Stability and organization are two words that best describe an ideal world for the ADHD brain. What happens, then, when someone with ADHD has a variable income? There’s no guarantee of stability, and it’s difficult to organize your expenses when you don’t have a fixed income.
Creating a Repeatable Structure
Establish a budget with a repeatable structure that doesn't require constant tweaking:
- Make sure you have enough income to cover your basic expenses
- When does the income come in in the month? Does it allow for scheduling?
- Look at your previous years of income and see if there are any seasonal patterns
- Build in some conservatism for any money leftover
- Create a working capital account to put any leftover money in to cover shortfall months
- Be more intentional with your spending to bring your overall expenses down
- Put a reminder in your phone to review your budget each month and look for areas of improvement
- Identify your savings goals and big-ticket items
Draw a Line You Will Not Cross
Define a list of things you will not do and post it somewhere visible to avoid pitfalls that will derail your progress
- Dipping into your emergency funds
- Using credit cards to smooth out shortfalls
- Falling victim to impulse spending
- Predicting when your monthly income will be higher or lower
Following this plan using these conservative methods will result in having money left over at the end of the year, allowing you to put that money toward your savings goals.
Remember, your goal is to spend less than you make. If your spending habits are well under control, these strategies will help you reach that goal.
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For more information, visit the show notes at https://www.adhdmoneytalk.com/s1e36
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