Stretching Your Dollar: How to Overcome Debt While Living With ADHD

<div class="block">A common struggle among adults that have been diagnosed with attention deficit/hyperactivity disorder is mounting debt. Ryan Mayer, ICF coach, joined Cheddar News to share how he overcame his own personal struggle with debt and how people suffering from ADHD can do the same.</div>

Stretching Your Dollar

If you've got a credit card and free time, it can be very easy to rack up debt, but hard to get out of it, especially these days. So it's even more difficult for adults with attention deficit hyperactivity disorder who are three times more likely to have debt according to the Guardian, that's where Ryan Mayer comes in. He's a certified ADHD coach personally overcame $33,000 of debt and he joins me now to tell us how Ryan, thanks for joining Kristen. So glad to be here. All right. So let's start from the beginning. How did you rack up $33,000 in debt? Was you mentioned earlier in your segment. There's a lot of students out there here in America with student loans and that was the main reason that I was racking that up and having credit cards too. So it's a big challenge for a lot of people, but as you mentioned, particularly those of us with a DH D. So when did you realize that this was a problem? And then how did you put a plan in place to overcome it? Well, there, I was in my mid twenties, I had everything made. I had a job, I had income and I had a girlfriend that told me one of her big red flags was my complete cluelessness around financial literacy. So that was my wake up call that I had to start taking a look at my finances. And it, as I look back, I noticed there's a lot of what I call fingerprints of a DH D, uh, where I didn't know until I realized that A DH D itself was part of the big challenge. Like all the symptoms that are part of it were the reason I was having those problems. Interesting. Ok. So let's talk about how you made the decision to get certified and start helping others with your own experience. Thanks. I mean, the reason that I'm even here today is the same reason why I became a coach is to be the help that I so desperately needed during the times when I was in debt because I didn't know where to turn. And so once I found out about a DH D coaching, I now get to help my fellow people who have a DH D to navigate the storms of life. What advice do you have to, those who are overwhelmed by their debt, Ryan? Well, Kristen, this is something that goes out there for anyone, regardless of their neuro makeup. And I say it's as easy as A A BBC C. So A A is acceptance and accountability. So knowing how you are, knowing that unless you get that accountability, you're just not gonna do it yourself because it's going to be overwhelming. And then the b part of it is get a ballpark budget. And yes, I said the B word budget but it's just an educated guess. And I think a lot of people are overwhelmed by that. It's easy. And last is stay calm because money itself is neutral. I think we attach a lot of emotions to it and just have a clear reason as to why you want to make the changes. Yeah, I like that. Money is neutral, I guess. So, try to strip out the emotions. Ryan, what's something that people struggling with debt should not do? So the biggest tips I have there, Kristen is one don't spend more than you make. Now, I know that that might sound obvious. But a lot of times people are looking to maintain an image of a certain lifestyle even if it's not in their best interest. Um And additionally to that, making sure that they are paying themselves first because many times people don't put money away for an emergency fund. And I know when Courtney was on there earlier talking about the air conditioning, my wife and I had our ac go out recently, so we had to have that emergency fund and a lot of people don't do that. Um And lastly is make sure that you are paying off one debt at a time so you can build that money momentum. Ok, good. Uh Last question when it comes to money and management. Uh Ryan, what do you think? Everyone should know? You should pack your lunch? That's my one tip because people don't realize how much money they spend when they're getting the hot lunch at work or going out. And so if you pack your lunch, you'll be amazed how much money you can save. Ryan saturate tips. Thank you for joining the show. Glad to help, to stretch the dollar. I like it. Helping many people stretch their dollar. Ryan. May I thank you for joining.