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ADHD and Money: What You Should Know

June 13, 2024
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4 mins


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Living with ADHD is tough – especially when it comes to managing money. With an increasing number of adults being diagnosed with ADHD, financial patterns are emerging that show the effects of ADHD and money. 

If you’re living with ADHD (or suspected ADHD), here are some tips you may find helpful when it comes to managing money. 

Why do some people with ADHD struggle with money management?

When it comes to ADHD, every case is different. While not everyone with ADHD will struggle with money management, it is a common aspect of the condition. Those living with ADHD have brains that are wired a little differently, which makes them more susceptible to disorganisation and impulsivity. 

Let’s take a deeper dive into what specifically people with ADHD might struggle with.


Perhaps one of the most challenging struggles of those living with ADHD is impulsivity, which can directly result in impulsive spending and the search for instant gratification. This impulse buying (often on purchases that are regretted later) offers a temporary dopamine boost but can result in significant damage to someone’s bank account. Long-term impulse buying can amount to little to no savings, mounting debt and ongoing financial struggles. 

Executive functioning 

Another aspect of your brain that ADHD affects is your executive functions – specifically your planning and organisational functions. Cognitive hurdles such as these can make it challenging to handle finances efficiently, and things like remembering to pay your bills on time may be compromised. 

Managing paperwork and due dates 

Keeping track of bills and receipts can be tricky for people with ADHD. Paper copies can be scattered everywhere, and digital versions can be lost. This can result in missing payment due dates and difficulty finding required documents. 

Juggling needs and wants

While everyone can sometimes appreciate the difficulty of balancing non-essential wants and essential needs, people with ADHD often have trouble distinguishing between the two. This stems from how the ADHD brain processes information and prioritises tasks. 

Managing your finances with ADHD

Now that we’ve looked at some of the struggles, it’s time to look at some solutions you can implement to manage your money better. 

Practice long-term planning

Not engaging in long-term planning can impact everyone’s financial situation – not just those living with ADHD. Long-term planning goes beyond the near future; it extends to retirement. While many of us are guilty of neglecting our super funds, it’s crucial to start planning for the retirement you want early on. Our Inovayt financial advisors know how to create a financial plan tailored to your needs and can set you on the right path to retirement. 

Create a simple budget

Budgeting looks a little different for everyone, and there’s often no right or wrong way to do it. While some prefer a complex spreadsheet, others may prefer a handwritten list. Remember, it’s about doing what works for you rather than what you think you should be doing. 

A budget is simply a way to look at where your money is going, as many people with ADHD often feel as though they don’t know where their money is going. If this sounds all too familiar, Set a recurring time each day to sit down with your bank account and review your daily transactions. You may be surprised by where your money is going and how quickly the small things add up. 

Need a hand creating a budget? Download our free budget planner today. 

Cut out the clutter

Clutter can make managing money a problem for those with ADHD. For this reason, overhaul your system and find something that works for you. Before chatting with a financial advisor, pull out any paper documents and ask if they need to be kept or if they can be shredded. 

Next, look into setting up digital bills to reduce the amount of paper you receive (and, therefore, can be misplaced!). By reducing paper piles, you’re one step closer to having a functional system. 

The next step is to set up direct debits for as many of your bills and payments as possible. Automated bills are the perfect way to ensure you’re paying on time and not worrying about making manual payments. 

If having a lot of outgoings is making it difficult, try discussing debt consolidation loans with an Inovayt financial advisor. These loans combine all your existing debt into one big debt with a single repayment. 

Read more about debt consolidation loans via our blog

Gain control of your impulse spending 

Lastly, gaining control over your impulse spending is a must. Unfortunately, quitting is easier said than done! If you’re trying to quit cold turkey and are limiting yourself to not spending anything, there’s an increased risk of finding that one day you have to spend and go on a huge spending spree. Not only is this not good for your bank account, but it can also bring feelings of guilt and overwhelm.

So, rather than trying to quit immediately, be more mindful of your spending. For example, before you go through the checkout at the shops, take a minute to look in your trolley and see if there’s anything in there that can be put back. If you know your impulse spending is focused or what triggers it, find a system that works for you, whether that be calling a friend as a distraction or only carrying enough cash to buy what you need. 

Can an Inovayt financial advisor help me manage my finances?

At Inovayt, we’ve worked with people from all walks of life. Our team has extensive experience with clients – including those with ADHD. We want to empower our clients to make informed decisions, so we work with you to find financial solutions that best suit your lifestyle. If you’d like to chat with an Inovayt professional, get in touch today. 

Need help managing your finances? Reach out today


Start your journey, contact Inovayt today

Start your journey, contact Inovayt today

Start your journey, contact Inovayt today

Start your journey, contact Inovayt today