The risks of overspending and making rash purchase decisions are very high when we are manic and hypomanic through bipolar.
We asked three questions of those attending our July meeting. Here's a summary of people's answers:
1.What situations have a high risk of overspending when your mood is elevated?
Klarna makes it hard to keep track
Sales patter in shops is easier to fall for when impulsive
eBay - bidding for things when high
Cheap online stores like Alibaba
Buying rounds of drinks/shots
Small impulse purchases
Serious bankruptcy issues
Parking tickets
Credit card spending
Being overly/disproportionately generous, showing generosity of spirit
Gambling
Learning difficulties e.g. difficulties adding or subtracting can make things more difficult on top of bipolar
2.Do you have any action plans to avoid or minimise overspending?
24/48 hour rule - wait before buying online
Spreadsheet to track money in/out
Decreasing credit limits
Having a bank balance you don't allow yourself to go below
Keeping some savings in another currency
Not using credit cards
Using wishlists rather than immediately buying online
Having 2 bank accounts - one for bills, one for spending
Giving your partner access to your accounts (providing there is trust/no risk of abuse)
Using physical cash
Literally freezing your credit card in a block of ice in the freezer
Trying to think about the consequences of spending/exercising willpower where we can
Removing card details from online stores
Keeping a 'buffer' amount in your account
Requiring credit card to be manually, rather than automatically approved
Seeking help from the bank (banks are getting better at being more empathetic when mental health is involved)
Notifications on banking apps (e.g. to tell you you've gone below a certain amount)
Power of attorney
Apple pay settings (showing you your balance before you pay for something).
3.Do you know any reputable resources for advice & information on dealing with debt?
Take care with some debt consolidation services as they often charge a commission up-front.
Bankruptcy proceedings if needed
Help from banks
For a list of resources, please see the resources section of our website: