Ellyce Fulmore, author of Keeping Finance Personal, joins the hosts to discuss being neurodivergent in a neurotypical world. They cover topics like getting diagnosed with neurodivergent conditions, the impact of intersecting identities on financial experiences, and strategies to manage impulse spending. The chapter descriptions explore personal journeys of identity, the connection between personal habits and financial management, and the manifestation of money trauma in marginalized communities.
Neurodivergent individuals face unique financial challenges due to their brain differences and may struggle with impulse spending.
Marginalized identities, such as gender and sexuality, interact with financial experiences and require tailored financial approaches.
Neurodivergent individuals possess unique strengths, such as hyperfixation and creative problem-solving, that can contribute to financial success and well-being.
Deep dives
Understanding Neurodivergence and its Impact on Finances
Neurodivergent individuals often face shaming and misunderstandings. Their brains operate differently, leading to unique financial challenges. Many people struggle with impulse spending, seeking dopamine stimulation. Recognizing the underlying causes and creating barriers can help mitigate this behavior. Neurodivergent individuals benefit from visual systems and routines. Alyssa recommends using a separate spending card for fun money and leveraging colorful trackers to visualize finances. Hyperfixation, a common trait, can benefit people's money management when applied consciously. Neurodivergent individuals excel at routines and think outside the box, allowing for creative financial strategies.
The Intersectionality of Identity and Finances
Marginalized identities interact with financial experiences. Discrimination and barriers, such as homophobic rental experiences or unsupportive banks, can cause financial unsafety. Trauma experienced due to gender, sexuality, or race can affect money decisions and behavior. Understanding the intersectionality of identity can lead to tailored financial approaches. Embracing one's identity and developing financial systems that align with personal values is vital. Recognizing how intersecting identities impact financial experiences allows for more inclusive and effective financial strategies.
Leveraging Neurodivergence for Financial Strengths
Neurodivergent individuals possess unique strengths that can benefit their financial lives. Hyperfixation, a common trait, allows for intense focus on financial goals. When excited about a plan or goal, neurodivergent individuals are highly motivated and dedicated to achieving it. Structured routines greatly assist in adhering to financial plans and goals. Outside of the box thinking and creativity improve problem-solving skills, leading to innovative financial strategies. Understanding and leveraging these strengths can contribute to financial success and well-being.
Financial Challenges and the Importance of Individualized Approaches
Traditional financial advice often assumes a one-size-fits-all approach, disregarding the individual's unique needs and experiences. Neurodivergent individuals may face difficulties with time management and executive function, making rigid financial systems challenging to uphold. Individualized approaches are crucial in overcoming financial challenges. By acknowledging personal strengths, creating tailored systems, and allowing flexibility, individuals can develop strategies that align with their identities and values. Giving oneself permission to deviate from conventional advice empowers individuals to find financial success on their terms.
Exploring Money Trauma and the Need for Safe Financial Spaces
Money trauma can leave lasting impacts on one's relationship with finances. People with marginalized identities often face unsafe financial spaces due to discrimination and barriers. Financial interactions, such as loan applications or renting, can further exacerbate feelings of unsafety. Recognizing the trauma experienced and its implications is essential. Creating safe financial spaces that validate and support individuals from diverse backgrounds is crucial for fostering financial well-being. By acknowledging and addressing money trauma, individuals can begin to heal, find empowerment, and navigate their financial lives more effectively.
What is money like for those of us who aren't neurotypical? We bring in Ellyce Fulmore, author of Keeping Finance Personal, to discuss this and more in this week's episode of Money Feels!
We're your hosts, Alyssa and Bridget. Welcome to the podcast, where we talk through our money trauma and create a better understanding of building a healthy relationship with finance.
In today's episode, we discuss the following:
Ellyce's story
Our personal experiences with being neurotypical or neurodivergent
Getting diagnosed — is it worthwhile?
How money trauma manifests differently in people from diverse backgrounds
Dopamine and THE Dopamenu!
How intersecting identities like gender, sexuality, and neurodiversity impact one's financial experiences and decision-making
Strategies to help manage or mitigate impulse spending if you have ADHD
Thanks for listening to our first episode of a new season! If you want bonus episodes and more, you can join our Patreon! Until then, follow us on Instagram @mixedupmoney, @bridgiecasey and @moneyfeelspodcast, and we’ll see you next time!
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