Managing our finances can be a struggle for various reasons and for a lot of people, ADHD or not.
As much as it may seem little way to get on top of it, there are ways to improve our financial situation. Ways to save money, get out debt, and such.
Here are some ADHD-friendly suggestions and things you can do to manage your money.
List Your Problem Areas
A good place to start is by writing down a list of all the things you struggle with when it comes to money.
Is it bounced checks? Paying bills late? Impulse spending? Huge debt?
Whatever it is, write it down. Doing this can help you know exactly what you struggle with financially and gives you a started point to find solutions.
Creating a Budget
Creating a budget can take time and some work and effort. It may not be easy but can be helpful.
So here are some steps to help you create a budget. This is one that from an article in Additude magazine.
First is to grab all of your expenses and income. Write it all down. Find all the bills and such.
Step two is subtract expenses from your income and you can see if you have any extra money left over.
Third step is put due dates on a calendar. I would say put it somewhere you can see, like on your fridge, for instance. Somewhere you won’t miss. This can help you remember and clearly see when things are due and need to be paid.
The last steps they suggest is to track your expenses and monitor your cash flow. This can help you know exactly where your money is going and know exactly how much you have left.
I feel like this is a good place to start when it comes to creating a budget. Nothing to complicated.
Track Spending
Okay, so I know this is something I mentioned, but it is a tip that many have suggested while researching.
It’s not something that many want to do. It can be boring and tedious.
However, this can help you know exactly where your money is going, what you’re spending it on, how much your spending, etc.
For those who really want to get better at managing our money, this is something to consider.
There are different ways to do thing. The good old fashioned pen and paper is one. You could even write it down on your phone. Excel is another for those who may want to do it that way. Sometimes your bank may be able to track it for you and you can just look at your banking app or statement.
Either way, it is beneficial to do and something I’ll try and keep better track of.
Seeking Professional Support
It can be useful and helpful to seek out some professional help. It could be an accountant, bookkeeper, or even an ADHD coach who specialized in money and finances.
If it’s something that is possible for you, sometimes getting some help from a financial expert can be helpful. Having another set of eyes, their knowledge and advice can make quite a difference.
Find the Right Tool For you
There are a lot of different apps and ways to help you budget, save, and improve your financial situation.
There are apps like YNAB that I’ve seen recommended for those with ADHD, for instance. There are so many different options.
With all the options out there, it can be difficult to know where to start.
I think the best thing to do is start by trying one thing and see if it works for you. If it does, great! If not, time to find something else. It may be a lot of trial and error.
It may take time, but in the end, it may be worthwhile.
