Budgeting, no easy task
One of the first steps to managing your finances is to create a budget that you can stick to. This will help you keep track of your spending and make sure you're not overspending in any areas.
Impulse spending is a common problem for people like us with ADHD. It's an ongoing temptation, but let's look at ways to tame our spending.
Make saving a regular part of your budget. Decide how much you can afford to save each month and make sure it's included in your budget. Start by saving small amounts and gradually increasing your savings as you can afford it.
If you're struggling to manage your finances, don't be afraid to seek help. This might include speaking to a financial advisor or taking a personal finance course.
To plan for retirement, start early by determining the amount you need to save and how much to save each month. Utilize employer-sponsored retirement plans and consider traditional or Roth IRAs.
An emergency fund is a savings account that is set aside for unexpected expenses such as car repairs or medical bills. Aim to have three to six months’ worth of living expenses saved in your emergency fund.
Shop around for the best deals before making a big purchase, do your research and shop around for the best deals. Take advantage of sales and coupons to save money.
Living below your means means spending less money than you earn. This can be achieved by creating a budget and sticking to it, and avoiding unnecessary expenses.
Technology can be a powerful tool for individuals with ADHD to help us manage our finances. Apps and tools such as Mint, Personal Capital, and Quicken can help track spending, create budgets, and manage investments.
There are multiple benefits to putting some of your finances on autopilot.