Budgeting with ADHD
We did it! I can’t believe it. My husband and I finally found a simple system that I, (the ADHD queen), can manage. Not only do we keep track of our money, but we save money in our 401(k) and have money for things we didn’t think we could ever afford.
The final secret of our success was 31 envelopes. More about that later. Before the envelopes, I had been frustrated for years because money was something that just overwhelmed me. I struggled with Quicken for months, and I could never really master it because remembering passwords and working out glitches were not really my thing. Paper tracking systems didn’t work either because I kept losing them.
But little by little, we have figured out a system that is reallying working for us. The envelopes were the icing on the cake. For the next ten days, I’ll share the steps we took to gain greater control of our finances.
Step 1: We consilidated our peronal spending, including our credit card spending, into one banking institution.
We decided to consolidate our accounts so that it would be easier for us to track our spending. We cancelled our other credit cards and opened a credit card through Wells Fargo, our banking institution. What we have loved is that we can login and see our credit card spending, our cash withdrawals, our bill pay, and our personal checks all from the web-site.
While you may not be able to cancel credit cards that still have balances on them, you can quit using them. All of your expenses will be shown exclusively through your bank account’s web-site (including your credit card payments).
I was even able to put my credit card bill on autopay so that Well Fargo automatically withdraws money from my account to pay off my credit card. That has relieved a lot of stress because I no longer am worrying about missing a deadline and paying a hefty late fee.
Step 2: Will be featured tomorrow. I’ve got a 3 year old I need to play with right now.