Hi Everyone, I'm new to this forum (not to ADHD though!)... I have combined-type, which as you may know can lead to chronic poverty. I read the chequebook topic and I want to share something with you - I read a budgeting article that was *made* for ADHD types. The key is it's a simple strategy that doesn't require much attention... It's worked for me (a hopeless impulse spender and general financial mess)
It goes like this:
Take your monthly income. Pay yourself (i.e. savings) 30% - split as follows: 10% long term savings (retirement, etc). 10% short term savings (vacations, christmas etc) 10% emergency fund (unexpected repairs etc - this money has to be accessible, so it shouldn't be invested in anything too complicated). Get the bank to take this money out of the account the day you get paid. You won't miss it.
The next 60% is for Committed Expenses - ANYTHING you've committed to - mortgage, rent, car, violin lessons for the kids, whatever.
The last 10% is for your FUN. ADHD purchases, etc.
This is the easiest way to have a life and still be able to retire one day. ADHD and living within your means! What could be better than that?
P.S. Another good rule for ADHD-ers. CUT UP YOUR CREDIT CARDS and never look back. Sounds extreme? Try it and see if you're not rich this time next year.