Abstract
Research found that adults with attention deficit hyperactivity disorder (ADHD) have more problems with financial decision-making than healthy controls. The present study investigates the impact of symptoms of ADHD on impulsive buying and the use of financial decision styles. Furthermore, the influence of personality, symptoms of depression and demographics on the association between ADHD and these aspects of financial decision-making is evaluated. A community sample of 1292 participants (age range 18–93 years, 45.4% male) completed questionnaires related to ADHD, impulsive buying, financial decision styles, personal financial situation, depression and personality. Four groups were formed based on self-reported ADHD symptoms: an ‘ADHD’ group (n = 45), an ‘Adult-only ADHD’ group (n = 57), a ‘Subthreshold ADHD’ group (n = 162) and a ‘No ADHD’ group (n = 265). Groups were compared using ANOVA and chi-square tests. Furthermore, multiple regression analyses in the complete sample were employed to examine the association between ADHD and financial decision-making. The ADHD and Adult-only ADHD groups reported significantly more impulsive buying, used more often an avoidant or spontaneous decision style and less often saved money compared to the No ADHD group. Regression analyses revealed that impulsive buying and financial decision styles were not significantly associated with ADHD symptoms when controlling for personality, symptoms of depression and demographics. The present study confirms previous research on adults with ADHD by indicating more impulsive buying and a more frequent use of disadvantageous financial decision styles (i.e., avoidant and spontaneous styles) in individuals with an elevated number of current symptoms of ADHD compared to individuals without symptoms of ADHD. Personality and demographic variables were found to be related to both impulsive buying and the use of specific financial decision styles and might be of influence on the association between impulsive buying, the use of financial decision styles and ADHD.
Highlights
Attention Deficit Hyperactivity Disorder (ADHD), characterized by symptoms of inattention, hyperactivity and impulsivity [1], is historically known as a developmental disorder that only affects children
Regression analyses revealed that impulsive buying and financial decision styles were not significantly associated with ADHD symptoms when controlling for personality, symptoms of depression and demographics
The ADHD group obtained significantly higher scores on the Impulsive Buying Questionnaire (IBQ) cognitive subscale compared to both the No ADHD group (Mean Difference (MD) = 2.7; Standard Error (SE) = .88; p = .015; d = 0.54, 95% confidence intervals (95% CI) [0.22; 0.86]) and the Subthreshold ADHD group (MD = 2.5; SE = .92; p = .039; d = 0.40, 95% CI [0.07; 0.73])
Summary
Attention Deficit Hyperactivity Disorder (ADHD), characterized by symptoms of inattention, hyperactivity and impulsivity [1], is historically known as a developmental disorder that only affects children. Financial decision-making has hardly been investigated in adults with ADHD, there are indications that adults with ADHD have problems with this important capability in everyday life. Financial decision-making describes several components related to the ability to manage or direct to manage financial affairs. It involves practical skills and abilities, e.g., counting coins, and financial knowledge and judgment to perform financial actions [11]. Adults with ADHD are more often financially dependent [12] and report more financial problems compared to age-matched controls (e.g., debts, exceeding credit card limits, difficulties saving money and impulsive buying [4]). Compared to healthy controls, adults with ADHD were found to have a stronger tendency to buy on impulse and more often used inadequate financial decision styles (i.e., avoiding decisions and spontaneously making a decision) [15]
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