Do you ever feel overwhelmed when managing your business and personal finances? Well, you're not the only one. This ADHD Money Talk episode is specifically designed to provide actionable tips and strategies for those who are self-employed or work as 1099 contractors. We'll guide you through the process of separating your business and personal finances by using business banking accounts. Also, we'll highlight the importance of understanding your business structure and the benefits of utilizing an accounting software for tracking receipts and invoices.But wait, there's more! We are also taking a deep dive into the various retirement contribution options available for self-employed individuals. Learn the ins and outs of investing in Roth IRA, regular taxable brokerage account, or SEP IRA. We discuss how these investment options can significantly reduce your current tax rate and save you a substantial amount of money in the long run. Remember, with financial decisions, it's always important to consult with a professional and always keep your business and personal finances separate. So, get ready to take charge of your finances in this enlightening episode!Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Have you ever imagined what it would be like to have a personal assistant that transcribes your thoughts, keeping track of the tiniest tasks that your memory can't hold onto? As someone living with ADHD, this isn't just a passing thought for me, but a constant reality. Join me as we navigate the intricate maze of ADHD, IQ, and working memory, and how this intertwining impacts my everyday life, from conversations and soccer practice to financial management.The revelation of my IQ test results, a solid 109, puts my verbal comprehension and perceptual reasoning above average. But here's the catch – my working memory is in the 34th percentile. Poor working memory isn't just about forgetting where I put my keys, it's a daily battle that affects my conversations, my sports practice, and most critically, my financial habits. It's about struggling to remember crucial details, even my own phone number. But hey, we're not here to dwell on the struggle. Let's dive into how we can turn these challenges into our strength!The moment you connect the dots between ADHD, poor working memory, and financial habits is the moment you start gaining control of your finances. Trust me, I've been there. We all know how one impulsive decision can lead to a cascade of unwarranted spending. Been there, done that. But with the help of financial tracking and building cognitive flexibility, I've been able to regain control. It's a journey, but it's doable. Let's embark on this together, learn from my strategies and experiences, and find out how to take control of our finances amidst our ADHD challenges.Want to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyHelping ADHD'ers unleash their financial potential through planning and coaching.DeWittCM.com/adhd to book free discovery sessionFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Are you ready to revolutionize your note-taking system? Discover the power of productivity apps specifically tailored for those of us with ADHD. We're taking a deep look at how I obsessively hyper-focused on productivity apps and completely transformed my approach to note-taking. We're exploring everything 'Mem', 'Obsidian', 'Akiflow', 'Asana', and 'Amazing Marvin'. Each of these apps brings a unique flavor to the table, changing the game in task creation, project management, and even hobbies like tracking golfing progress.As we journey through the world of Personal Knowledge Management, we’ll uncover how they can help us generate personalized content for blogs and other materials. We'll chat about AI, explore 'networked thought', and see how it assists in creating a visual map of thoughts and ideas. Beyond that, we're talking about task management and how these apps keep us on top of our game, whether it's work, hobbies or personal life. We'll also cover the downsides, such as the difficulty of setup and lack of integration with other applications, and the quest for a frictionless and integrative platform.Concluding our tour, we’ll discuss how to make the best use of these apps to maximize productivity while staying mindful of our spending habits. It's been an enlightening exploration of productivity apps and how they can enrich your life and work. So buckle up for a ride through the rabbit hole of productivity apps, their features, benefits, and how you can use them to stay organized and efficient. You don't want to miss it.Apps mentionedMem - networked notesSunsama - tasks and daily planningAmazing Marvin - tasks and day planningClickUp - tasks, projects, so much moreObsidian - networked notesRoam Research - networked notesLogseq - networked notesWant to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyHelping ADHD'ers unleash their financial potential through planning and coaching.DeWittCM.com/adhd to book free discovery sessionFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Are your summer expenses spiraling out of control? Have no fear, because in this episode, I share my struggles with balancing summer expenses and the unexpected surprises that often come with the season. You'll learn how I'm coping with these financial challenges and stay ready for life's curveballs.I also dive into the importance of developing financial responsibility and budgeting habits, especially when navigating through the costly summer months. From how having children has helped me get better with money, to how my anxiety has shifted from worrying about paying off debt to now worrying about not being able to save as much money as I wanted, I share my experiences and tips for smart summer budgeting. Join me as I share some helpful summer budgeting advice and discuss how I'm working towards exiting the demanding work tunnel.Want to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!If you enjoyed this podcast, the best way to help me is share it with a friend. Reviews and ratings are also appreciated:Click here to leave a review on AppleClick here to leave a review on my websiteGive me five stars on SpotifyHelping ADHD'ers unleash their financial potential through planning and coaching.DeWittCM.com/adhd to book free discovery sessionFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

In this episode, we dive into the features and benefits of Monarch Money, an incredible budgeting app that has gained popularity over the past three years. David shares his personal experience with the app and highlights why it stands out from other budgeting tools. From effortless budgeting to intuitive design and gamification elements, Monarch Money offers a refreshing approach to managing your finances. Stay tuned to learn more about its features and how it can help you gain control over your money.Episode Highlights:Introducing Monarch Money: A Modern Budgeting ToolMonarch Money is a relatively new budgeting tool, just three years old.The app stands out for its modern design and user-friendly interface.The developers have put great effort into building an intuitive and visually appealing app.Seamless Account IntegrationMonarch Money allows users to link all their financial accounts, including credit cards, bank accounts, loans, mortgages, and investments.It offers smooth integration with popular financial platforms like Plaid and Finicity.Manual entry is also available for accounts that cannot be linked directly.Net Worth Tracking and Zestimate IntegrationMonarch Money enables users to track their net worth by including assets and liabilities, such as property values.The app even integrates with Zillow's Zestimate feature for automatic property value updates.Transitioning from Other Budgeting AppsMonarch Money provides easy-to-follow instructions for users switching from other budgeting apps like Mint.It offers clear guidance on importing statements from Apple, especially for Apple Card users.Streamlined Transaction CategorizationMonarch Money simplifies transaction management by automatically importing pending transactions and allowing users to edit them.The app offers customizable rules to categorize transactions automatically based on user preferences.Users can enjoy the convenience of quick categorization and real-time tracking of expenses.Visual Cash Flow AnalysisMonarch Money's cash flow tab provides a comprehensive view of income, expenses, savings, and savings rates.Expenses are categorized by groups, allowing users to identify spending patterns easily.Users can also analyze spending by merchants to gain insights into specific areas of expenditure.Effective Budget PlanningMonarch Money's plan tab allows users to set budget amounts and track actual expenses.The left-to-budget feature helps balance income and expenses effectively.The app includes a forecast page where users can set budgets for future months, encouraging proactive financial planning.Adjusting Budgets in Real TimeMonitoring progress and making intentional decisions throughout the month is crucial.Monarch Money enables users to adjust budgets on the go, reallocating funds between categories or goals.The "sweep remaining amount" feature allows users to transfer unspent funds to different categories easily.Conclusion:Monarch Money offers a refreshing and user-friendly approach to budgeting. With its intuitive design, seamless account integration, and powerful features like real-time transaction tracking and budget forecasting, the app empowers users to take control of their finances. DiscouFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Listener Louise writes: "I'm very good at saving. I love watching my savings balance grow and have gamified this process in many different ways to make it interesting and exciting. The problem is that impulse spending kicks in with whatever I'm into at that moment, and suddenly all my savings are gone. How I can stop this happening?"This problem is common among ADHDers, but I have some practical tips for how to help control spending so you can enjoy saving more. Listen in...For more information, visit the show notes at https://www.adhdmoneytalk.com/s1e58Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Are you someone with ADHD who's struggling to get a handle on your finances? Well, you're not alone. Many people with ADHD find it challenging to manage their finances, leading to financial stress and anxiety.But fear not! There is a way out of this financial mess, which could start with making sacrifices.The Challenge: Make One BIG SacrificeI work with so many people who are one sacrifice away from being able to make incredible progress. Making sacrifices is important for anyone with ADHD who wants financial freedom. It requires discipline, self-control, and prioritization. But with a little effort and sacrifice, you can take control of your finances and live the life you want. So, take a deep breath, plan, and make those sacrifices. Your future self will thank you.For more information, visit the show notes at https://www.adhdmoneytalk.com/s1e57Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Listener Rebecca has transformed from being an impulsive spender to now hyper-fixating on saving and investing. In today's episode, we discuss the potential struggles with money vigilance and how being close to the financial world can make personal financial decisions harder. We also explore the decision-making process for buying a car while saving for a house and retirement. We emphasize the importance of striking a balance between immediate desires and long-term financial goals, and ensuring all financial bases are covered before making any big-ticket purchases. Lastly, we discuss the importance of maintaining a healthy balance when it comes to financial management and the cautionary tale of Ebenezer Scrooge as an extreme example of money vigilance gone wrong. Join us as we navigate the complexities of money management for ADHD individuals and learn how to find that perfect balance between saving and spending.For more information, visit the show notes at https://www.adhdmoneytalk.com/s1e56Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

Money does not have to lead us to this life of dependence and scarcity. We were just taught wrong. We weren't taught how money really works. No class in high school shows us how to become wealthy and financially free. Listen in to hear:We were never taught how money really worksThe biggest difference between the poor and the wealthyRight mindset but wrong brainAudiobooks to "read":Rich Dad Poor Dad by Robert KiyosakiWhy the Stock Market Goes Up by Brian FeroldiAtomic Habits by James ClearMoney Mammoth by Brad KlontzThe Millionaire Next Door by Thomas StanleyThink and Grow Rich by Napoleon HillThe Automatic Millionaire by David BachBroke Millennial by Erin LowryClever Girl Finance by Bola SokunbiWant to work with me?Check out my ADHD Planning & Coaching service.Help Me Out!Click here to leave a review oFinancial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!

A listener asked me this question, "What does one do if, after adding up fixed expenses, there is no money leftover and nothing to cut back on?"Listen in as we assess the situation and I help address:Viewing Wants as NeedsFood Prices increased 17%Reducing credit card interest ratesConsolidating debtCutting the Cord and Streaming insteadMaking MoreWhat you truly wantOf course, I don't have the details and circumstances behind this person's reason for asking the question, but do my best to address the issue from various angles. Hopefully this can help you too.For more information, visit the show notes at https://www.adhdmoneytalk.com/s1e54Financial planning and coaching for adults with ADHDADHD Money Talk on YouTubeSubscribe to the ADHD Money Talk Newsletter!