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ADHD my life

Finances

Taking care of your finances is important, specially as something that you want to not have to think about. For that is important planning which is hard specially for ADHD. I divided in to 3 areas:

Day to day management - keeping track of your day to day

Budget/ year planning - make a budget for your year to know how much you can spend

Long term financial planning - how to plan for your retirement

Day to day management

Goal: I have control over my expenses and know where the spending is happening and have tips and tricks on how to save money.

System to keep track: using Toshl Finance to keep track of the expenses

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toshl.com/app⁠

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how do i make sure that things are tracked correctly

Review everyday yesterday expenses and make sure they are in the correct order

Do it as part of the morning routine

Expenses categories

Principles:

Categories should allow to be useful for budget/expense tracking

How to think about category vs tag

Categories are unique, so they are needed for budgeting your total amount; things that might be substitutable (eg. going out for museum or cinema) should be in same category

Tags allow 2 goals

subcategories of categories (eg. sportsequipment in clothing)

tags across categories for particular insights (weekendgetaway for weekends away)

How to think about yearly vs monthly expenses

Month budget should be only recurring things that happen in the same month

How to save money

Principles:

Saving is only relevant if total cost is considered

cost of time: how much more time i need to spend for getting that saving and what is the cost of that time

cost of money: if i need to put a lot of money upfront for a 1% savings (money would be better invested)

extra costs: if i need to drive it costs extra gas

Always on the look for opportunities, specially quick wins

Areas to look for

Recurring purchases (like grocery items that are non perishable)

Big ticket items -

Recurring memberships / cots

Loyalty programs/coupons on places you shop frequently

research how to maximize Pingo Doce/ Continente

Talk with my father, research online

Taxes opportunities

Research tax breaks

Budget / Yearly planning

Goal: I am able to successfully manage my cash inflows/outflows to achieve my goals

Breakup budget:

Monthly budgets

Food/Groceries

House

Leisure

Annual budgets

Travel/Vacations

Health

Stuff

Long term financial planning

Goal: I get to a point where I have financial freedom

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https://www.reddit.com/r/Fire/⁠

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https://networthify.com/calculator/earlyretirement?income=100000&initialBalance=600000&expenses=80000&annualPct=5&withdrawalRate=4⁠

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Saving $20k / year would allow to get financial freedom at 50 (getting 100k/year)

Saving/retirement plan - model

what to do with 401k

what to expect if anything from Portuguese reform - probably nothing

what incentives (PPR) exist in Portugal for investments

Investments (how to manage)

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https://jlcollinsnh.com/2012/05/09/stocks-part-v-keeping-it-simple-considerations-and-tools/⁠

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Day to day management

Budget / Yearly planning

Long term financial planning

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