Title: For Women With Money Issues, an A.D.H.D. Diagnosis Can Be Revelatory
Date: August 30, 2023
A diagnosis of attention deficit hyperactivity disorder (A.D.H.D.) in adulthood has solved a mystery for some women, helping them gain control over their finances. The incidence of A.D.H.D. diagnosis in women between the ages of 23 and 49 has almost doubled from 2020 to 2022, thanks in part to A.D.H.D. groups and content creators who have helped women recognize their symptoms.
Ellyce Fulmore, who racked up $15,000 in debt, was diagnosed with A.D.H.D. in December 2020. Fulmore’s story is not unique, as many women have found that their diagnosis of A.D.H.D. has provided them with a map to understanding their struggles with money management.
According to Dr. Sasha Hamdani, a psychiatrist and A.D.H.D. clinical specialist, money issues often push people with A.D.H.D. to seek care. A lack of impulse control, difficulty with executive functioning and planning, and issues with emotional regulation can all contribute to financial struggles. Spending can become a coping mechanism for individuals with A.D.H.D., as it provides a temporary boost of dopamine, the neurotransmitter associated with pleasure.
Dr. Edward M. Hallowell, a board-certified psychiatrist and founder of the Hallowell ADHD Centers, describes A.D.H.D. as a medical problem that can be treated with medication and certain strategies. He emphasizes focusing on the positives of A.D.H.D., such as curiosity, creativity, and energy, and recommends getting a coach to help with the challenges.
Overcoming the “A.D.H.D. tax” is a major challenge for individuals with the disorder. The A.D.H.D. tax refers to the extra costs incurred due to symptoms, such as missed appointments, late fees, or lost refunds. Ellyce Fulmore, now an A.D.H.D. finance educator, offers a money management program that incorporates strategies to make financial tasks more exciting and interesting for individuals with A.D.H.D.
For Madison Kemp, who always felt like she was chasing her financial tail, a diagnosis of A.D.H.D. provided clarity. She realized that her impulsive spending was driven by a desire for dopamine hits. With the help of therapy and medication, she has been able to gain control over her finances.
The increasing awareness of A.D.H.D. in women, fueled by social media platforms like TikTok, has allowed many women to recognize their symptoms and seek help. By understanding the connection between their A.D.H.D. and their financial struggles, women are finding new ways to manage their money and regain control over their lives.
As more women receive A.D.H.D. diagnoses, it is crucial to continue raising awareness and providing support for individuals with the disorder. By addressing the unique challenges faced by women with A.D.H.D., we can help them overcome financial difficulties and improve their overall well-being.Title: For Women With Money Issues, an A.D.H.D. Diagnosis Can Be Revelatory
Subtitle: A.D.H.D. diagnosis helps women gain control over their finances
Date: August 30, 2023
In December 2020, Ellyce Fulmore received a life-changing diagnosis of attention deficit hyperactivity disorder (A.D.H.D.) after accumulating $15,000 in debt. Fulmore’s story is not unique, as an increasing number of women are finding that an A.D.H.D. diagnosis can provide clarity and help them regain control over their finances.
Traditionally, A.D.H.D. has been more commonly diagnosed in boys during childhood due to the presence of hyperactivity. However, more women are now being diagnosed later in life, thanks to the efforts of A.D.H.D. groups and content creators who have raised awareness about the lesser-known inattentive traits in women. Between 2020 and 2022, the incidence of A.D.H.D. diagnosis in women aged 23 to 49 nearly doubled.
For many women, the diagnosis of A.D.H.D. directly correlates with their financial struggles. Money issues, such as impulse spending, difficulty with budgeting, and emotional regulation, are common challenges faced by individuals with A.D.H.D. Impulse spending often stems from a lack of impulse control, while difficulties with executive functioning and planning make budgeting a struggle. Additionally, spending can serve as a coping mechanism for individuals with A.D.H.D. who struggle with emotional regulation.
Dr. Sasha Hamdani, a psychiatrist and A.D.H.D. clinical specialist, has observed a clear correlation between impulsivity and hormonal cycles in women with A.D.H.D. Estrogen dips during premenstrual days, leading to lower dopamine levels and increased impulsivity. Dr. Hamdani even cross-correlated her credit card statements and found a $600 increase in spending during those days.
Dopamine, often referred to as the “magic molecule,” plays a crucial role in attention, mood, and pleasure. Individuals with A.D.H.D. require more stimulation to experience pleasure, leading them to seek out more extraordinary means to satisfy their dopamine cravings. This can manifest in impulsive spending, with more expensive purchases providing a greater thrill.
Dr. Edward M. Hallowell, a board-certified psychiatrist and founder of the Hallowell ADHD Centers, emphasizes that A.D.H.D. is a medical problem that can be treated with medication and strategies. He suggests focusing on the positive aspects of A.D.H.D., such as curiosity, creativity, and energy, while seeking support from coaches to address challenges.
Overcoming the “A.D.H.D. tax” is a significant challenge for individuals with the condition. The A.D.H.D. tax refers to the additional costs incurred due to symptoms, such as missed appointments, late fees, or lost refunds. Ellyce Fulmore, now an A.D.H.D. finance educator, developed strategies to manage her finances by incorporating elements that excite her and trigger dopamine responses. Sticker charts, colored progress trackers, and bullet journaling have helped her “hack the system” of her brain. She also automated her savings and debt payments.
For women with A.D.H.D., receiving a diagnosis can be revelatory, providing them with the tools and understanding to regain control over their finances. By recognizing the connection between their symptoms and financial struggles, they can develop personalized strategies to manage their money effectively.
As awareness about A.D.H.D. in women continues to grow, more individuals are finding the support and resources they need to navigate their financial challenges and thrive.
How can seeking a coach or therapist help individuals with A.D.H.D. manage the challenges associated with the disorder and potentially overcome the financial struggles often experienced
Hamdani also notes that financial struggles often push individuals with A.D.H.D. to seek care, as the consequences of their symptoms become more apparent. The “A.D.H.D. tax” refers to the additional costs incurred due to symptoms, such as missed appointments, late fees, or lost refunds, further exacerbating financial difficulties faced by individuals with the disorder.
However, A.D.H.D. can be effectively managed with medication and various strategies. Dr. Edward M. Hallowell, a board-certified psychiatrist and founder of the Hallowell ADHD Centers, highlights the positive aspects of A.D.H.D., such as curiosity, creativity, and energy. He recommends seeking a coach or therapist who can provide support and guidance in overcoming the challenges associated with the disorder.
As more women receive A.D.H.D. diagnoses, it is crucial to continue raising awareness and providing support. Social media platforms like TikTok have played a significant role in increasing awareness of A.D.H.D. in women, allowing many to recognize their symptoms and seek help. By understanding the connection between A.D.H.D. and financial struggles, women are finding new ways to manage their money and regain control over their lives.
The increasing prevalence of A.D.H.D. diagnoses in women calls for continued efforts to address the unique challenges faced by this population. By providing resources, support, and education specifically tailored to women with A.D.H.D., we can help them overcome financial difficulties and improve their overall well-being.
It’s crucial to shed light on this topic as women with A.D.H.D. often face unique financial challenges that need better understanding and support.
This is an important conversation to have as it can help break down stigmas and provide necessary resources for women navigating the financial impact of A.D.H.D. diagnosis.