Lots of neurodivergent people face significant challenges when it comes to managing and spending their money.
Having a condition such as attention deficit hyperactivity disorder, autism or dyslexia can make an individual more susceptible to financial issues such as impulse spending, unpaid bills, failure to budget, debt and poor credit scores.
In fact, a 2023 study conducted by the consultancy Newton found that 27 per cent of neurodivergent people feel unconfident about money management, with many acquiring overdraft debt (21 per cent), utility arrears (17 per cent) and payday loans (11 per cent).
Neurodivergent people — whose brains are wired differently — generally experience these issues due to challenges comprehending financial concepts like budgeting and accessing traditional financial services.
Understanding these challenges
As no neurodivergent person is the same and each neurodivergent condition brings its own challenges, money management issues can vary based on an individual’s specific diagnosis and personal circumstances.
Those with ADHD may struggle financially as they are more prone to “procrastination, disorganisation and impulsivity”, explains Dr Uthish Sreedaran, clinical director at Psychiatry UK.
He says: “Individuals may find it hard to keep track of their expenses, find it difficult to keep on top of paying bills, impulsively spend money, get into debt and can be possibly fined, which can then escalate into more significant financial difficulties.”
Will Moore, who has ADHD, found many aspects of financial management overwhelming in his early twenties. He explains. “An example would be that when I knew that I didn't have enough money in my account to cover bills, I simply wouldn't look at the balance — using my generous overdraft without thought until I reached a point where my monthly pay only took my overdraft back to zero, rather than filling my account as it should.”
He has also been affected by impulse spending, buying everything from expensive game consoles to multiple phone contracts, despite having bills to pay. Moore adds: “It ruined my credit rating and I spent a decade fixing it. I now attribute this impulsive, uncontrolled financial behaviour to ADHD.”
Autistic people, who often struggle with communication, understanding emotions and obsessive thoughts, can have distinct financial challenges too.
Maddy Alexander-Grout, co-founder of the Mad About Money App, explains that reduced social skills may prevent autistic people from accessing physical bank branches, asking for higher salaries or negotiating better financial deals.
She adds that they may also take things at face value — making them vulnerable to scams and fraud — and hoard money and overspend due to obsessive worrying.
A dyslexic person may find it hard to read bank statements and other financial documents, leading them to misread numbers and make incorrect payments, Alexander-Grout continues.
