4 Steps to Financial Freedom After a Divorce
A plan to help women with ADHD take control, set goals, and secure a stable financial future after a divorce or separation.
Q: I’m going through a divorce. Because of my ADHD and impulsive spending, my husband managed our finances. I currently work part-time in a job with no benefits. I’m worried about being able to manage and afford my household expenses, even with child support. Where do I start?
I’m sorry you’re going through this. It’s never too late to begin building a bottom line, and here is how I would recommend getting started.
Step #1. Find a Good Job
Consider looking for full-time employment with benefits. A job that provides health insurance and an employer-provided retirement match will help you build financial stability now and for your future.
Look for jobs that use your ADHD strengths. Consider engaging jobs and environments that are fast-paced, creative, and varied. Depending on your educational background, it may be helpful to look for companies that offer tuition assistance so that you may return to school or receive additional training and move up to a better position with better pay.
[Free Download: ADHD-Friendly Budgeting Guide]
Step #2. Budget and Save
Use financial tools that work for your brain. Automate bill paying to reduce your mental load. For budgeting, use apps like You Need a Budget (YNAB) to track your spending. YNAB offers a structured way to visualize the flow of your money and has built-in warning signs to let you know if you’re getting off track.
Other free apps include EveryDollar and PocketGuard. Make it a habit to check in with your budget regularly.
Also, automate your savings. Make sure you’re putting money away for less frequent expenses, like medical copays, vet bills, car repairs, and emergencies. Knowing that you can cover unexpected expenses will give you peace of mind.
[Free Guide to Building Healthy Habits]
Step #3. Curb Spending
Tracking your daily expenses will help you stay within your budget boundaries and reduce impulsive spending. Consider enlisting a friend as an accountability buddy and help each other curtain spending sprees and maintain thrifty habits.
Step #4. Model Good Habits
Talk with your kids about the changes you’re experiencing and help them learn to make good financial decisions. Suggest that they do extra chores around the house or walk a neighbor’s dog to earn some money of their own. Model better spending and saving habits for your kids now to help them become responsible money managers in the future.
Financial Freedom After a Divorce: Next Steps
- Read: You’re Four Steps Away from Your Financial Security
- Webinar Replay: “The Social Traps That Snare ADHD Adults”
- Read: “How Do I Support My Child with ADHD During Our Divorce?”
Stephanie Berman in a money coach. She owns Berman Budgeting Basics, LLC, in Washington State.
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