The ADHD Entrepreneur: Financial Self-Care
We’re known for our creativity, big-picture thinking, and ability to hyperfocus on things that light us up. But when it comes to managing finances, our ADHD brains can sometimes make things more complicated than they need to be or have us avoid them altogether. Today, I’d like to challenge how you think about self-care, because it’s not all about bubble baths and meditation. Financial self-care can have a huge impact on our mental health. It’s about creating systems and habits that support our financial well-being without overwhelming us. Here are some simple steps you can start today to practice financial self-care and set yourself up for success. 🤑
1. Say goodbye to avoiding your money
One of the best things you can do for yourself if you are stuck in avoidance mode is to look at your numbers. I know it’s scary, but avoiding things is leaving your brain on a hamster wheel, which can never get off, and that leads to creating scenarios in your head that are likely a lot worse than your reality! Grab a notebook or open up a spreadsheet then:
Let’s calculate where you stand today:
List everything you own that has a decent value, with an approximate amount that it is worth (focus on the bigger things like a car, or more expensive equipment in your biz).
List all bank accounts, or investment accounts and their current balances.
Total them all up.
List all your debts. Who you owe and how much you owe.
Total your debts.
Subtract your debts from your assets, and write the number down.
Take a deep breath and do a little happy dance because you just did something big!
2. build yourself a personal budget
I know I’m knocking down a list of all the things you don’t want to do! Use whatever method is best for you and start to list out your monthly income and personal expenses.
Use Categories that Work for You: Instead of having a detailed budget with 20 categories, simplify it down to 4-5 broad categories like Housing, Food, Transportation, Entertainment, and Savings. This makes it easier to track without feeling overwhelmed.
Grab my Free Budget Template: If you need a little help with where to start (and don’t want to do the math), this free tool can be a big help.
Want a little more help? Listen to episode 5 of the Mind + Money Podcast. Find it here!
3. Look for opportunities to add automation
Automating as much of your financial life as possible can save you time and make sure things still get done. ADHD brains often struggle with remembering to pay bills on time or consistently putting money into savings. Automating these tasks takes them off your plate and ensures they’re taken care of without you having to think about them.
Automate Bill Payments: Set up automatic payments for all your recurring bills like rent, utilities, credit cards, and subscriptions. This prevents late fees and keeps your credit score healthy.
Automate Savings: Set up automatic transfers to a savings account or an investment account. Even if it’s a small amount, it adds up over time and helps you build a safety net without needing to manually transfer money every month.
4. Create a Weekly Money Date
Scheduling a weekly “money date” can make managing finances feel more like self-care and less like a chore. Pick a time each week, ideally the same time, and set aside 30 minutes to an hour to review your finances. The longer you do this for the less time it will take.
Check Your Accounts: Log into your bank and credit card accounts to check balances and review recent transactions. This will help you stay aware of your spending and catch any fraudulent activity early.
Review Spending: Use this time to review your spending and see how you are doing compared to your budget. This doesn’t have to be perfect—just a quick check-in to make sure you’re on track.
Review Financial Goals: Spend a few minutes reviewing your financial goals. Are you on track? Do you need to adjust anything? This regular check-in helps keep your goals front and center.
Add Accountability: Make your money date a group thing with a friend or two to help keep each other accountable.
5. ADD Visual Reminders
ADHD brains are often more responsive to visual cues. Use this to your advantage by incorporating visual reminders into your financial self-care routine.
Post-It Notes: Write down your top financial goals or reminders on Post-It notes and place them somewhere you’ll see them every day—like your computer monitor or bathroom mirror.
Vision Boards: Create a financial vision board with images and quotes related to your financial goals. This can serve as a daily reminder of why you’re working towards these goals and keep you motivated.
6. Break Down Financial Tasks into Small Steps
One of the biggest challenges for us ADHD entrepreneurs is getting started on tasks that feel overwhelming. To combat this, break down financial tasks into the smallest steps possible. This makes things easier for us, but also gives us more dopamine because we have more things to check off!
Micro-Steps: Instead of telling yourself you need to “do your taxes,” break it down into micro-steps like “gather receipts,” “download bank statements,” and “input income and expenses into tax software.” This makes the task feel more manageable and helps prevent procrastination.
Time Block: Allocate specific times in your calendar for your tasks. Instead of spending an entire day on a big financial task, break it up into smaller chunks over several days or weeks.
7. Celebrate Small Wins
ADHD brains thrive on positive reinforcement, but we also tend to take no time to reflect on what we have accomplished or how far we’ve come. Make sure you celebrate your financial wins, no matter how small they may seem.
Acknowledge Progress: Every time you successfully stick to your budget, save a little extra, or pay down debt, take a moment to acknowledge that progress. This reinforces the behaviour and makes it more likely you’ll continue.
Reward Yourself: Consider setting up a small reward system for hitting financial milestones. Maybe you treat yourself to a nice dinner, a new book, or a day off work to do something you love. Rewards can help make the process of managing money feel more enjoyable and less like a chore.
My final 2 cents
Financial self-care isn’t about being perfect or figuring everything out right now—it’s about taking small steps to support your financial and overall well-being. By working on the steps above you can make positive changes to how you care for your money! And, as ADHD entrepreneurs, we are more than capable of achieving progress.
