ADHD Money Talk David DeWitt

Discover the interplay between financial coaching and the unique challenges that come with ADHD as I bare all in a transparent reflection of ADHD Money Talk's journey. Step into the heart of my endeavors where I grapple with balancing the creation of engaging content and the depth of client work, all while evolving my business to meet the diverse financial needs of those with ADHD. As we navigate through the lessons gleaned from two years of coaching, I'll share with you the psychological insights that play a crucial role in managing money and how personalized financial advice varies among clients with different incomes and organizational abilities.

Join us as we revisit the tools that have shaped budgeting advice for those with ADHD, from the early days of the Honeydew app to my current favorites like Monarch and Tiller Money. But it's not all about the tools; it's also about fostering a thriving money mindset. Hear recommendations for resources that can deepen your understanding of the psychology behind money and why it's vital to engage with your finances daily. And if you're a fan of Twenty One Pilots like me, you'll appreciate the nod to their upcoming releases, which hint at the fusion of personal interests with professional insights in this episode.
Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
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Ever feel like Uncle Sam is reaching too deep into your pockets? We've got you covered! On today's lively episode, we're unraveling the complex world of taxes for our ADHD community, tackling a tough question from Yvonne in our ADHD Money Talk Facebook group. She's got a state pension and a 403(b), but no 401(k)—so how can she keep a tight grip on her hard-earned cash? Fear not, because we're not just spewing generic advice; we're serving up educational insights that just might spark some genius tax planning strategies for you.

We kick things off with a candid reminder to look at the big financial picture—because tunnel vision on tax reductions can lead to missed opportunities elsewhere. It might sound paradoxical, but we explore why paying more taxes now could actually save you a bundle in the future, especially if you're eyeing a higher tax bracket with a looming promotion. We'll guide you through the ins and outs of Roth IRAs, 403(b)s, and the often overlooked aspect of tax planning over mere tax minimization. Whether you're juggling a state pension or just trying to outsmart the taxman, this chat is locked and loaded with the financial firepower you need to potentially lower your taxable income and secure a wealthier tomorrow.

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Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
Subscribe to the ADHD Money Talk Newsletter!

In this episode, we dive into the brain's role in financial decision-making, with a special focus on individuals with ADHD. We follow the story of Jordan, who grapples with typical financial decisions, such as whether to make an extra mortgage payment or invest in stocks. Experts like E Sonuga-Barke, G Fairchild, and A Stringaris provide insights into the unique challenges faced by those with ADHD.
We examine how the default mode network, essential for planning and self-reflection, and the amygdala's reward-seeking behavior contribute to impulsive financial decisions that can impact long-term stability.
The episode explores the workings of the ADHD brain, particularly the prefrontal cortex's role in controlling attention and impulses, and the interactions of the frontostriatal and frontoparietal circuits. We also discuss the crucial functions of the anterior cingulate cortex in emotional regulation and the orbitofrontal cortex in error detection, offering a glimpse into the ADHD brain's approach to financial planning.
By the end of this episode, listeners will have a deeper understanding of the complexities of the ADHD mind and the strategies that can assist in navigating the financial challenges associated with it.


Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
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Ever wondered how to keep your holiday spending in check while living with ADHD? If so, this heart-to-heart conversation is for you. We're tackling the challenging dance of handling personal finances during the festive season, particularly for those of us with ADHD. This episode promises to provide you with tools to combat the cycle of impulsive spending and the aftermath of regret that often sets in once the celebrations are over. We're going to walk you through a quick and effective 20-minute planning process that respects our need for spontaneity without letting our finances run wild.

Let's take a turn and inject some fun into holiday shopping while also imparting financial responsibility. We'll introduce you to the joy of cashback services such as Rakuten and Swagbucks. These are not just entertaining, but they also make shopping at a myriad of retailers an economically sound choice. You'll get a taste of the thrilling reality that is cashback percentages from various retailers and how these services can substantially pad your savings. 

Lastly, we're handing you a survival guide to navigate the tumultuous festive shopping season with ADHD. Be prepared to unearth the significance of setting and adhering to a budget, making the most of cashback services and discount codes, and celebrating your financial victories in the new year. We're here to empower you to overcome the tendencies of impulsive spending and jumpstart the new year with a positive financial outlook. So, join us as we embrace our ADHD, keep things fun, and aim for awesomeness!
Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
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Ready to tackle the chaos of Black Friday shopping with an ADHD twist? Buckle up as we navigate the bustling aisles and virtual carts, unveiling the unique shopping personas you may embody with a sprinkle of ADHD. From the unchecked dopamine chaser, caught up in the frenzy of discounts, to the overwhelmed wanderer, feeling lost amid the flurry of sales, we've got you covered. But that's not all - even if you're the hyper-focused hunter, laser-focused on the best deals, we celebrate your frugal side and offer strategies to enhance your shopping experience. 

In this riveting exploration, we also zoom into the myriad of shoppers you cross paths with on Black Friday. Ever met an over-analyzer deal analyst, who scrutinizes every purchase, or encountered a regretful rusher, who operates on shopping adrenaline? Let's not forget the adventurous browser, basking in the thrill of in-store treasure hunts. No matter if you're an impulsive shopper, an overwhelmed buyer, a last-minute procrastinator, or an indecisive shopper, we bring you tips and laughs tailored for your persona. So, gear up for an insightful, humorous journey through the world of Black Friday, ADHD style!
Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
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Does this sound familiar? Have you been told to simply focus harder or try harder to achieve financial success with your hobbies, only to feel frustrated and overwhelmed? It's time to break free from ineffective actions and the pain of not getting results. Starting an LLC can unlock the power of your ADHD hyperfocus, protect your business, streamline your financial management, boost your confidence, and provide you with a step-by-step guide to turning your hobbies into profitable ventures. It's time to take control of your financial success and unleash the full potential of your passions.

In this episode, you will be able to:

Unlock the power of ADHD hyperfocus to achieve financial success.
Discover the benefits of starting an LLC and how it can boost your profitability.
Learn how to separate your personal and business finances to streamline your financial management.
Gain a better understanding of the psychological advantages of starting an LLC and how it can boost your confidence and motivation.
Follow a step-by-step guide to starting an LLC and turn your hobby into a profitable venture.

The key moments in this episode are:
00:00:00 - Introduction: ADHD Brain and Hobbies
00:01:10 - The Power of Hyperfocus
00:03:43 -  Brainstorming Business Ideas
00:07:46 -Understanding LLCs and Sole Proprietorship
00:09:52 - The Role of LLCs in Taxation
00:13:50 - Benefits of Starting an LLC
00:15:17 - Clear Separation and Accountability
00:16:21 -Psychological Boost of Starting an LLC
00:17:38 - Steps to Starting an LLC
00:21:48 -  Starting an LLC is Attainable
Financial planning and coaching for adults with ADHD
ADHD Money Talk on YouTube
Subscribe to the ADHD Money Talk Newsletter!