Managing money can be a real problem for those of us with ADHD.
We’re impulsive and risk takers, we don’t always pay attention or focus on what’s important.
That can add up to trouble when it comes to managing our finances.
Credit card bills, overdue bills with late charges, even overdrafts or bankruptcy are all real possibilities when it comes to money and ADHD.
So who manages the money in your house? And if it’s you, how are you doing?
Are the bills caught up? Do you have a savings account with a positive balance? Do you stress over money? What about your shopping habits? Do you have a budget?
I have to confess that I am somewhat confused by budgets. I understand that they are a plan for managing your money and they help you stay on track, but putting that into practice is just more than I can manage.
I do know what we spend each month and how much the bills are likely to be, and we do have a savings plan, but I still feel as though I could do better if I could just understand the whole budget thing.
If you have someone who manages the money in your house and does a great job, congrats.
If you’re the one doing the money management thing, here are some things that might help:
Mint is one site I’ve heard a lot of good things about. It’s free, it links up to your bank (or most anyway), and it helps you see where your money is going each month. That’s great if you’ve got a lot falling through the cracks or even better if you don’t realize you have a lot falling through the cracks.
Dave Ramsey has an entire program to help people pay down their debt, save money, and manage what they have more effectively. I’ve heard nothing but good things about this program. There is a cost to take the classes, which are typically held in churches.
Moneymunk has a back to basics article, including a budgeting calculator, that is sure to help you get started on the right foot.
Mvelopes is an online money management program based on the envelope method – the old fashioned way was to have an envelope for each monthly expense and then put money towards that expense each pay period. This way does it online. This one also hooks into your online bank account. There is a monthly fee for this service.
YNAB or You Need a Budget is also a well respected money management program. You purchase the software for $60 and have access on mobile devices as well as your home computer.
There are lots of sites out there to help you with better money management. My personal suggestions would be to cut up your credit cards – or at least freeze them in a big block of ice – seriously, try having more home made meals and less eating out, and planning for an errand day to save gas.
How do you manage your money?