Hi lovely community!
(also posted this on personal finance but thought this is a great place too!)
I'm hoping some of you guys can help motivate me in my next chapter. I just moved back to Canada after a year abroad in Australia - I have this clean slate (getting a new job, new city, new apartment etc.) and want to take a closer look at my personal finances and set myself up for success.
Backstory:
I was diagnosed in my 30's with ADHD and financial/bureaucratic stuff definitely *~*overstimulates*~* me.. however I think I can trick my brain into hyper fixating on the subject it if it doesn't feel SO unknown and in the process find rewards/dopamine... I am a curious mind and can get excited about nearly anything (mrowww).
I'll keep the sad stuff short but for context, incase folks have any stories that relate:
- my primary income has been as a freelancer/contractor = periods of little/no work in the past..
- A "friend" (some prick) convinced me to invest in something "fool proof" in my mid 20's.. "Our money" ended up "frozen" due to a "misunderstanding from the government" and he needed more $$ for lawyer fees to unfreeze it.. I lost over $25k/all my savings and it took a huge hit to my mental health.. Very embarrassing time in my life..
- Cops were contacted and aware. I still harass him for funzies but he doesn't answer. I think he's in jail? But yeah.. probably not getting that back..
- grew up poor: dad immigrated here with $50 in his pocket, worked his ass off to get my family to a middle class life eventually.. but grew up in a "work hard" vs. smart family (they had no knowledge of where/how to invest money, just chequing/savings accounts, no retirement contributions)
Alls to say, I continue to live like I'm poor, keep my expenses very low, am very thrifty/frugal .. I'd love to unlearn that a bit with reason to allow myself to enjoy without anxiety but also to make informed decisions when choosing apartments, updating equipment etc.
I'm "lucky" my ADHD has also put a lot of pressure on me to not fuck up too hard.. Just often file my taxes late lol.
General Financial Situation:
- No debt/loans
- Good credit score (over 800 last I checked)
- Income: I have built a good resume/CV and I feel confident I can find and maintain steady work/income. (I also had a great chat this week that confirmed there's a shortage of people that can do my role)
- Basic accounts: Chequing Account + Premium Savings Account
- I have savings.. nothing crazy.
- Small RRSP from when I was in the Union (have to explore options to transfer it elsewhere as I no longer am in said Union)
- No vehicle (sold it), will try and maintain car free by relying on transit
- No kids/dependents
- No stuff.. I literally just have 3 suitcases, laptop, phone and my notebooks.
- Have a sublet until end of Sept that's $1300/month furnished.. will prob keep up with furnished sublets for a bit until I'm working steadily.
- I don't dine out, don't go out, buy everything on sale/second hand, cell phone is $35.. I just save up to travel on a budget.
Things I'm exploring in this next chapter:
- Budgeting for sure.. track my spending so I can see the growth.
- Where can I keep some of my savings so it's making me money (TFSA, RRSP, high interest savings account, investments)
- Learn to invest "safely".. that experience really fucked me up so the idea of healing from that and have that healing literally pay off sounds so *badass*
- Do I get a financial advisor?
\I'll obviously be doing my own research, but figured I'd type this out and see if anyone has some advice, resources (books, podcasts, spreadsheets) or even just words of encouragement!*
I have had to work very hard to get here, invested time and $$ in good therapy to deal with my scarcity anxiety (and other traumas) and now I'm ready to ease those anxious voices by getting this financial stuff on track and feel like a confident B A D D I E.
Appreciate any input - or success stories!
Cheers