Ellyce Fulmore, a 29-year-old queer and neurodivergent financial educator and best-selling author, shares her unique approach to personal finance. She discusses the profound impact of identity on financial behavior, shaped by her late ADHD diagnosis. Ellyce emphasizes how upbringing and trauma influence money habits and provides strategies for mindful spending aligned with personal values. Her insights into budgeting, automation, and the emotional aspects of finance aim to help others find joy and stability in their financial journeys.
Ellyce Fulmore emphasizes that understanding one's intersecting identities can significantly influence financial decisions and foster personal empowerment.
The podcast discusses the importance of recognizing childhood financial traumas to develop healthier relationships with money and informed decision-making.
Mindful spending aligned with personal values is essential for fostering financial joy and reducing anxiety, especially for those with ADHD.
Deep dives
Embracing Neurodiversity
ADHD is framed not as a disorder but as a neurodiversity that necessitates a personalized approach for individuals to thrive. The program 'Three Days to Fall in Love with Your ADHD Brain' emphasizes understanding the unique functioning of the ADHD brain, especially regarding its manifestation in women. Participants will learn to create their own user manuals, which include tailored strategies that resonate with their personal experiences and strengths. This perspective encourages a reframing of ADHD as a different cognitive style rather than a deficit, highlighting the importance of self-acceptance.
Identity and Financial Behavior
The discussion emphasizes how intersecting identities, including gender, race, and neurodivergence, influence financial decisions and behaviors. Elise Fulmore, a neurodivergent financial educator, shares her journey of discovering her ADHD diagnosis and its connection to her financial struggles, demonstrating the intricate link between mental health and financial well-being. She highlights that understanding one's identity can help inform financial choices, particularly how societal expectations and discrimination can impact financial opportunities and mindset. By recognizing these factors, individuals can create more equitable and personalized financial strategies.
The Impact of Childhood Trauma
Childhood experiences significantly shape one's financial habits and attitudes towards money, often leading to intergenerational trauma and learned behaviors. Elise points out that many people carry money-related trauma, whether through neglect or negative reinforcement surrounding financial discussions in their upbringing. Traumas, such as feelings of insecurity related to finances, can hinder financial decision-making, leading individuals to operate from a place of fear rather than empowerment. Acknowledging this trauma and understanding its origins is crucial for developing a healthier relationship with money.
Mindful Spending Practices
Mindful spending is crucial for individuals, particularly those with ADHD, as it fosters a connection between financial decisions and personal values. By aligning expenditures with core values, one can create a budget that does not feel restrictive but rather supportive of personal joy and fulfillment. Elise advocates for assessing spending patterns to ensure they reflect the individual's true priorities, suggesting a shift away from guilt-driven spending. This value-based approach leads to a more intentional financial lifestyle that enhances emotional well-being.
Strategies for Financial Autonomy
The episode introduces effective financial strategies tailored for neurodivergent individuals, focusing on personalized systems that promote autonomy and confidence in managing money. Elise recommends a system of broad categorization, akin to virtual envelope budgeting, that simplifies financial oversight and helps prevent impulsive overspending. By setting aside an 'allowance' that allows free spending within defined limits, individuals can enjoy financial freedom without anxiety. This approach empowers people to navigate their finances while accommodating their unique cognitive styles, thus reducing feelings of overwhelm associated with budgeting.
Do you often feel swamped by money decisions? Or find yourself wondering how to make your spending really reflect what matters most to you?
Money management isn't just about crunching numbers - it's deeply personal, shaped by who we are and how we think.
In this episode of ADHD for Smart Ass Women, we explore the complex relationship between personal identity and financial behavior with Ellyce Fulmore, a 29-year-old queer and neurodivergent financial educator, content creator, and best-selling author of "Keeping Finance Personal: Ditch the 'Shoulds' and the Shame and Rewrite Your Money Story." Ellyce is the founder of Queerd Co., a financial literacy company that takes an innovative approach to money matters.
Ellyce's had a late ADHD diagnosis at 25, discovered through TikTok during the pandemic. This transformed her understanding of financial behaviors and led her to develop a unique approach to financial literacy.
With an online community of over half a million, Ellyce is dedicated to helping people find the right tools, strategies, and perspectives to create a life where financial stability and joy coexist. Her expertise has been recognized by major platforms including The New York Times, CBS News, Vogue, The Globe and Mail, and The Financial Post.
Ellyce shares insights from her journey - from post-university struggles to becoming a financial educator and author. Ellyce shared how factors such as neurodiversity, gender, race, and past experiences can profoundly influence our financial decisions and overall well-being.
Elise offers tips from outsourcing tasks to creating spending systems that work for neurodivergent individuals. Her insights are valuable whether you're trying to better understand your own financial habits or looking for new ways to approach money management.