Dr. Beth Anne van Noppen with Rebecca van Noppen
Managing money on a good day can be stressful, but adding Attention Deficit and Hyperactivity Disorder (ADHD) to the mix, can create additional challenges. On today’s “Let’s Talk Money with Dave and Reb,” Dr. Beth Anne van Noppen of Eastern Ontario, a specialist with young ADHD patients, outlines the challenges, but also the hope and practical tools that can help people overcome financial strain. Here is part of her discussion with Reb, prior to the show.
Reb: Dr. van Noppen could you give a brief overview of ADHD?
Dr. van Noppen: I often say that for folks with ADHD, the Chief Executive Officer (CEO) of their brain is not working very well, that is the space for planning, organizing, and setting goals. These are exactly the areas we need for taking care of our finances. We all may be struggling with these areas in our lives, but for someone with ADHD, these issues are causing dysfunction in their lives. They struggle with three broad areas that we use to define ADHD:
- Inattention or your ability to regulate your focus on things (particularly boring or mundane things). Two of the criteria under this category are difficulty organizing and not paying attention to details.
- Hyperactivity is another. This is the part that we classically think about when talking about ADHD.
- Impulsivity is the third, where people are doing or saying things before they think about them.
Reb: For our discussion today, let’s focus on impulsivity. Can you help us understand how this affects people?
Dr. van Noppen: This is fairly self explanatory. People with ADHD can be impulsive. This means doing things before they think about the consequences or long term effects of their actions. So basically it is buying something before they really think it through; “I see it, I like it, I want it, I get it.” There is no planning, and no consideration to whether or not they have the money to buy it.
And there is something I find very interesting about all of this. There is a neurotransmitter in our brain called dopamine. When we buy something we get a dopamine spike in our brains and we feel good. Buying things gives us a dopamine hit. So guess which neurotransmitter is low in the ADHD brian? Dopamine. It makes sense that making impulsive purchases would be an issue for people with ADHD – it is self medicating.
Reb: So if this is what is happening, how can a person with ADHD help themselves?
Dr. van Noppen: One solution is medical treatment. Taking ADHD medications increases dopamine in your brain. As a result, there won’t be the same desire or craving for dopamine, and therefore you won’t be looking for the ‘rush’ that impulsive shopping provides. Researchers conducted a study where they offered a group of people with ADHD two choices: take a smaller amount of money right now, or a larger amount in 24 hours. Some of the people had medication, some did not. Those people who were unmedicated took the smaller amount of money.
Reb: So on top of this dopamine issue, what would you say are the problem areas for impulsive spending in people with ADHD?
Dr. van Noppen: Oh, there are a few: online shopping, free-trial memberships that turn into paying monthly fees, credit cards, and sales that promise “a good deal.”
Reb: So as we come to the end of our discussion, could you leave people with some tips you think would help with impulsive buying?
Dr. van Noppen: Well, let’s start with a simple budget or spending plan. People can really benefit from knowing what they can spend. Using cash instead of credit would also help.
Another great idea is for people to give themselves a time delay, where they wait 24 or 48 hours before actually making the purchase. This is where they can ask themselves if they really need the item, or they can consider what the consequences are if they buy it.
Then, there is online shopping. I think it is helpful to put your items in a wish list and then come back to them. This also fits in with the 24-hour rule. And don’t have your credit card linked to Amazon or your phone. Just having to take the time to fill in the numbers online can give you time to think through your purchase.
Another idea is to keep your credit card limit low, or put cash on your credit card. One person told me they keep their credit card frozen in a chunk of ice, as they need to melt the ice before they can use it.
My last thoughts really evolve around honesty and community. Shopping with someone else or talking to someone on your phone while shopping can keep you accountable. You can talk about the purchase and process whether you should get it now, or wait until later. This takes honesty and vulnerability, and solid relationships.
Reb: What hope can you leave with people today?
Dr. van Noppen: I want to tell people that it is possible. You can learn to manage money. It may not be intuitive, but with some helps in place, along with accountability and keeping it simple, you can take care of your finances.
Listen to the February 25, 2022 episode of “Let’s Talk Money with Dave and Reb” to hear more of their conversation.