How to Manage Your Money with ADHD

Managing money can be a challenge for anyone, but for ADHD brains, the process often comes with added challenges. Impulse spending, difficulty staying organized, and procrastination can wreak havoc on our finances. But, with the right strategies, it’s entirely possible to build financial habits that align with ADHD-friendly approaches. Let’s jump into an overview of key steps to take if you are and ADHDer looking to make some changes with how you are managing your money. Please not that I’m also going to drop links to additional resources to dive deeper into specific topics.

Understanding Your ADHD Money Challenges

The first step to managing money is recognizing how ADHD impacts financial habits. For many, ADHD traits like impulsivity and difficulty following through can lead to issues like overspending, late payments, or underestimating expenses. Knowing these tendencies is empowering; it allows you to create systems that work with your brain rather than against it.

If impulse spending is something you’d like to work on, check out: Mastering Impulse Spending

Create a Simple, ADHD-Friendly Budget

Traditional budgeting methods can feel restrictive or too detailed. Even an ‘easy to manage’ system like the 50/30/20 rule can leave us feeling like failures because we can’t ‘stick to them’ or ‘do them right.’ Instead, consider how to customize a plan that includes money for the things you love and what you know about yourself and your priorities. One thing I focus on with my clients is creating a plan that aligns with the life they want to live and finding systems that help them implement their plan into their lives without a lot of extra work each week.

Let me try to change your perspective on budgeting, which has truly been life-changing for me! 

Automate to Minimize Procrastination

Automation is a game-changer for ADHDers. Set up automatic payments for bills, savings transfers, and investments. This reduces the chances of forgetting due dates or feeling overwhelmed by decisions. Pair this with calendar reminders and/or an accountability buddy for reviewing your finances weekly or monthly, and you’ll be on the path to big impact without spending hours each week!

I’ve got lots of tips and guidance on budgeting with ADHD in this blog post!

Debt Management

Looking at our debt number is very common because we feel shame and overwhelm when we think about it. The truth is that ripping off the bandaid and understanding where we are right now can actually start to life the weight off of our shoulders. When we are in avoidance mode our minds can build it up to be worse than it is. Understanding your numbers is also the first step to working on changing them.

Focus on building a plan to work on your debt. Consider strategies like the debt snowball method (paying off the smallest debts first for quick wins) or the debt avalanche method (prioritizing high-interest debt). ADHDers often benefit from visually tracking progress, so consider using a chart or app to see your wins in real-time.

Learn more about managing debt with ADHD.

Simplify Savings Goals

Traditional advice to save for multiple goals at once can feel overwhelming. Instead, focus on one goal at a time—such as building an emergency fund—and celebrate milestones along the way. And find ways that work for you to get little hits of dopamine as you work toward your goals and on building new habits.

Check out this article on setting financial goals with ADHD.

Make Room for Fun (Without Guilt)

If possible, include a little bit of money each month for guilt-free spending. Denying yourself entirely can lead to burnout and binge spending. Use a "fun fund" category to ensure your budget includes money for things that bring you joy.

Consider Professional Help

You don’t have to do it all on your own, and trying to can feel overwhelming. Working with a financial coach can provide accountability and tailored strategies to fit your life. ADHD-friendly coaches understand how to work with, not against, your natural tendencies. I know I may be a bit biased on the subject, but seeing the results my clients have achieved speaks to the impact of one-on-one support.

Book a free consultation with me!

Managing money with ADHD isn’t about perfection; it’s about progress. By taking small, consistent steps, you’ll build systems that suit your unique needs. Check out additional blog posts with a new one each week, if you’re looking for more. I have lots of info for ADHD entrepreneurs as well!

Remember, you’re not alone—there’s support available to help you take control of your finances and build a life that aligns with your values and goals.