People diagnosed with dyspraxia, Tourette’s syndrome and ADHD — who are often disorganised — may misplace or lose financial documents, she explains.
She adds that many people with neurodivergent disorders experience “task paralysis”, where they “bury their heads in the sand” and avoid money management, which exacerbates their financial problems.
Developing coping mechanisms
While handling financial matters can be difficult and overwhelming for neurodivergent people, developing coping strategies can help.
Moore, for instance, got his finances under control by banking online and setting up direct debits. “With online banking, I could finally manage my finances without having to go to the bank in person, or call customer service,” he says.
“I set all my bills up on direct debit, and the freedom of knowing that everything was scheduled and that I didn't need to manually make payments meant I could focus on other things, knowing my bills were getting paid.”
Moore also uses budgeting apps to better understand his monthly payments and calculate any remaining money. And, like many neurodivergent people, he relies on support from family members to manage his money effectively. Leaning on his wife for her “financial intelligence and frugality” has helped improve his financial patterns over the years.
Leanne Maskell, the author of ADHD An A-Z, has the condition herself and used to struggle to comprehend financial concepts such as interest rates.
But by watching short finance videos on Your Juno and working with a financial adviser, she now better understands financial management. She says: “Learning about things like pensions can feel difficult, but learning the basics can be life changing.”
She also recommends setting personal financial rules — such as staying away from retail websites that offer free postage and free trials — as well as avoiding debt, asking family members to assist with finance management, and setting time aside each week to pay bills and handle other financial matters.
What the industry can do
Financial organisations can also help by understanding the challenges faced by neurodivergent customers and using these insights to improve the accessibility of their services.
Heike Knip, founder of The Good Consulting Company, urges financial companies to train their staff on neurodivergence so that they can “achieve a better understanding” and “explain things in a different way”.
Many banks are attempting to better support neurodivergent customers by implementing accessibility policies, hiring diversity leads and developing features to suit everyone’s financial needs.
Monzo, for example, takes the approach of developing products that “make money work for everyone”, explains Natalie Ledward, vulnerability, access, inclusion and bereavements lead at the digital bank.
“Neurodivergent customers often face specific challenges when it comes to communication or money management, like remembering bill payments or impulse spending,” she says.
