Figure 1 (Above) shows the accounts held by the vulnerable person, and their level of access to the accounts which exist in their names from their perspective. Figure 2 (Below) shows how the Finances of the household can be structured in order to ensure the financially vulnerable person has a level of day to day financial independence while ensuring they are able to achieve savings goals, ensure household bills and loans are paid as the highest priority i.e. without sacrificing the household financial stability. These practices are NOT about a 3rd party “controlling” the finances of the vulnerable person, Rather it is simply to hand the keys to someone else. By placing the requirement on yourself to take the time to approach someone else, voice your need in order for them to facilitate access to your additional funds and saving’s it can greatly reduce the impact of impulse buying. It requires the assistance of a very trustworthy person, who will not abuse their position, perhaps a friend, flat mate, family member, wife, husband, life partner, son, or daughter. Taking the time to sit down perhaps every 3 months with your trusted person and calculate the average periodic costs of all regular bills and calculating how much should be paid each pay period in order to keep a bill ”paid” can help in calculating periodic payments. If you schedule (using internet banking features or direct debit) regular automatic payments off each of your bills each pay period, you will find you will only be left paying the variation in your “bill” each time it arrives, this assists in reducing “stress” a common Bipolar disorder trigger and minimises “seeing” your growing or shrinking balance while ensuring you do not sink too deep.
There are also options available through your bank or social worker called income quarantining or management which are available.