ADHD & Money
Can ADHD affect someone’s management of their money?
- Some of people with ADHD have challenges with managing their money.
- Different symptoms of ADHD can affect someone’s ability to successfully manage their money. Hyperactivity/impulsivity can lead to impulsive buying. The task of sitting down to think about money and paying bills can be difficult to concentrate and follow through on.
What are some ways I can manage my money better?
- Make a monthly budget. Take some time to track your spending and see where it’s going so you can get a realistic idea of how much you spend first – it can be disheartening to make a budget and see it thrown out the window immediately. Print out the budget and keep it somewhere you do your paperwork so you can refer back to it.
- Set up direct debits into a savings account. It can be easy to say you will put the money into the savings account soon and keep forgetting or finding when you get around to it, the money is spent. Have a set time when the money will automatically come out and you don’t have to worry about it.
- The Credit Union is a useful way of saving money and has flexible opportunities for loans. Read about more about credit unions on their here or on Citizens Information here.
- If you are concerned about money, the HSE have information about managing money worries here.
- The Money Advice and Budgeting Service (MABS) is a free, independent and confidential service, with the aim of supporting people to manage their money and debt. If you have a problem with debt, you can contact their helpline and arrange an appointment. Find out more about MABS here.
- The Household Budget Scheme is a scheme that helps people getting certain social welfare payments to spread the cost of some household bills over the year. Under this scheme, a fixed amount is deducted from your social welfare payment each week. Read more here. Read about social welfare payments here.
- Extern Problem Gambling offer free counselling, a phoneline and email helpline for those who are impacted by problematic gambling. Find out more here.