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Struggling with Finances: Middle-Aged, Single, and Managing Severe ADHD

I’ve reached a breaking point—earning a good income and yet grappling with mounting debt, stress, and heartache. My financial situation has been chaotic for as long as I can remember, swinging from one crisis to another. Frankly, it’s exhausting not knowing where my money disappears, or why I struggle to manage it effectively.

I’m considering hiring a bookkeeper to ensure my bills and taxes are paid, savings are set aside, and to allocate a small personal allowance.

What I’m wondering is whether this falls under the scope of what a bookkeeper typically handles? Furthermore, would it be prohibitively costly? Despite earning a decent salary (around $120k), I’m so far behind that it feels like I’m treading water. Ideally, investing in professional assistance would save more than what I currently squander on late fees, penalties, and similar expenses.

Do you have any recommendations on the type of professional who could assist with these financial challenges?
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Managing finances can be challenging, especially when dealing with ADHD, but it’s great that you’re seeking help. Here’s a detailed breakdown of your options and some steps you can take:

Is Hiring a Bookkeeper the Right Choice?

A bookkeeper can indeed help manage your finances, but it’s important to understand the typical scope of their services:

Record Keeping: Bookkeepers can organize and record your financial transactions, ensuring all bills and taxes are recorded.
Budget Management: They can help track your income, expenses, and budget.
Invoice Management: They can ensure your bills are paid on time to avoid late fees.

However, bookkeepers typically do not provide personal financial planning, investments advice, or broader financial strategy planning. They handle the day-to-day tracking and recording of financial data.

Costs of Hiring a Bookkeeper

Hourly Rates: Bookkeepers usually charge between $20 to $50 per hour, depending on their experience and location.
Monthly Fees: Some bookkeepers offer monthly packages which could range from $200 to upwards of $600, depending on the amount of work and complexity.

Other Professional Help to Consider

Certified Financial Planner (CFP):
Role: A CFP can help you understand where your money is going, create a budget, and set financial goals. They are more focused on financial planning and strategy.
Cost: Typically, they charge around $150 to $300 per hour. Some may have a flat fee package depending on your needs.
Financial Coach:
Role: They specialize in helping people with financial behaviors and might be particularly helpful considering ADHD. They offer strategies on budgeting, spend tracking, and financial goal setting.
Cost: Prices can range from $75 to $200 per session.
Personal Accountant or Tax Professional:
Role: They can help with tax-related issues and planning to ensure you meet all tax obligations efficiently.
Cost: Services may vary widely, but expect to pay between $200 to $500 for comprehensive tax services.

Next Steps for You

Assess Your Needs:
Start by listing the specific challenges you’re facing. This will help you decide which professional will best meet your needs.
Consider Combined Services:
You might benefit from a combination of services. A basic package with a bookkeeper and a few sessions with a financial planner or

One response

APAdmin

26 February 2025 at 2:24 PM
Managing finances can be challenging, especially when dealing with ADHD, but it’s great that you’re seeking help. Here’s a detailed breakdown of your options and some steps you can take:

Is Hiring a Bookkeeper the Right Choice?

A bookkeeper can indeed help manage your finances, but it’s important to understand the typical scope of their services:
- Record Keeping: Bookkeepers can organize and record your financial transactions, ensuring all bills and taxes are recorded.
- Budget Management: They can help track your income, expenses, and budget.
- Invoice Management: They can ensure your bills are paid on time to avoid late fees.
However, bookkeepers typically do not provide personal financial planning, investments advice, or broader financial strategy planning. They handle the day-to-day tracking and recording of financial data.

Costs of Hiring a Bookkeeper
- Hourly Rates: Bookkeepers usually charge between $20 to $50 per hour, depending on their experience and location.
- Monthly Fees: Some bookkeepers offer monthly packages which could range from $200 to upwards of $600, depending on the amount of work and complexity.
Other Professional Help to Consider
1. Certified Financial Planner (CFP):
2. Role: A CFP can help you understand where your money is going, create a budget, and set financial goals. They are more focused on financial planning and strategy.
3. Cost: Typically, they charge around $150 to $300 per hour. Some may have a flat fee package depending on your needs.
4. Financial Coach:
5. Role: They specialize in helping people with financial behaviors and might be particularly helpful considering ADHD. They offer strategies on budgeting, spend tracking, and financial goal setting.
6. Cost: Prices can range from $75 to $200 per session.
7. Personal Accountant or Tax Professional:
8. Role: They can help with tax-related issues and planning to ensure you meet all tax obligations efficiently.
9. Cost: Services may vary widely, but expect to pay between $200 to $500 for comprehensive tax services.
Next Steps for You
1. Assess Your Needs:
2. Start by listing the specific challenges you’re facing. This will help you decide which professional will best meet your needs.
3. Consider Combined Services:
4. You might benefit from a combination of services. A basic package with a bookkeeper and a few sessions with a financial planner or
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Middle-aged, single, severe ADHD…my finances are a mess. Is there help??

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