Impulse spending is a common habit for individuals with ADHD, often stemming from difficulty with delayed gratification and impulse control. According to a recent survey, 65% of diagnosed respondents said ADHD makes managing finances more difficult due to impulse purchases. This behaviour can lead to financial stress, but with the right strategies, it’s possible to build better financial habits. Techniques like budgeting, setting spending limits, and using financial management apps can help curb impulsive purchases. Additionally, seeking professional advice and support can make a significant difference. Practices like Springboard Clinic provide resources and strategies to help individuals with ADHD manage impulsivity and take control of their financial well-being.
When people hear the term ADHD, they don’t automatically think of finances, but the average adult with ADHD can really struggle with overspending, impulse purchases, and succumbing to that rush of dopamine they feel with a new purchase or experience. Not only can it result in financial stress or lead to relationship conflict, it can also contribute to a cluttered and overfilled living space or closet.
Why are finances so hard for adults with ADHD?
ADHD is a neurodevelopmental disorder that can present in 3 different ways – challenges with inattention, elevated levels of hyperactivity/impulsivity, or a combination of the two. The ADHD-style brain is wired for novelty, spontaneity, risk-taking, and gravitates towards rewarding activities. Most adults with ADHD likely have a love/hate relationship with routine or order – they love the idea of having more routines or consistency in their life, but their brain resists. It is something that has plagued adults with ADHD for most of their lives. They were the kids whose desks and lockers were overstuffed with forgotten items and whose parents had to remind them of each step in their morning routine… each morning. These kids turned into teens who were in such a scramble every morning they forgot to brush their teeth, take the assignment they stayed up so late working on, their lunch that was right beside their bag and… were still late for class. Most adults who witness these behaviours will suggest to these teens that they really should try to develop more of a routine to avoid forgotten items or tardiness. It is something that ADHD-ers have heard their whole lives and yet is something their brains just aren’t interested in.
Learning how to “adult” for those with ADHD is incredibly difficult because of this love/hate relationship with routines and sustaining habits. One of the most notorious aspects of “adulting” is financial responsibility, which tends to run counter to being spontaneous, novelty-seeking or risk-taking. Not to mention, being financially responsible is not emotionally rewarding in the moment – it’s the opposite and usually requires the ability to delay gratification, which unfortunately is another skill that is challenging for those with ADHD. The ADHD-brain has the gift of living in the now.
What can be done about it?
To start, let’s all stop beating ourselves up about the way our brains are wired. You won’t find any guilt or shame-based strategies on this list because it just isn’t great for overall mental health and wellbeing. Instead, here are a few ways to try and help curb impulse spending for adults with ADHD that are more progressive:
- Set goals for yourself and put them somewhere you can easily refer to and/or see them – make it hard for you NOT to see your goals.
- Consider including visuals of things you want to save for or where you want your money to go instead to bring the future into the present.
- Break your goals down into small steps and reward yourself in ways other than spending money when you meet each of those steps.
- Announce your goals to someone in your life to create social accountability.
- Be mindful of who you spend time around and the influences in your life – many forms of entertainment influence what we think we should spend money on.
- When faced with the impulse or urge to spend, try delaying by a whole 24 hours and reassess if you still think it’s a good idea… repeat for another 24 hours… and then once more.
- Get your dopamine hits from other experiences in your life – exercise, socializing, rearranging your rooms, trying a new hairstyle, etc.
- Beware of online shopping because it can be twice as rewarding. Apps, websites, and other forms of online shopping are designed to be enticing and rewarding just because of engagement. Using your device for online purchases as well as scrolling will lead to stronger associations with rewards, (i.e., double dopamine hit) which will keep you wanting more… and more.
- Block certain websites if you really want to get cutthroat with your impulse spending or make a rule of thumb that all purchases must be in-person and see how long you can last.
- Rearrange the home screen on your smartphone and track your savings progress regularly – see the gains to motivate your changes in behaviour.
- Lean into other forms of distraction until the impulse passes, but choose something really stimulating (i.e., in a neurobiologically rewarding way).
- Journal about WHY you don’t want to spend the money – perspective-taking can really help with motivation to stick to our original intentions.
- Start with something small … resist a small impulse purchase and see for yourself that it’s possible.
What kind of professional is best equipped to help with this?
After all the years of training that Psychologists and Psychiatrists go through, you’d think they would be the best professionals equipped to help adults with ADHD gain more awareness and control over their spending habits, but an ADHD coach is likely a better choice for this area. In theory, a financial coach who is also an ADHD coach would be the best of both worlds, but it is a somewhat rare combination given all the reasons we have outlined here. At Springboard Clinic, all our clinicians are trained in ADHD coaching, which includes a large emphasis on daily habits and routines, across different aspects of healthy living – eating habits, exercise, financial habits, and more. When clients at Springboard Clinic tell their coaches that their taxes are filed on time… we pop the bubbly!
About Dr. Anne Bailey
Dr. Anne Bailey, Ph.D., C.Psych , is a Clinical Psychologist who obtained her Ph.D. from Concordia University in Montreal conducting research on neuroplasticity and the effects of early experience on the brain and behaviour. She has spent the last 13 years providing assessments and treatment to the ADHD community working with clients of all ages individually and in groups, offering parent and couples support, as well as collaborating with teachers. She is currently the Executive Director of Clinical Services at Springboard Clinic, where she oversees all facets of assessment, coaching and therapy services. She is a co-author on Springboard Clinic’s adult ADHD workbook called “May We Have Your Attention Please?” and is passionate about designing mental health services that are both ADHD-friendly and effective.
