DeepSummary
In this episode, hosts Simon Meyer and Maya Kiawda Simdhennae discuss managing finances when dealing with ADHD. Maya shares her experience of being on the waitlist for an ADHD diagnosis and how the condition can impact financial management, such as forgetting to pay bills, impulse buying, and struggling to create budgets.
The hosts provide practical tips to help those with ADHD better manage their money. These include setting up automatic bill payments, curbing impulse spending by avoiding temptations and focusing on value-based spending, instantly paying off credit card purchases, creating a simple financial plan tailored to individual needs, and setting reminders for subscription expirations.
Throughout the episode, Simon and Maya emphasize the importance of finding systems and strategies that work for each individual's needs. They share personal anecdotes and stress that even without an official diagnosis, implementing these tips can be beneficial for anyone struggling with forgetfulness or financial organization.
Key Episodes Takeaways
- People with ADHD may struggle with managing finances due to forgetfulness, impulse spending, and difficulty creating budgets.
- Setting up automatic bill payments can help avoid missed payments and late fees.
- Curbing impulse spending by avoiding temptations and focusing on value-based spending can be effective.
- Instantly paying off credit card purchases can prevent forgetting and accruing interest.
- Creating a simple, personalized financial plan is more effective than following complex systems.
- Setting reminders for subscription expirations can prevent unintended renewals and charges.
- Finding strategies tailored to individual needs is crucial, even without an official ADHD diagnosis.
- Implementing these tips can benefit anyone struggling with financial organization, not just those with ADHD.
Top Episodes Quotes
- “But putting your bills on autopay, whether you have ADHD, whether you're just really busy, whether you forgetful, whatever, it is life changing.“ by Simon Meyer
- “I think, especially with finances, it can be daunting, it can be overwhelming, and it's about finding a budget, a financial plan that works best for you in the sense of it being simple.“ by Maya Kiawda Simdhennae
- “If you enjoy this episode though, let us know. Take a screenshot, put it on your Instagram story, share it with your friends and family.“ by Simon Meyer
- “It will honestly be good closure because it's like, you know, I've just been working within systems and processes that don't work for me and I need to stop trying to force a thing that's not going to work for me. And it's just, again, about finding a plan that works best for me.“ by Maya Kiawda Simdhennae
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Episode Information
Girls That Invest
Girls That Invest
4/29/24
This week, Sim & Maia dive into the complexities of managing finances with ADHD, offering practical tips like setting up autopay and curbing impulse spending. They share personal anecdotes and strategies to make financial planning simpler and stress-free, highlighting tools like budget spreadsheets and reminders for bill payments. Tune in as they explore how ADHD affects financial decisions and provide insightful advice to improve money management, regardless of neurotypical status.
Click HERE to try out the ADHD Bills spreadsheet.
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'Til next week, team! 💖
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