Young adults financial planning

Would it be possible to set up all her bills and savings to be paid through standing orders or direct debits, say the day after she is due to be paid each month? That way, her essential outgoings will be taken care of and the remainder of her money will be disposable income to spend as she wishes on food and other things.

I’m pretty savvy with money and budgeting, but even I find it less stressful and anxiety-inducing knowing all my income comes in on the last day of the month, and all my bills and savings are automatically taken out within the first few days, so whatever is left is mine to spend as I wish (admittedly, I usually just end up saving that too, but at least I have a clear choice). I opt for fixed monthly tariffs on my phone and all my utilities so there aren’t any unexpected variables to deal with. I have a credit card but rarely use it because it stresses me out that it is a variable amount to pay at a non-standard time of the month (I think it’s something like the 22nd).

It might also help her if she registers for internet banking and installs her bank’s app on her phone. It’s then really easy to check your bank balance, see when bill payments are due to go out, and view the balance of any linked savings account. A lot of banks also let you set up alerts if you’re running low on money etc. which will send a text message to your phone. You could then agree a plan with your daughter as to what she needs to do if she receives one of those messages (e.g. talk to you, review her spending, see if she made an impulse purchase that she should have saved up for first). Does your daughter understand the implications of failing to pay bills? If she’s always lived with you she may take for granted a roof over her head and an absence of bailiffs at her door.

Maybe you should make an appointment with a branch advisor at her bank and the three of you discuss how best to help her manage her money? At least then the bank would also have a record of her autism and be obliged to comply with disability laws in their communication and management of her account.

Hope that helps a bit?

If she's struggling with basic numeracy skills have you looked at the possibility of her having dyscalculia? If this is the issue she may benefit from one-to-one tuition with a specialist tutor. A small number of sessions could be funded through A2W if she is in employment.

I'm normally an excellent saver but there have been times in my life when my mental health hasn't been great and I've been reckless with my spending. When I've known I've lost control I have put savings accounts in the names of people I trust to prevent easy access to this cash. This may be something to consider whilst she's developing her own skils? Individuals with an SpLD, such as dyslexia or dyscalculia, tend to develop new skills more effectively when a 'little and often' approach is taken. Therefore, giving her one task to master at a time, such as only focusing on her phone bill, is likely to work better than her having to manage multiple tasks from the get go.

That is tricky because she has to take responsibility herself. A calendar with clear markings for bills pay date and phone reminders would be something but probably you do that. There is this YouTube channel called "The Financial Diet", they give a lot of advice about organising your personal finance. If she enjoys game elements, there is an app/page called Habitica, that helps organise your life and turns it into a kind of game with rewards.

Is it something specific that she is spending money on that is a problem? I used to spend too much on clothes when I was trying to be someone I was not. I cut that out pretty much completely. These days I only spend a little too much on getting food delivered to me when I don't want to leave the house or cook.