ADHD: It's time to talk about how bad we are with money

When neurotypical people go shopping it is generally a mundane ritual where a carefully curated shopping list is in place or some dinner ideas are in place at the very least.

For some of us with ADHD it can feel like a 3 year old has been given free reign at the sweet shop. Impulse control goes out the window and every product looks like a potential must have.

ADHD and financial health

The sad truth is that living with ADHD often leads to bad outcomes financially. Research conducted by YouGov on behalf of Monzo bank showed:

• Those with ADHD are four times more likely to frequently impulse spend (48%) than those that don't have the condition.
• This leads to people with ADHD being three times more likely (31%) to struggle with debt.

Money Anxiety

Money is one of the biggest stressors for everyone but the damage of not being in control of how you spend leads to pretty bad outcomes. Not least feelings of anxiety and depression related to money.

• We're twice as likely (76%) to suffer from anxiety linked to finances compared to the general population (38%).

More scary data

It doesn't stop there, we are worse in just about every aspect of financial health when compared to the general population:

• Three times more likely to miss bill payments occassionally or often (49%)
• Three times more likely to find it difficult to stick to a budget (50%)
• Two thirds of those with ADHD say it makes managing finances more difficult (65%)

Conclusion

It is time for those of us who suffer with ADHD to be as vocal as possible about our unique struggles with money. There will be people out there labelled as "bad with money" who feel shame and embarrassment that desperately need to hear they are not alone.