Trying to do Better With Managing Finances and Seeing the Big Picture
Today, we’re going to discuss trying to do better with managing finances and seeing the big picture. When one has NLD it’s difficult to see the big picture because we tend to focus on the small details in life. The following quote is from “Understanding Nonverbal Learning Disabilities” which is by understood.org and it describes what challenges NVLDers experience.
(quote) “Abstract thinking: Trouble with reading comprehension and understanding the “big picture.” Kids may be good at memorizing details but not at understanding the larger concepts behind them. They may also have trouble organizing their thoughts.” (end quote)
I can definitely relate to this because for me since I have NLD it’s not natural for me to see the big picture of things. It’s more natural for me to see the small details or what my family likes to call the ladybugs, not the forest, branches, or trees. This doesn’t mean that I can’t train my mind to see the big picture though. I have been doing this by helping myself learn how to manage money.
I used to have a decent amount of credit card debt from irresponsible spending but I was able to pay it all off earlier this year! It felt really good to get rid of the debt even though it wasn’t as bad as student loan debt. It still felt heavy to me. Once it was gone that heaviness and weight were lifted off my shoulders, this has continued to happen because I’ve been able to stay out of debt since I’ve paid it off! I want to congratulate anyone else that has been able to do this same task whether it was from irresponsible spending, student loan debt, or any other kind of debt. If you have paid it off and kept yourself debt-free since then, good for you! And if you’ve been saving money to pay that debt off while living on your own, I also want to acknowledge that because I can imagine that isn’t easy to do.
Ever since I paid it off I have been saving my paychecks towards retirement, emergency, car insurance, and a deposit for my first place of my own. I have been saving 10% of my paycheck for retirement in a ROTH IRA. I have been saving 15% towards rent, 20% towards car insurance, and 25% towards emergency funds. I was able to achieve my goal of saving enough money for an apartment that would cost $21,000 for a deposit. Consequently, I increased my percentages for my other areas of savings each by 15%.
I also reimburse my parents for prescriptions and toiletries that they buy me. This helps me be aware of what those things cost. It also helps me be aware of what money is leftover for me to save. I wouldn’t have been inspired to do any of these practices if I hadn’t grown up in a household that had frugal spending practices. I also took a personal finance class in college. This helped me learn many things that I didn’t know. I took this class as a recommendation from my older brother who also went to UC Berkeley. I learned many things in this class such as the difference between a debit and credit card, about loans, bonds, ROTH IRAs, 401Ks, and Traditional IRAs. They should have this class in high school because not everyone attends college. And if you are curious, the textbook from this class is titled “The Missing Link” by Fred Selinger.
This article titled, “Living Independently With Non-Verbal Learning Disability '' by Laura Lemle Ph.D. talks about the challenges that NVLD presents when her daughter tries to live on her own and go get her masters.
“Other challenges include managing her budget. Unlike others with NVLD, math is not a challenge for her. However, budgeting her money is not the easiest thing for her to do. This is a constant and she has to pay close attention to the money she has. She has managed to stay within her limits because she has to, but she does not always plan optimally.”
I remember when I was in college I had challenges with setting limits on how I would spend money. Often I would go over my monthly allowance in the first year or two of college but once I got a better understanding of the value of money and things I was able to control my spending better especially when I was living in my apartment with a couple of girls and my dog. I needed to learn how to take care of myself and my dog Truffles. If I tried to keep track of what I was spending while in the store and make sure that it was a necessity then that made it easier for me not to overspend on my budget. I am trying to say here that when I went grocery shopping I would keep track of how much each item in my cart cost. This way I would know how much I was spending in total and if I was under, at the right amount, or over budget. I would also check how much was left in my checking account so I would be aware of how much I had left to spend for the rest of the month. I also tried to keep in mind the other things that I would need to buy for the rest of the month so that I would have money for those things. This wasn’t easy for me to do because of the executive functioning and planning ahead involved. Those skills don’t come naturally to NVLDers.
Also once I started boarding at the co-ops for food it got easier for me to manage my monthly budget because I could get most if not all of what I needed from there for the month. If they didn’t have something I wanted I would buy it from the store if it was something that I really thought I needed like toiletries since that is a necessity. I also would go there for dinner each night and was able to save my leftovers for lunch the next day. This helped me save time and money because then I didn’t have to worry about not having food for lunch the next day. As long as I brought the container of leftovers with me in my backpack for my afternoon class I was set for lunch. I would do a similar thing with breakfast. I would fix it before leaving for my morning class and often eat it as I walked to class. I would do the same thing with snacks that I may want to have with me on campus. I would put them in my backpack so that I wouldn’t have to spend money on them or go back to my apartment. It was much easier for me to stay focused in my classes if I wasn’t hungry or thirsty while I was in them.
My brother, Johnathon also went to UC Berkeley and ever since he graduated from there in 2013 he has been living on his own and been able to manage his finances really well because he created a budget that works well for him. He has been my inspiration to do better with managing my money. He helped me with creating my own budget that I have been using while I live with my parents. I have lived with my parents since I graduated from college in 2018 because I have NLD. I need more preparation for living on my own than neurotypicals do.
I have set $100 as my monthly budget for spending. Since I’ve been out of debt, there have only been a couple of months that I exceeded that amount. I did that because I had a personal thing come up like going to a doctor’s appointment. I also started the website for this podcast, but those expenses were definitely worth it. They were not irresponsible or impulsive as I had done before I paid off my debt. And I also wanted to share with you that I’m trying to save money for a new car. I’m doing pretty well with it by looking at the different safety features I want to calculate how much I need to save. Originally $10K or $15k was my goal but now it's $20K or maybe $30K because the original amount wasn’t enough. It is more expensive because I want a fully electric car with more tech and safety features in it than my current car.
Whether it’s trying to deal with trying to do better with managing finances or seeing the big picture, I and others who have NLD still struggle with issues today. I would like for you to think about the challenges you might have with managing money or seeing the big picture. I would suggest taking a personal finance class or reading a book on it to help you get better at it.
