ADHD makes managing money hard. It requires a lot of starts & stops, trials & failures, recovering, bouncing back, and resilience.
We may intellectually understand why managing your money is essential, but when it comes to implementing a plan, we hit a wall.
That was me too.
My Story: Digging Myself Into a Hole
My first job after college was as a mutual fund accounting analyst. I became hyper-fixated on becoming a wall street stock analyst.
I studied to get my chartered financial analyst (CFA) certification, and passed level one on my second try.
However, I couldn't quite finish the other two. I was burned out and no longer motivated.
A new hyper-fixation popped up in the comedown of passing the level one exam; I decided to buy a house.
One year into working as a financial advisor, I was focused exclusively on investing. I wasn't operating as the comprehensive planner I studied to be, and fully furnished my home all on credit.
...in one day.
“No interest for 24 months”. Who could resist?
Further big purchases included a golf simulator, gear, lessons, substantial grocery bills, subscriptions, and landscaping. I was out of control.
Amid my spending frenzy, I told myself I would be making way more money, and everything would take care of itself. But it didn't. I depleted all of my savings and built up an enormous amount of debt.
To make things worse, I started dipping into my investments. It all backfired.
Digging Myself Out
So how did I get myself out of the mess? First, I read everything I could find about ADHD.
The new knowledge helped me acquire healing and self-acceptance, which allowed me to feel worthy of having a solid financial situation.
I pursued my CFP certification once again, tracked my spending, and sacrificed things to regain control.
To reduce my expenses $1,300 a month I sacrificed:
I also stopped buying golf equipment, accessories, and clothes. The feeling of control was more rewarding than having things.
Where I am Today
Through sacrificing and making adjustments to my life, I am now out of debt and have savings.
I also regularly contribute to my investments!
All the sacrifices helped me developed a "spending awareness muscle" to repel the urge to spend when I see it creeping in.
I hope my story helped you. ind a way that works to get fired up about having a budget. Visualize your dreams, and make them feel real in your ADHD brain.
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