Lucy says she felt like she had ‘failed’ when her debt started overwhelming her. It was then she knew she had to ask for help
Adults with ADHD tend to earn less, save less, and face money problems more often, according to studies(Image: GETTY)
With Attention Deficit Hyperactivity Disorder (ADHD) Awareness Month under way in October, some experts are raising the alarm over how banks and benefit systems are failing neurodivergent adults through confusing letters and forms or suddenly overwhelming financial changes that can be difficult for them to navigate without the right support.
Previous research has found that people with ADHD often earn around 25 per cent less and save 50 per cent less than their peers without ADHD. They are also more likely to turn to payday loans, rely on benefits or government support, and spend around £1,600 every year on unnecessary financial charges. The financial stress coming from these issues fuels ADHD symptoms, which then feeds into a cycle of debt and anxiety.
Lucy, from Manchester, knows this all too well. The 36-year-old graduated into the 2008 financial crisis and was only diagnosed with ADHD after spending years struggling with insecure jobs, ill health, and money problems. Sharing her story with Christians Against Poverty, she said: “My entire adult life has been shaped by debt and money worries in a world that is increasingly expensive to live in.”
It all started with a student loan, an overdraft and a credit card when she first entered the workplace, but she believed it seemed manageable. But it soon began piling up as her work proved insecure and costly commutes tipped her piles of debt against her.
She said: “The bank started reducing my interest-free overdraft when it had gone all the way up to the maximum they could offer, and suddenly, I had a huge overdraft with masses of interest on it. When my income dropped after thyroid surgery and I could no longer meet minimum payments, the letters started coming.
“In the end, I couldn’t afford my rent or minimum payments. I was completely ashamed of the debt, it felt like a weight that was crushing me. I couldn’t sleep or eat. I hadn’t opened my post in months because I couldn’t bear the red letters. I felt I’d failed.”
When Lucy reached her breaking point, she turned to her parents, who suggested she speak to Christians Against Poverty, which offers free money-coaching sessions. The charity arranged a debt coach for her who showed her how to budget, set up a repayment plan she could actually manage, and allowed her to feel some hope for her finances.
She said: “Every payment felt like a step towards freedom, not punishment. Around this time, I also got diagnosed with ADHD. The psychologist told me that debt is really common for women with ADHD.
“I know now that one of the reasons I had poor money management was because of the impulsive behaviour that my ADHD brings. Understanding myself better has made me able to manage my money better.
“I’ll never forget the phone call at work telling me I was debt-free. I sat in my car in my lunch break and cried. I have framed the letter they sent, and it hangs on my wall.
“If I hadn’t had CAP, I’m honestly not sure where I’d be today. It gave me confidence to deal with money, it gave me strength and pride back and took away my fear.”
ADHD expert Professor Amanda Kirby added: “Many people face challenges managing their money, such as understanding complex terms, completing forms, or sticking to a budget. These challenges can be even more pronounced for people with neurodivergent conditions like ADHD or dyslexia. It is essential that financial services are genuinely inclusive – clearly outlining risks and providing tailored support.”
CAP is calling for increased funding for face-to-face debt help services, an Essentials Guarantee to ensure benefits can always cover food, energy and everyday living bills. It’s also urging the financial industry to co-design products and services with neurodivergent people and integrate pathways linking health, education, social care and free money coaching support.