Budgeting Advice & Help For Neurodivergents
Do you have ADHD or consider yourself neurodivergent? You may need a different way to manage your cashflow effectively.
According to CHADD, people with ADHD struggle with keeping track of balances and expenses. Adult folks with ADHD simply don’t like to look at them, or struggle to control their cashflow. This is because poor planning, impulses and avoidance are part and parcel with having ADHD, meaning money management is no exception.
Modern money-saving and management tips are based on neurotypical models which simply don’t work for everyone. With this in mind, we’ve scoured the web and TikTok to find the best ways neurodivergents can manage their finances. Which as well all know, is especially vital as a student!
Budgeting tips for people with ADHD
1. Forget the word “budgetâ€
Ew, budget. This word can send shivers down our spines. It can make you think you’re lacking and need to sacrifice things when in reality, it’s simply knowing your take-home pay and outgoings.
By knowing how much you get (from student loans, a part-time job or both), and monitoring what you spend over a period of time, you can see where you spend the most. Is it on too many nights out? One too many ASOS orders? This way you can track your expenses and reign it in where necessary.
Here’s how to think of your take-home pay and outgoings:
- Know how much you have to spend a month (or term)
- Calculate your essentials (rent, food shop, bills etc)
- Subtract point two from point one to see how much you have left for the month or term
- Know when payments are coming out (you can pop these on your calendar and set reminders).
Don’t think of checking in on your progress as budgeting. This is you monitoring your progress. Don’t wait until you go over your overdraft and pop a reminder in every week or month to check your bank balance.
2. Split expenses into categories
Folks with ADHD are known to hyper fixated on hobbies and interests. So why not use this as a superpower over your money management?
By gamifying the process, managing your money can actually be a lot more fun. You could try taking out the cash and putting them in envelopes labelled “foodâ€, “going outâ€, “holidays†and those emergency money situations with housemates.
If handling physical cash isn’t for you, then create digital pots with your bank (Monzo is a great bank to do this with). If you’re really up for it, then a classic Excel spreadsheet works wonders. Or better yet, wack out the coloured pens and pencils and do it the old-fashioned way!
3. Automate
@queerd.co is a financial educator with ADHD on TikTok. We’re huge fans of their method for money management with ADHD. They elaborate more on ditching a “budget†and focusing on automation.
Automation is exactly what it sounds like. It’s setting up direct debits and standing orders to send money to where you need it. If you prefer having full control and paying manually then that’s totally your call. But if the idea of tracking so many things at once puts you off altogether, then automation is your absolute bestie. Especially if you want to make your money go further.
So what are the things you want to automate?
- Bills and re-occurring expenses (incl your Netflix subscription here too)
- Savings contributions
- Debt payments (if at all)
- Investments (new phone, holidays etc)
4. Think about your short and long-term goals
Take some time to reflect on the things you want short term or long term. Are you moving home for a while? Are you planning a gap year of travel? Are you taking an internship after uni? All of these things plus more are things to think about when it comes to planning your money management.
With ADHD in the mix, this can feel overwhelming. Break down each goal into tiny steps you can achieve daily, weekly, monthly and/or yearly to make them more manageable.
Don’t be afraid to ask for help from a friend, partner, therapist, or a coach. Money management routines are hard to nail down for the first time and it will involve trial and error. By seeking help, you can feel better supported to try new ways that work for you.
Read: Legit ways to make money watching videos.
We hope these money-saving tips for neurodivergents have helped you in some way. Feel free to share how you best manage your money to help fellow neurodivergent folks.
