For those in recovery, money can be a trigger. Whether it is the influx of cash that was previously spent on substances or the realization that your addiction led to debt, you will benefit from managing money. Here are five tips to get you started and maintain financial savviness: 

1. Create A Budget

Feeling a sense of control when it comes to finances can be beneficial during recovery because you may feel slightly out of control in other aspects. Mapping out a monthly budget that includes how much money you currently have, how much you expect to earn from employment, how much you owe back in debts, and how much you need to spend on bills and other necessities like groceries and housing can help you budget correctly. You won’t have any surprises at the end of the month if you can accurately budget.

2. Learn The Difference Between Needs and Wants

MONEY MANAGEMENT TIPS FOR RECOVERY AND BEYONDChances are your past spending was focused more on things you wanted rather than things you needed. During recovery it is important to differentiate between the two and try to only spend money on the essentials and self-care. This will be an adjustment and you might be especially prone to isolation during this time. To combat this, Activities like inviting a friend over for dinner can help distract you. You will save money by eating at home and you will have companionship.

3. Set Short Term and Long Term Goals

It can be almost second nature to substitute an addiction with poor spending habits. By establishing goals associated with any earned and saved money, you can better plan for the future. For example, you could set a short-term goal to save enough money for a new outfit you have been wanting and a longer-term goal to save enough for a vacation, educational course, or automobile. By setting these goals, you will be less likely to waste money on unnecessary things because you have something to work toward. Refer back to those goals on harder days to reaffirm your commitment.

4. Store Money In A Safe Place

It can be tempting to have money easily accessible, especially in the early phases of recovery. You might find the best option is to store your excess money in a bank account that does not have an ATM card affiliated with it. You would have to take the extra step to actually go to the bank if you wanted the money, which might deter you from spending it. As an alternative, having another person, like a trusted friend or relative, keep your money can prevent you from abusing it.

5. Find Financial Resources

There are numerous smartphone apps and websites that specialize in helping you manage your money. You can also look into money management seminars or financial counseling to help you plan for the future.

Addiction Treatment Center in California

At Asana Recovery, we understand that money management might be a concern for you and we want to remove that concern before it becomes a barrier. You aren’t expected to complete any other aspect of recovery on your own and this is no different.

We have a team of dedicated professionals at Asana Recovery that can help you develop basic financial skills and will continue to support you in making healthy and wise money decisions throughout your aftercare. Call us today at (949) 438-4504 to learn about the full range of services we offer, including detox and residential treatment programs.