Budgeting and Money with ADHD
Money has been a pretty hot topic for my clients this week and one that I think a lot of adults with ADHD and/or learning disabilities feel ashamed to talk about. Talking about money can be incredibly uncomfortable, scary, and overwhelming and I am right there with you. There is a lot to track, a lot to remember, a lot to balance and somehow everyone around you seems to understand how it all works but you might not. So instead of asking for help, you try and manage it all on your own because it's less embarrassing than someone judging you for decisions you made when you were impulsive just had to buy that cool new shiny toy for your newest hobby.
This topic often leaves me feeling anxious too but I have learned some ways to keep track of everything and pay my bills on time. So let me be your non judgemental older sister to walk you through some steps that might make this just even the slightest bit easier for you.
I always say that we can’t solve a problem if we don’t know where to start. So hear me out because I know this is going to be really uncomfortable and you’ve likely been avoiding this very important step but we need to start by laying it all out.
There are 2 apps that I want to tell you about so you can see the big picture and all the little details at once. Think of this as crap in first crap out. If you don’t take the time to add in the information properly you are not going to get the most out of the tools themselves. When you do take the time to set them up with all of your information you will get information to help you budget, save, track information and really understand your spending.
I personally use the site Mint.com and also have many clients who like to use (You need a budget) YNAB.
Here is the difference between the two to help you simplify your decision-making. Based on your needs you might prefer one over the other.
MINT.com
FREE
Everything in one place because it connects to all of your bank accounts, credit cards etc.
Gives you your credit score.
Offers other financial tools and insights on possible investments and courses.
You make your own goals and customize from there.
Set it and forget it approach. Once you setup the budgets it will send you updates and reminders to pay bills (if they are not on automatic payments)
YNAB
FREE and Paid Versions. Personally think if you use this tool using paid version is the only way to go to continue to get accurate descriptions
Strictly for budgeting
Holds you accountable if you are over your budget and will keep alerting you to check it out.
Simple interface and very simple to set up.
Customization of every single dollar you have
Once you add your information to the app you prefer, I want you to take the time to set it up based on all of your needs. You will get a breakdown of your spending/income with staples and whatever else you spend money on. I want you to analyze each so that you know it's categorized properly. This might be the first time you are seeing all of it at once.
If you are overwhelmed it’s okay if you need to walk away for a little bit. But when you come back, I want you to look at each category and see if there is anything you could or would do differently.
Now it’s action time: make 3 small attainable and achievable goals for you to complete this month.
Examples could be:
I’m going to set reminders to pay my bills on time and follow through with the reminders.
I’m going to carefully think about how I can spend $50-$100 less in each category.
If I want to impulsively shop, I’m going to pause for a moment and think about 5 reasons why I NEED this item right now.
Now that you’ve set your 3 attainable goals, set a time with yourself and check-in (set the date in your phone now with a reminder!) and reflect on a few questions.
What did you notice about your spending?
Did you accomplish your goals?
Were your goals more or less challenging to implement than you expected?
I’d love to hear if these tips helped. I know it can be a lot to digest so don’t forget to take your time. Send me a message to let me know!
