Search

Budgeting and Dyslexia

Ways to make budgeting less scary with April and Joachim Stroink.

This week the Hive had a genuinely incredible master class. We had the pleasure of speaking husband and wife with Joachim and April Stroink. April has worked in the financial industry for over 20 years and now helps couples level up their finances. Joachim is a community builder, entrepreneur, and former member of the Legislative Assembly for Halifax Chebucto.

April and Joachim talked to the Hive about money management, financial health and how they manage money in a relationship where one member has dyslexia (Joachim), and another does not (April). We want to walk you through 4 of the most important concepts we walked away with.

1. Ditch the word Budget:

Budgeting (like diet) has a restrictive and negative connotation. Change the narrative and language you use regarding money, and try building a "Spending Plan." The psychological shift from this simple change can lead to better financial health and a happy mindset.


2. Money = Feelings:

Emotional spending is one of the reasons individuals get into financial trouble. We are not saying stop emotionally spending. We are saying spend smarter and with a plan. Take a look at your last 4 months of expenses and categorize your spending. From there, find the purchases that bring you joy and build them into your plan.


3. Say Bye-Bye to Credit Cards:

Move to a cash-only system. Why? The average credit card user spends 120% more when using a card. Now couple that overspending with dyslexia/dyscalculia, and you are destined to fail. Keeping track of spending is generally done using working memory, which people with dyslexia struggle with. By switching back to physical money, you can see how much you are spending and how much is left. If you can not go cashless, try preloaded debit cards or gift cards.

4. Create a System:

Make a plan and stick to it. Sticking to a schedule is hard for individuals with dyslexia (and ADHD), but it is one of the most crucial parts of being financially healthy. Create a system that works for you. Maybe that is treating yourself to a weekly coffee and spending 30 minutes reviewing your spending plan, or perhaps you check your plan only during the full moon. All that matters is you make a plan that works for you and stick to it!


If you found this article useful or have tips and tricks on how to manage money as a dyslexic, be sure to drop a comment below.

116 views1 comment