standards for educators to set financial literacy goals. Their recommended benchmarks by eighth grade include:Set priorities to reflect spending goals and valuesDiscuss the components of a spending plan that includes income, savings, and expensesCompare saving strategies, including "Pay Yourself First" and comparison shoppingIllustrate how inflation and interest can affect spending power over timeJustify the value of an emergency fund High School Teenagers look for and need new levels of independence. Many of the lessons at this stage are firsthand experiences with a checking account and budgeting for college. Personal checking and savings accounts don't establish credit; they show how to handle finances. A checking account is all a teenager should need, but it’s also good to have a savings account to witness the impact of compound interest firsthand. Credit cards are another big lesson for our teens. Teenagers must learn the dangers of credit cards and how to use them wisely. Teach them to pay off the balance each month and avoid buying things they can't pay off. The Importance of Being Benevolent Charitable giving helps kids understand the impact money can have on others. Here’s a tip: Have your child use three piggy banks for saving, spending, and giving. Each time they receive money, they split the cash between the three. Ask what they plan to do with each amount to prepare how they'll use it. You could also further incentivize them by matching the money they save, much like a company 401k.Investment Accounts Teach kids about investing and compounding. Talk about their favorite toys or gaming systems, then show how to invest in the companies who make those items. They learn how they're not only an owner of the product, they're investing in the company that makes it too! Resource links:Jump$tart Coalition for PersonaFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

After working hard to budget and save money the majority of the year, summer is a reward we give ourselves. Summer represents fun in the sun and vacations, spending that hard-earned money. Having ADHD can make it harder to resist some of those temptations. However, here are ten fun and easy ways to enjoy your summer.1. Set a summer budgetThink about all the things you are doing this summer, then plan out your budget in all categories for each month to make room for those expenses.2. Use cashNow is a great time to switch to a cash-based budget for the summer. Put those credit cards away and use a debit card. Some banks offer a rewards cashback debit card, so check your local bank.3. JournalKeep a spending journal visible in your home, like on your counter. Physically writing down what you buy and how much you spend will keep you aware of your purchases and lead toward more intentional spending.4. Cancel expenses you don't needCancel subscriptions or streaming services indefinitely or temporarily, and return to them when summer is over.5. Use your Flexible Spending AccountIf you have one at work for qualified expenses, remember to use it and not risk losing any balance you've accrued.6. Turn off/down the air conditioning when leaving the houseIf you have animals, adjust the temperature to a comfortable setting while away, then you can adjust it to your comfort when you return home. Using a smart thermostat can help facilitate this to help you manage your energy usage.7. Find free, fun things to doSave money in your entertainment category by looking for free events in your area, whether it be free days at a museum, free concerts, festivals, or nearby parks.8. Pack your lunchYou will save a lot of money with this one small change, and you won't feel as guilty when you spend money going out with friends or family for meals.9. Find a flexible side hustleEarn extra cash by walking dogs, driving for Uber, mowing lawns, or babysitting. You will enjoy doing something to help fund the rest of the fun for the summer.10. Take your vacation at the end of summerPeak season is the most expensive time to travel. In mid to late August, prices are much lower when travel demand declines due to students returning to school in the fall.I hope these suggestions allow you to enjoy your summer vacations without the guilt of spending money.Want to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyHelping ADHD'ers unleash their financial potential through planning and coaching.DeWittCM.com/adhd to book free discovery sessionFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

The brain of an ADHDer like me switches to the off position when we think about saving, budgeting, investing, and planning for our future.Turning our finances into a game can help.What makes you want to keep playing your favorite game? Is it leveling-up? Unlocking new quests? Working towards a defined reward? Add game-like elements to make the hard things more fun and rewarding. Gamify your investing.McDonald's uses gamification via their Monopoly game to encourage customers to buy more. Buy a medium drink, not the small one, and get a monopoly game piece. It's fun to try and win and makes us feel like we're in control.Apps to Gamifying Your FinancesBelow are a few apps that could help make money more fun:1. Yotta is an FDIC-insured bank account. For every $25 saved, you get a lottery ticket each week. So if you have $100 in your account, you get four tickets that week and four tickets the following week. Each day, there's a drawing to see if you've won.2. Zogo earns “virtual pineapples” by engaging you with educational modules. Exchange virtual pineapples for gift cards and charity donations.3. Digit is a cash-bucket budgeting approach where you have two checking accounts: one for fixed expenses and the other for the money you have free to spend. It looks at fixed expenses and automatically sets aside money for you. #gamification4. Qapital allows you to visualize and set up savings goals. It also lets you budget and invest using a feature where you can do things with a partner or significant other.Gamify Your Finances Without TechnologyYou don’t need a fancy app to gamifying your finance:5. Design a competition for yourself How little can you spend? What can you do to spend as little as you possibly can? How fast can you pay off your debt? Make it a challenge and reward yourself at the end to keep you motivated.6. Include your friends and familyInvolving your friends and family in the competition revs up those competitive juices, especially for those who love competing. Having someone else doing the same thing as we are where we have to beat them helps us reach our goals faster. 7. Make your rewards reasonableDon't make your rewards too big. You don't want to reverse your progress, even if it's something as simple as a night out with a significant other or a guilt-free dinner night.8. Budgeting Tetris Create a Tetris board where each square is $100. Fill up the board with your fixed expenses. Then you can visualize, using different colors and crowns, how much money you have leftover after you fill-up the board with your fixed expenses—shoutout to the Stacking Benjamins podcast for this great idea!Visit the show notes for links to all the resources mentioned at https://www.adhdmoneytalk.com/021Want to work with me?Check out my ADHD Planning & Coaching serviceHelp Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Review on AppleReview on my websiteFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

ADHD makes managing money hard. It requires a lot of starts & stops, trials & failures, recovering, bouncing back, and resilience.We may intellectually understand why managing your money is essential, but when it comes to implementing a plan, we hit a wall.That was me too.My Story: Digging Myself Into a HoleMy first job after college was as a mutual fund accounting analyst. I became hyper-fixated on becoming a wall street stock analyst.I studied to get my chartered financial analyst (CFA) certification, and passed level one on my second try.However, I couldn't quite finish the other two. I was burned out and no longer motivated.A new hyper-fixation popped up in the comedown of passing the level one exam; I decided to buy a house.One year into working as a financial advisor, I was focused exclusively on investing. I wasn't operating as the comprehensive planner I studied to be, and fully furnished my home all on credit....in one day.“No interest for 24 months”. Who could resist?Further big purchases included a golf simulator, gear, lessons, substantial grocery bills, subscriptions, and landscaping.  I was out of control.Amid my spending frenzy, I told myself I would be making way more money, and everything would take care of itself. But it didn't. I depleted all of my savings and built up an enormous amount of debt.To make things worse, I started dipping into my investments. It all backfired.Digging Myself OutSo how did I get myself out of the mess? First, I read everything I could find about ADHD.The new knowledge helped me acquire healing and self-acceptance, which allowed me to feel worthy of having a solid financial situation.I pursued my CFP certification once again, tracked my spending, and sacrificed things to regain control.To reduce my expenses $1,300 a month I sacrificed:$450: Country club membership$400: Meal kit deliveries$300: Shopping at different grocery stores$100: Subscriptions and lowered my cable package$60: Spa treatmentsI also stopped buying golf equipment, accessories, and clothes. The feeling of control was more rewarding than having things.Where I am TodayThrough sacrificing and making adjustments to my life, I am now out of debt and have savings.I also regularly contribute to my investments!All the sacrifices helped me developed a "spending awareness muscle" to repel the urge to spend when I see it creeping in.I hope my story helped you. ind a way that works to get fired up about having a budget. Visualize your dreams, and make them feel real in your ADHD brain. Recommended reads:Delivered From Distraction: Getting the Most Out of Life with Attention Deficit Disorder, by Dan CashmanADHD 2.0: New Science and Essential Strategies for Thriving with Distraction - from Childhood Through Adulthood, by Edward M. HallowellPermission to Proceed, by David GiwercTaking Charge of Adult ADHD, Second Edition: Proven Strategies to Succeed at Work, at Home, and in Relationships, by Russell A. Barkley PhDFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Navigating Stressful Times in an ADHD DivorceResearch has shown people with ADHD are twice as likely to be divorced or have more than one marriage than those without. If you have ADHD, divorce can be extra messy and emotional. You owe it to yourself, and deserve the clarity, knowledge, and support needed to come out of a divorce knowing you got what you deserve.Learn about "My Divorce Solution"In this episode, I speak with Karen Chellew and Catherine Shanahan - who founded My Divorce Solution after their own experiences with divorce. Karen is a mother of three and has worked for over 30 years in the legal field as a paralegal and business manager. Catherine is a mother of five, a Certified Divorce Financial Analyst (CDFA), a trained mediator, and has worked in the financial industry for 25 years.Know the Components of Your Marital EstateA marital estate includes assets, debts, income, and expenses. Debt and expenses are two different things, so it's essential to focus on your budget and clearly understand your expenses.Be aware of marital and non-marital components - and have them documented!Developing a Divorce Financial PortraitA divorce financial portrait is a very structured, step-by-step approach, educating a client through a 'launch meeting’, which covers:•What is essential in their marital/non-marital estate•Developing and reviewing their budget•Using an online portal to organize a timeline and track the overall process•Access to a journal where you can message your advisor and where you can make notes to yourselfThe Benefits of Having a Financial SpecialistThe divorce financial portrait includes a net worth statement, the person's budget, the financial disclosure, the marital and non-marital demonstration of property, and a table of considerations, which takes every asset and debt and even some income and expenses.For example: When negotiating the division of the marital home...•Are you going to sell it or refinance it?•Which party is going to stay?• Who will be paying the expenses in the meantime?When you have the answers to these questions upfront, your attorney can advocate for you.The divorce financial portrait helps them discuss what they want very specific to their cash flow needs, the tax impact, and other financial considerations.Another benefit to having a financial specialist is not needing two attorneys to gather the same information, which streamlines the process and provides symmetry among the documentation.Asking Questions is Not Being QuestionedYou have a right to ask questions during your divorce. You deserve to have financial awareness because financial awareness will set you up for having freedom, moving on, and healthier relationships.If you're interested in more information about the divorce solution, visit https://mydivorcesolution.comWant to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Click here to leave a review on AppleClick here to leFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Investing in the ADHD-Friendly WayThe term ADHD-friendly means intuitive and low stress, so new investors will want to select the right investment company.  After researching companies providing various automated investing services, I found one that struck me as very ADHD-friendly, covering all the bases. The service is intuitive for both novice investors and seasoned participants looking for a simplified, automated service to manage their money.In this episode I walk you through the process of setting goals, opening an account, how to select investments, tweak the portfolio options, and ways to fund the account.This will conclude our three-week series on investing. I hope it has helped you start thinking about investing responsibly. If you have any questions, please don’t hesitate to reach out!Want to work with me?Check out my ADHD Planning & Coaching serviceJoin My Facebook Group!Help Me Out!If you enjoyed this podcast, the best way to help me spread the word is to leave the podcast a genuine review on Apple Podcasts! If you don't have Apple, leave a review on my website, or give me five stars on Spotify.Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyConnect with me!InstagramLinkedinFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Successful long-term investing is not so much about the tax treatment of your account or which investments you select. Those things are important, but they pale in comparison to the most critical variable of investing. That's what we will talk about today.  Want to work with me?Check out my ADHD Planning & Coaching service.Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Today we are going to talk about 9 key investing principles and concepts that every beginner (or pro) investor should understand.I have been fielding more and more questions from clients about how to get started investing, and so I thought it was a great time to roll out a few episodes on the topic. It is important to me that fellow ADHDers that don't have investing experience understand some key concepts and principles before they embark on an investing journey so that they are prepared for success. Want to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me spread the word is to leave the podcast a genuine review on Apple Podcasts! If you don't have Apple, leave a review on my website, or give me five stars on Spotify.Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyConnect with me!InstagramLinkedinFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

In this episode I talk all things lifestyle creep through the ADHD lens!Join my Facebook group!Want to work with me?Check out my ADHD Planning & Coaching service.Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

It's time for a new car. Should you lease or should you buy? In this episode, I'll talk about the differences between the two options and confess my preference. I believe one option is more ADHD-friendly than the other. Outline of the ShowYour old car is breaking down! [00:45]Buying a car [3:36]Used vs. New [6:40]Leasing [8:47]Join My Facebook Group!Want to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me spread the word is to leave the podcast a genuine review on Apple Podcasts! If you don't have Apple, leave a review on my website, or give me five stars on Spotify.Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyConnect with me!InstagramLinkedinFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!