As a woman diagnosed with ADHD at 50, I have spent most of my working life in business management and finance which is quite unusual because Money and ADHD are not great bedfellows.
Almost without exception, we are bright and we don’t need to be told we are hopeless with money. Society is not kind to those who struggle to manage their finances and it is probably the biggest destroyer of relationships.
I am not making excuses for our failings, but ADHD impacts each of us differently and there are many factors to consider.
Before we can learn to manage money better, we need to understand the background to our struggle which is often deeply rooted in our childhood. Four out of 5 children who have ADHD have at least one ADHD parent - frequently undiagnosed and therefore untreated and unmanaged.
This is where ADHD Coaching plays an important role.
Below is a list of some common ADHD traits and how they impact us financially.
- Low Self Esteem - despite our outward confidence and bravado, most of us have low self esteem. We buy love and acceptance. We pick up the tab for all our mates when we go for a meal. We say “yes” when we should be saying no. We are people pleaser's and will give away everything. We have no boundaries and we become co-dependent.
- Accident Prone - Due to our distraction, we bump into walls, trip over our feet, crash our cars. Not only are these mishaps expensive but we make it worse because we have forgotten to pay our medical aid or car insurance.
- Addiction - Our brains seldom sleep and we abuse substances, gamble, shop or anything else that brings temporary relief.
- Hyperactivity - We crave new experiences and we have wonderful imaginations. The grass is always greener somewhere else. We move house and change jobs because we are easily bored or we get fired. We will cash in our pension plans to invest the proceeds into a business venture. We have brilliant ideas but struggle to execute.
- Hoarding - There are several reasons we hoard. We may have grown up in poverty or scarcity and when we get money we buy impulsively. Hoarding is also a symptom of being unable to make a decision.
- Overwhelm and anxiety - We don’t know where to start which leads to procrastination and/or inertia. This leads to anxiety and depression. So we do nothing. The more we do nothing, the harder it becomes to tackle what we need to do.
- Time and Planning - ADDers are usually chronically early or VERY late for appointments. This in itself is a problem. However, there is another dimension to the concept of time. We find it difficult to plan for the future. I remember when I was 40, the prospect of being 60 was unimaginable. I told everyone I would be gone long before then. Therefore what was the point of saving for retirement.
- Instant gratification - live for today and deal with tomorrow when it happens.
Do you recognise some of these traits in yourself and/or your partner? Complete the enquiry form below and I will be in touch.
Send me a message