Daily Money Management for Adults with ADHD
Do you dread dealing with paperwork and bills?
Are you paying unnecessary late fees & overdraft charges?
Do you lose track of when things are due?
Is impulse spending creating out of control debt?
Can you find your bills when you need to pay them?
When was the last time you balanced your checkbook?
Adults with ADHD often struggle with organizing paperwork, controlling spending and paying bills on time. My background in accounting combined with my years of experience working with ADHD clients as a Professional Organizer make me uniquely qualified to help people with ADHD organize and manage their personal finances. As a Daily Money Manager, I provide personal financial services to clients who have difficulty with, or lack the time necessary to manage personal monetary matters. We offer a variety of services from sorting mail and paying bills to financial organizing and coaching. Whether you'd like us to handle everything for you or you'd like to share in some of the responsibility, we can create a plan that meet your needs.
Why is money management such a challenge with ADHD?
ADHD affects the “executive functioning” part of the brain. That is the part of the brain that involves planning, organizing, time management, focus, memory, impulse control and decision making.
If you don’t plan ahead then you may not have the cash you need to get your bills paid on time. You may do some quick mental math and estimate that you have enough to pay something only to find out later that you don't. This is when bounced checks and overdraft fees occur and late fees start to add up.
Organizing your finances can be a challenge. Where do I put the bills I need to pay? How long do I keep paperwork? Should I go paperless? What if I miss the email or forget when something is due? What is my password for this account? There are so many possible systems. Finding a system that works for you and committing to maintaining it are key.
If you don't set aside time to regularly review and pay your bills, then you end up paying things on the fly or in reaction to a crisis or, even worse, you miss the due date entirely. Once again...here come the fees.
If you have trouble focusing, then it is hard to sit down and pay bills in one sitting, especially when something more interesting catches your attention. Ever gone online to pay bills only to find that you have wandered off into social media or ended up doing some online shopping instead?
Do you leave bills or statements out so you will “remember where they are”? Chances are that strategy won’t work, especially when you continue to leave even more things out as “reminders”. Relying on memory to get bills paid can get stressful (and expensive) so creating an effective reminder system is crucial.
Impulse spending is an issue for a lot of people. We want what we want, when we want it, and we aren't necessarily thinking about the long term impact on our cash flow or our debt. The novelty of some new shiny thing is often too tempting to pass up. However, habitual impulse spending can be detrimental.
There a lot of decisions to be made when it comes to managing your personal finances from what bank to use to what credit card is best to what bills to pay. Analysis paralysis can kick in and researching and agonizing over what to do can prevent anything from getting done.
There are effective strategies to deal with all of these challenges. By working together we can develop a system that will work for you and we can provide the ongoing support and accountability you need to keep your finances in order. Whether you'd like some help setting up systems that you maintain on your own or you'd like to hire someone to do all the work for you, we can help. All of the Daily Money Management Services that we offer are detailed here: