What is ADHD tax? ADHD tax can take a financial and emotional toll on individuals with the disorder. Financial issues can manifest due to things like impulse spending, replacing lost items, and fees for missed appointments. These issues can occur due to ADHD symptoms like forgetfulness and impulsiveness that cause people with ADHD to spend more than others on a regular basis. While it’s not an actual tax you have to pay, it still costs money. Fortunately, there are a number of ways to reduce the burden of ADHD tax and we’re sharing our best tips in this post.
What Is ADHD Tax?
Individuals with ADHD face a variety of challenges on a day to day basis, and sometimes these struggles end up costing money. For example, having to replace lost valuables, paying interest on debt from impulsive spending, and owing late fees on missed bills. ADHD tax refers to costs incurred due to symptoms of ADHD, such as forgetfulness, impulsiveness, and time blindness. It can take a significant toll on your finances, not to mention the emotional ripple effects that come along with ADHD tax. It’s common to feel frustrated, embarrassed, guilty, and shameful, and the stress of financial burdens can lead to tension with family and friends.
17 Everyday Examples of ADHD Tax
- Owing late fees because you forgot to pay your bills
- Missed reimbursements
- Replacing lost items
- Difficulty with financial planning- struggle with budgeting, prioritizing financial goals, and lack of motivation to plan for long-term expenses like retirement
- Unused subscriptions or memberships
- Losing money because you forgot to return items during the refund period
- Continuing to pay for subscriptions you forgot to cancel
- ADHD medication costs
- Impulse spending
- Missed credit card payments
- Re-buying things you forgot you already bought
- Paying to eat out because you forgot to buy groceries or don’t have the motivation to cook
- Spending money on new hobbies/interests you get hyper fixated on
- Wasting perishable food items because you forgot you bought them
- Fees for missing appointments or reservations
- Interest from debt – more prone to impulsive spending and spending beyond your means
- Forgetting to cancel free sign ups/automatic renewals
7 Ways to Avoid Paying ADHD Tax
1. Set Up Automated Payment for Bills and Rent
Whenever possible, set up automated payments for your bills and rent so that the payment comes directly out of your account each month. This way you don’t have to worry about forgetting payments. Auto payments help you avoid late fees for bills and give you a more accurate idea of what your budget really looks like. If automated billing isn’t available, setting up recurring reminders in your calendar app that will notify you when it’s time to pay.
2. Try Out New Hobbies at a Minimal Expense
It’s very common for people with ADHD to become hyperfixated on a new hobby or interest. Mix that with impulsive spending, and it can be a recipe for disaster. So many of these new interests fade in a matter of weeks or months, so it’s important to resist the temptation to go all-in financially on new hobbies. Find ways to try out your new hobby with minimal spending. You can do research and make a list of things you want to buy (or add them to a shopping cart but don’t check out). If your interest is sustained over a long period of time (say, 6 months), then consider investing more in that hobby.
3. Cancel Free Trials Immediately After Signing Up
We all do it- sign up for the free trial with the intention of cancelling once the trial is up. Instead of waiting until the day the trial ends (and likely forgetting to cancel), cancel your trial the moment you get it. In most cases, you still get to use the trial for the remaining days and you don’t have to remember to cancel it. You should also do this for any automatic renewals/subscriptions that you don’t plan on renewing.
4. Optimize Your ADHD Treatment
Optimizing your treatment plan can help your ADHD symptoms and in turn, reduce the ADHD tax you pay. Work with your doctor to ensure you’re on the best possible medication and dose for your individual needs. If you’re not seeing a therapist, ask yourself if you could benefit from seeing one, and consider hiring an ADHD coach who can help you with executive functioning skills.
5. Keep Perishable Foods in Sight
You know what they say- out of sight, out of mind, and this can be especially true for those with ADHD. If you regularly stock up on fresh produce at the grocery store but put it in your produce drawer in the fridge, it’s likely going to end up in the garbage. Try storing it in plain sight or switch to frozen fruits. For example, frozen berries are amazing for smoothies!
6. Limit Your Social Media Use
Social media can trigger overspending since it makes it so easy to be influenced and buy things impulsively. It also contributes to FOMO and keeping up with the Jones’, which can make the urge to spend more intense. Cutting down on your social media use or getting rid of it altogether can help curb impulsive spending and put a limit on buying things you don’t need.
7. Make Grocery Lists
Without a grocery list, you’re relying on your memory to tell you not only what you need but what you already have at home. Making a list forces you to take an inventory of what you have, so you don’t overbuy at the store. It will also help with impulse spending since it gives you a guideline for what you’re “allowed” to buy.
ADHD tax can be frustrating and humiliating. Try these tips to avoid paying ADHD tax as much as possible.
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