A life affected by substance abuse can damage your financial health. Compulsive misuse of drugs and alcohol can lead to the neglect of important money matters.

People with addiction frequently forget how to keep track of rent or credit card payments. They make frivolous purchases while under the influence. They may lose perspective about how much money they owe to student loans, mortgage providers, or how far behind they are with child support. In the grip of active addiction, the only thing that often matters is a continuous drug and alcohol supply.

And that supply can be expensive. Addicted people may become used to allocating the majority of their assets to acquiring drugs and alcohol with little regard for the consequences—that is after all the nature of the disease. If legal problems ensue, serious debts pile up.

Mounting financial difficulties are likely to cause intense stress—a trigger for further substance use. Abstaining from drug and alcohol use is only the first—albeit most important—step in the recovery journey. After getting sober, people in recovery have to learn how to get their lives back in order. Often, that includes acquiring or reacquiring financial literacy.

It’s not an easy task. People in early recovery who are struggling to stay sober, and who have financial issues weighing on their mind, may feel that getting their life back seems impossible. But with appropriate education and a solid plan, they can get their finances under control.

Encore recognizes that financial health is a key component of recovery, stress management, and well-being. We help clients acquire a greater understanding of money matters, and the discipline to achieve financial goals. We work with clients one-on-one to address banking, budgeting, debt, credit, saving, investing, and much more.