For Americans with ADHD, inflation is taking a financial toll. These money management tips can help.

Inflation has started to cool but prices remain high, and that’s taking a toll on Americans’ budgets.

According to the latest data from the Bureau of Labor Statistics, food costs have been particularly impacted (up 2.2% from the year before in July), causing people to rethink their grocery lists and shopping habits. Companies say customers are searching for savings anywhere they can, which has spurred big names like Amazon, Best Buy, and Nordstrom to offer more generous discounts to help boost demand.

“A lot of prices for things we don’t look at the price for have gone up dramatically,” Bobbi Rebell, a certified financial planner and personal finance expert at Cardrates.com, told Stacker. “We hear on the news inflation is going down, but it doesn’t mean prices are going down.”

Take a staple like eggs, which have decreased since their 2023 peak but still cost $1 more than they did a year ago. Costs for household must-haves can add up, so shoppers may need to reassess and cut spending elsewhere.

While sticking to a budget can be challenging for anyone, it can be particularly difficult for people with ADHD, a mental condition with symptoms that include being easily distracted, difficulty maintaining motivation, and struggling with impulse control.

ADHD Advisor examined peer-reviewed research and interviewed experts to explain why people with ADHD struggle with maintaining their finances and how inflation can exacerbate this difficulty.

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Executive dysfunction impacts money management skills

People with ADHD typically have executive dysfunction, a behavioral condition that can disrupt the brain’s ability to manage thoughts, emotions, and actions. Symptoms may include struggling to stay motivated, particularly when a task feels boring, like setting a budget. It also makes it harder to plan for the future and avoid impulsive decisions—key skills for maintaining finances.

Sensory overload, being overwhelmed by bright lights and loud noises, is also common among people with ADHD and other forms of neurodivergence. This can make everyday tasks like grocery shopping overwhelming and decrease the chances of making positive financial decisions.

Research has shown adults with ADHD are more likely to make poor financial choices—either acting quickly without thinking about the consequences or avoiding decision-making altogether. Because of a tendency to seek immediate gratification over delayed rewards, people with ADHD are at higher risk of taking on more debt while failing to plan for the future. In one 2020 study of nearly 1,300 people, only 20% of adults with ADHD had saved for their retirement, compared to 42% of their neurotypical peers.

This struggle can have serious financial consequences, including lower credit scores and higher rates of missed or late payments. A study of Swedish nationals published in Science Advances in 2020 found that by the time someone with ADHD turns 40, they are six times more likely to default on a loan than the general population.

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Ways to take control of your finances

Luckily, it’s never too late to take charge of your finances. Consider outside help, such as working with a financial advisor, taking classes at a local library, or even asking a close friend or family member to hold you accountable.

“Don’t go it alone,” Rebell, who is also the author of “Launching Financial Grownups,” advised. “The stakes are high, so make sure someone has your back. Other people will be more supportive if they know you’re struggling, and when you do make a mistake they will be more forgiving.”

It’s also important to be kind to yourself—and don’t be afraid to correct mistakes if and when they happen.

“We all make bad decisions, whether we have ADHD or not,” Rebell said. The good news, she noted, is “almost anything you do, you can undo.”

This includes returning those shoes you still haven’t worn or canceling big purchases like airline tickets or hotels, which usually have a 24-hour cancellation window. If you signed up for a gym or streaming service you’re not using often, consider suspending your membership to relieve some pressure.

To prevent overspending online, Rebell suggests slowing down and giving yourself time to think about a purchase before hitting the “buy” button.

“The most important thing is do not let your credit card information stay online, always force yourself to retype in the number,” Rebell said.

Leaving an item in your virtual cart for 24 hours allows you to weigh whether you really need it and may allow you to find cheaper alternatives. As a bonus, some retailers will send you a discount code as an incentive to follow through.

Automation, with checks and balances, also helps. To avoid temptation, set up your paycheck so the money goes into savings and retirement accounts before it hits your checking account. To prevent late fees, which can negatively impact your credit score, Rebell suggests setting up minimum payments on your credit card and paying more later in the month if you can.

Alerts and reminders on your phone can remind you to check in. Rebell suggests reviewing your debit card purchases once a week and going through credit card bills every month to track your spending. This practice allows you to find items you can return or cancel, including subscriptions.

Break things down into smaller, more manageable tasks to avoid feeling overwhelmed.

“Don’t ‘save for retirement’ by focusing on the big number you will need years from now,” Rebell said. Instead, put a slightly higher percentage of your pay in your 401(k) every six months and remember: “Slow and steady wins the race.”

Story editing by Carren Jao. Additional editing by Kelly Glass. Copy editing by Kristen Wegrzyn.

This story originally appeared on ADHD Advisor and was produced and distributed in partnership with Stacker Studio.