money management skills under our guidance.More than 60 percent of adults with ADHD have significant to severe financial difficulties.
I learned this from Rick Webster, founder of the financial literacy education company Rena-Fi.com, who cited a host of root causes like impulsivity, job instability, lower education levels, disorganization, and more.Parents with ADHD are less likely to model healthy money-management skills for their kids.
Even when parents handle money well, adolescents and young adults with ADHD do not learn by observation alone. At some point, they need lessons — and opportunities to apply them.[Watch: How to Teach Teenagers About Money]Webster explains that kids need to learn more than the mechanics of math; they need to understand behavioral finance, or “why we make the money decisions we make.” In other words, building budgets is not enough.[Read: Allowance Dos and Don’ts]Elaine Taylor-Klaus is a co-founder of ImpactParents.com.Read more on additudemag.com