How ADHD May Affect Your Money
by Tamika Howell
Do you ever wonder why you do the things that you do? Some behaviors can be attributed to external programming, and some are internal wiring.
For the longest time, I simply thought I’d never get things quite right and continued to hit wall after wall in frustration. I did not understand how my brain worked and was modeling what worked for others.
It wasn’t until I decided to explore an ADHD diagnosis last year in therapy that I started to find some answers about why certain things I tried in the past didn’t work for me and some solutions to address them.
What Is ADHD?
As defined by ADDitude magazine, “Attention deficit hyperactivity disorder (ADHD) is a neurological disorder that impacts the parts of the brain that help us plan, focus on, and execute tasks.” There are three main types:
- Inattentive (a.k.a. Attention Deficit Disorder)
What Does This Have to Do with Money Management?
Here are some ways ADHD can impact your money:
- Rejection-sensitive dysphoria (RSD) can lead to
- being underpaid and missing out on career advancement opportunities.
- Forgetfulness can lead to
- reduced credit rating and increased cost of borrowing.
- Impulsivity can lead to
- “imprudent” spending.
- Inattentiveness can lead to
- challenges to staying focused and organized.
Click on the links above to read more about how ADHD traits may impact your money management, and what you can do about it.
Disclaimer: Many of the symptoms/traits mentioned are not unique to people with ADHD, but the degree to which they occur for people who have it causes noticeable impairments to work, home, school, and social life.