How To Save Money With ADHD: 19 Tips and Tricks

Managing finances can be incredibly challenging for ADHDers due to impulsivity, forgetfulness, and difficulty with organization. However, these obstacles are manageable. Some ADHD-friendly methods and strategies can help you save money effectively. Read on for 19 practical tips and tricks tailored to the unique needs of ADHD brains.

Use Visual Timers for Spending Limits

A great way to follow the tip of using visual timers for spending limits is to set a specific time constraint before making any non-essential purchase. For example, when shopping online or in a store, use a visual timer set for 15 minutes to think over your potential purchase. This gives your brain time to process whether the item is truly necessary or just an impulsive desire.

Visual timers work because ADHDers often benefit from visual cues and structured timeframes, aiding in impulse control. By having a visual representation of time passing, it becomes easier to pause and evaluate spending decisions carefully, ultimately reducing unnecessary expenses.

Create No-Spend Zones at Home

Designating no-spend zones at home involves identifying areas where financial transactions are restricted, such as avoiding online shopping in bed or refraining from carrying your wallet in certain rooms. Implementing this tip can be as simple as removing all forms of payment from those areas or setting up signs as reminders.

This approach is effective because it creates physical and psychological barriers against impulsive spending. By associating certain zones with financial discipline, you can better manage your environment to curb sudden urges to buy, fostering mindful spending habits and reducing the likelihood of unplanned purchases.

Implement a Buddy System

A buddy system involves partnering with a trusted friend or family member to discuss and review your potential purchases before making them. To follow this tip, reach out to someone who understands your goals and financial constraints and arrange regular check-ins or quick consultations via phone, text, or in person.

This system works because it introduces accountability into your decision-making process, which can benefit your ADHD brain. The external input and support help create a pause before spending, allowing for more mindful consideration of whether a purchase is necessary. By relying on a check-in buddy, you’re less likely to make impulsive buys. You can receive encouragement and constructive feedback, leading to better financial habits and greater savings over time.

Use Gamification for Financial Goals

Gamification for financial goals involves turning saving money into a game by setting clear objectives, tracking progress, and rewarding milestones. To follow this tip, identify a specific savings goal, such as building an emergency fund or saving for a vacation, and break it down into manageable milestones. Use tools like apps or charts to visually track your progress, and set up rewards for reaching each milestone, such as treating yourself to a small non-monetary reward.

Gamification may work if you find traditional financial planning methods tedious and unengaging. By incorporating elements of play, competition, and rewards, gamification leverages intrinsic motivation to make the process enjoyable and stimulating. This approach not only helps maintain focus and commitment but also transforms saving money into a fun and achievable challenge, making it easier to stick to financial goals.

Incorporate Sensory Tools

Incorporating sensory tools into your financial routine involves using items that provide tactile or visual stimuli to enhance focus and reduce impulsivity. To follow this tip, introduce sensory objects like stress balls, textured fabrics, or fidget spinners into your budgeting and spending review sessions.

These tools can provide a physical outlet for excess energy, improving your concentration on financial tasks. The tactile feedback from handling sensory tools keeps the brain engaged and aids in maintaining attention on the task at hand. Integrating sensory tools into your financial habits can make staying focused, reducing stress, and making more deliberate and thoughtful spending decisions easier.

Set Up Multiple Savings Accounts for Different Goals

To set up multiple savings accounts for different goals, start by identifying various financial objectives, such as an emergency fund, vacation savings, or a fund for big-ticket items like a new gadget or car. Next, open a separate savings account for each goal to earmark funds specifically for those purposes.

This method works particularly well for ADHDers because it introduces a clear structure and organization to saving efforts. By categorizing each goal into its own account, you can visualize progress and resist the urge to dip into savings for unintended purposes. Seeing the growth in each account can also provide positive reinforcement, motivating you to save and helping you better manage your finances. Just make sure you keep your log-in details handy so you can easily access the accounts. Checking your account balances once a week — or even every day — can also help you get used to seeing your finances and make the process less uncomfortable.

Leverage ADHD Tax Savings

ADHD tax is a term used to describe the additional costs associated with impulsive or disorganized behaviors, such as late fees, missed appointments, and wasted food. Start by identifying common areas where impulsive spending typically occurs, such as buying unnecessary items, forgetting to cancel subscriptions, or incurring late fees on bills. Next, create a dedicated savings account to capture the money you save by avoiding these ADHD taxes. For example, if you avoid a late fee by paying a bill on time, transfer the amount you would have been charged into this account.

This method works because it directly addresses the financial pitfalls you may encounter due to impulsivity or forgetfulness. By turning these potential losses into savings, the strategy provides a clear financial structure and offers tangible rewards for improved financial behavior. Over time, watching the ADHD Tax savings account grow reinforces positive habits and provides a buffer for future expenses.

Write Letters To Future You

Write a Future You letter by identifying specific financial goals or spending habits you want to address. Detail why achieving these goals is important and the benefits that will come from staying on track. Include motivational messages, reminders of past successes, and strategies to overcome potential challenges. Revisit these letters periodically, especially when tempted to make impulsive purchases.

This method works because it provides a personal and emotional connection to your financial goals, making them feel more tangible and achievable. The act of writing and reading these letters helps reinforce commitment, provides a moment of reflection, and encourages a long-term perspective on financial health. By tapping into the emotional connection with your future self, this technique can effectively reduce impulsive spending and promote mindful decision-making.

Integrate Financial Tasks with Other Routines

To integrate financial tasks into other routines, identify daily or weekly activities already well-established in your schedule. This may include brushing your teeth, having morning coffee, or weekly grocery shopping. Pair these habitual activities with specific financial tasks, like reviewing your budget, organizing receipts, or setting spending limits. For instance, you might check your bank statements while having your morning coffee or update your expense tracker every Sunday evening.

This method works well because it leverages existing habits, making it easier to adopt and maintain new financial behaviors without additional time management. By embedding financial tasks into your routine, it becomes a seamless part of your lifestyle, enhancing consistency and reducing the likelihood of procrastination, which is particularly beneficial if you’re ADHD.

Invest in Time-saving Services

Assess areas in your life where routine tasks consume large chunks of time, such as meal preparation, grocery shopping, house cleaning, or organizing finances. Consider outsourcing these tasks by using services like meal delivery kits, grocery delivery apps, housekeeping services, or automated budgeting tools.

Doing so can reduce the cognitive load and decision fatigue associated with managing multiple tasks. Streamlining these routine activities can free up mental energy and time, allowing you to focus more on high-priority goals and reducing feelings of overwhelm. This shift enhances productivity and supports better emotional and mental well-being by creating a more structured and manageable daily routine.

Use a Calendar with Financial Reminders

Calendars and planners can be hit or miss if you’re ADHD, but if you’ve had success using them in the past, they can be a great way to save money. If you’re not already using one, choose a calendar format that suits your lifestyle — whether it’s a digital calendar, a physical planner, or a combination of both. Enter important financial dates such as bill due dates, savings milestones, or investment reviews. Set up reminders and alerts a few days before these deadlines to ensure you have ample time to prepare and take necessary actions. Most importantly, keep the planner somewhere you’ll see it and use it every day.

This approach introduces a consistent structure and external cues to help manage time-sensitive tasks. The reminders serve as prompts that reduce the likelihood of missed payments or overlooked financial responsibilities, thereby minimizing the stress and potential financial penalties associated with forgetfulness. Integrating these financial tasks into your calendar creates a reliable system that supports timely and effective financial management.

Participate in a Low-Buy Challenge

A low-buy (or no-spend) challenge is when you choose a defined period during which you won’t spend money on non-essential items. Set clear and realistic spending limits for non-essential items over that time, such as a week, month, or even a year. Identify categories where you tend to overspend, such as dining out, entertainment, or clothing, and commit to significantly reducing or eliminating purchases in these areas. Document your progress by keeping a log of your discretionary spending and reflecting on the changes in your financial habits and emotional well-being.

No-spend challenges provide a structured framework for evaluating and curbing unnecessary expenditures, fostering a heightened awareness of spending patterns and the true value of purchases. By actively engaging in a low-buy challenge, you can gain an immediate sense of control over your finances, leading to increased savings and more intentional financial decisions.

Engage in Mindful Shopping Practices

Before your next shopping trip, make a list of items you need to help you avoid impulse buys. If you plan to shop in person, make a list in the order you travel through the store to avoid distracting displays and temptations. If you’re shopping online, don’t get caught up in the “Did You Forget?” items that pop up just before checkout. Practice being fully present during shopping trips: pay attention to your emotional state, the environment, and the marketing tactics around you. Take a moment to reflect on whether each item is a necessity or simply a desire.

Also consider implementing a waiting period for non-essential purchases; for example, wait 24 hours before buying to assess if the item still feels necessary. This method works because it promotes intentional spending and greater awareness of purchasing habits, reducing the likelihood of impulse buys and regretful expenditures. By staying mindful, you can cultivate a more disciplined approach to shopping, leading to better financial control and satisfaction with your purchasing decisions.

Create a Personal Financial Binder

Organize a binder with all your financial information, goals, and receipts. Physically engaging with your finances can help make them more tangible and manageable. Use dividers and tabs to categorize financial tasks such as budgeting, savings, debt repayment, and investments. Keep physical copies of important documents, such as bank statements or tax returns.

A personalized financial binder can serve as a visual reminder of your financial goals and progress. It can also make it easier to access important information when needed, reducing the likelihood of missed payments or disorganized finances. As with everything else, keep your financial binder where you’ll see it every day. This approach promotes accountability and organization in managing personal finances.

Designate a Pause Purchase Jar

Start by selecting a jar or container to act as a physical reminder of your commitment to thoughtful spending. Each time you feel the urge to make an impulsive purchase, write down the item and the cost on a piece of paper and place it in the jar instead of immediately buying it. Set a specific waiting period, such as 24 hours or a week, before revisiting the item to see if the desire to purchase still exists.

This method works particularly well for ADHDers because it creates a tangible pause button, giving you time to assess the necessity and value of the potential purchase. By delaying immediate gratification, you are less likely to succumb to impulse buys, thus saving money and fostering a habit of more deliberate spending. Also consider tracking potential purchases with a digital wishlist like those offered by online retailers like Amazon.

Incorporate Self Care into Your Routine

Remember to incorporate self-care practices into your financial management routine. Budgeting, saving, and investing can be stressful and overwhelming at times, so it’s essential to prioritize your well-being throughout the process. Take breaks when needed, engage in activities that bring joy and relaxation, and find healthy ways to cope with any financial stress or anxiety. By nurturing your mental and emotional health, you can maintain a positive mindset toward managing your finances without falling into burnout.

Practice Digital Detox Days

On digital detox days, make a conscious effort to disconnect from all non-essential digital devices, including smartphones, tablets, and computers. Allocate specific days or time slots in your routine to be tech-free, focusing instead on offline activities such as reading, exercising, or spending quality time with loved ones.

If you’re prone to digital distractions and impulse online shopping, these detox days can significantly reduce exposure to ads and the temptation to make spontaneous purchases. By stepping away from the constant barrage of online marketing and social media influences, you can make more mindful financial decisions, ultimately promoting better money-saving habits and less impulsive spending.

Develop DIY Skills

Developing DIY skills can be a substantial money-saver, particularly if you find self-directed projects engaging and rewarding. Learning to handle basic repairs, crafts, and home improvements reduces the need for professional services, thus saving on labor costs. Moreover, DIY activities can provide a productive outlet for creative energy, keeping you focused and motivated.

The process of sourcing materials, planning projects, and executing tasks also promotes organizational skills and time management. Beyond the financial benefits, the sense of accomplishment from completing a DIY project can boost confidence and provide a tangible reminder of your capabilities. Just check in with yourself before starting a project to determine whether it’s feasible. Struggles with executive function can make DIY projects difficult, and you don’t want to spend money on supplies you never use — or that sit around making you feel guilty.

Personalized Spending Reports

Creating personalized weekly spending reports that incorporate emojis and visual aids can significantly enhance your financial awareness and motivation. By visually representing your financial health and goals, you make the data more engaging and easier to understand. For example, you could use green checkmarks or thumbs-up emojis to indicate successful savings or hitting a budget target, while red exclamation points could highlight overspending in certain categories. These visual cues serve not only as immediate indicators of your financial standing but also as emotional motivators.

Seeing positive emojis and progress charts can boost your morale and encourage continued responsible spending. Conversely, the presence of warning icons can prompt timely adjustments to avoid financial pitfalls. Personalizing your reports this way can make financial tracking more enjoyable and less of a chore, leading to a greater likelihood of sticking to your budget and achieving your financial goals. Regular weekly reports also help you identify spending patterns and react promptly, giving you better control over your finances. This consistent monitoring can help you make more informed decisions, avoid impulsive buys, and save more money.

The Last Word

As you explore these tips for incorporating mindful and intentional practices into your financial management, remember that everyone’s journey is unique. Find what works best for you and make adjustments when necessary. By prioritizing both your financial well-being and overall well-being, you can create a more fulfilling and sustainable approach to managing your finances in the long run.

One-on-one financial coaching can provide additional support and tailored guidance to help you control your spending and reach your financial goals. Schedule a free discovery call to learn more about my coaching options and start repairing your relationship with money today!