ADHD and Money: Why Bills Feel Impossible (+ 12 Tips That Actually Work)

Hi, my name is Ariella. I have ADHD, and I'm really bad with money. I'm not alone. Clinical studies prove that people with ADHD are more likely to struggle with their finances. My money problems started in the mid-90s when I was blowing my allowance on Tiger Beat magazines. It was really validating to learn how much of that was exacerbated by undiagnosed ADHD.

The fine print:

I'm not at all qualified either academically or professionally to give financial advice, and readers should consider this a jumping-off point to seek out information from more qualified sources. Financial information and advice are provided by and to people with a certain amount of financial privilege. How ADHD intersects with money is just one part of an extremely nuanced conversation about money.

Listen to the Episode on ADHD and Money

How ADHD Worsens Financial Challenges

Executive Dysfunction

Executive functioning is the skills that help you set and carry out goals. People with ADHD have impaired executive function, and many of our money challenges are rooted in these symptoms.

Disorganization

Examples:

• Chaotic filing systems

• Losing invoices, bills, and paychecks

• Piles of mail on the counters

  
  

Task initiation

Examples:

• Put off handling your bills because it’s multiple tasks in one task

• You would literally rather do anything else because it triggers shame, guilt, and anxiety

  
  

Time blindness

Time is meaningless, and everything feels like it’s a priority that needs to be done immediately. Or nothing is a priority, and it never needs to be done.

Examples:

• Get a bill and set it aside to deal with later. Suddenly, later is three weeks.

• You know you should be squirreling money away for large expenses way off in the future, but you get more dopamine by planning a weekend getaway for next month.

  
  

Impulsiveness

People with ADHD have brains that don't make enough dopamine. Not having enough dopamine means we're always looking for more. That's why we do impulsive things—it's literal thrill seeking.

Examples:

• Seeing a video about embroidery, and the next day, spending an entire paycheck on materials

• Buying seven new books at the book fair is way more fun than saving for retirement

• You brought your lunch, but your coworkers ask if you want to go out (this right here could have diagnosed me in my early 20s)

• Basically, any in-person shopping experience, specifically in the days before we stopped going to Target

  
  

The ADHD Tax

This is a term for all the extra money we pay as a result of our ADHD symptoms.

Examples:

• The fresh produce that never gets used/eaten

• The late fees for paying a bill after it was due, and the additional fees for overdrawing your account

• The increased interest rates because those bills ended up in collections

• The buying of a second item because you lost the first

Give These Ideas a Whirl 

1. Work with a financial planner or financial coach to figure out your long and short-term goals and establish a personalized system to help you achieve them.

2. Budget and home finance apps. Can’t recommend any personally, but there are tons out there. Ask your neurodivergent friends for recommendations. Caitlin uses NerdWallet.

3. Use two checking accounts. Have your paychecks direct deposited into one account and use that one for all of your regular monthly bills. Set all of those bills on autopay.

   Use the other account for daily and non-essential spending. This is the one you'll use to buy groceries, pay for doctor visits, or grab lunch with friends.

4. Use a reloadable debit card or something similar for fun/nonessential spending. Load a specific amount onto it, and that's all you have until the next pay period. These often have fees attached to them, so shop around and read the fine print. Or, if one particular store is your weakness, do the same with a reloadable gift card to that one store.

5. Turn off auto-renewal as soon as you sign up for a (nonessential) subscription.  That free week is going to turn into a paid month in a blink.

6. Establish a waiting period or 'buy days' for nonessential items. Maybe you wait 24 hours or only make purchases on Sundays. Then you can reevaluate if you actually want the item or if it's something that can wait.

7. Visual wish lists. Pinterest is still pretty good for this. If I'm out somewhere, I'll take a picture of the item and add it to a running list on my phone. I also added notes about why I wanted it because I'll definitely forget the minute I get home.

8. Cancel. Amazon. Prime. Having to wait longer for something or pay for shipping will definitely slow down your impulsive spending if this is one of your challenges. We cancelled Prime in January and reduced my impulsive spending immediately.

9. Body double with a trusted friend or your therapist to get through your doom piles or any other loathed financial task. I went through a stack of mail with my therapist a while back, and she helped me process a lot of the emotions that came up while I was doing it.

10. Use that divergent thinking of yours and figure out some strategies that actually work for you. Examples: 

    1. If a digital calendar is too out of sight, out of mind, use a paper one

    2. I hate spreadsheets, so I track all of my business expenses using a Google Form, and the form turns it into a spreadsheet 

    3. Put your produce in the door of the refrigerator instead of the crisper drawer. At least then, when it starts to rot, you can throw it away before it turns into a pile of goo...

    
    

11. Take advantage of pathological demand avoidance. It's equal parts infuriating and fascinating how retail companies manipulate us into spending money. A lot of the things we love about online shopping were specifically put in place to get us to buy more. The system is built around our human need for instant gratification. So, give in to your urge to be petty. Don't let the system manipulate you out of pure spite. If Big Box Store XYZ wants you to add $15 to get free shipping, don't. Don't tell me what to do, Big Box Store! You're not my mom!

12. Work on a Mindset Shift Sometimes it helps to look at certain ADHD taxes as an accommodation that helps us save money in the long run. Or, put another way, and perhaps more importantly, sometimes, an ADHD tax allows us to exist with a little less stress in our lives. For example:

    1. A chopped salad kit is more expensive than buying all the ingredients separately. But all the separate ingredients are more likely to get tossed in the trash than the chopped salad kit that I just need to dump in a bowl. 

    2. The frozen breaded chicken tenders I like are more expensive than the baked chicken my husband preps, but the breaded chicken is more enjoyable on my salad, and I’m more likely to eat it.

    3. Buying double of the things that you regularly forget means you can keep one with you all the time.

Got a money hack?

Is there a money strategy that works for you? Tell us about it in the comments or slide into our DMs.

Yours in better financial planning,

Ariella

Sources & Mentions

chadd.org

Managing Money and ADHD - CHADD

Managing finances can be a challenge for people with ADHD. The symptoms of procrastination, disorganization, and impulsivity can create problems with finances. The following fact sheets provide strategies, tips and resources that can help with successful money management: Managing Money and ADHD: Expenses and Goals Managing Money and ADHD: Minding Your Debts Managing Money and…

www.theminiadhdcoach.com

Mastering Money Management with ADHD: Practical Tips for Adults

Explore how ADHD affects finances and learn key strategies to save, address symptoms, and manage money better. Perfect for adults and parents seeking stability.

www.verywellmind.com

Sometimes, ADHD symptoms come with expensive consequences.

The ADHD tax refers to the financial consequences of certain ADHD symptoms. Here’s how to avoid paying it and some realistic strategies for regaining control of your financial health.

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