Identifying instruments to quantify financial management skills in adults with acquired cognitive impairments

Engel, Lisa; Bar, Yael; Beaton, Dorcas; Green, Robin; Dawson, Deirdre R.

doi:10.1080/13803395.2015.1087468

Cited by 22 publications

(30 citation statements)

References 56 publications

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“…This study underscores the need for early identification of those at risk for these impairments using validated tools followed by an adequate intervention. This is especially the case in the oldest old as IADL deterioration can be an early marker of dementia . Increasing awareness among clinicians and other health care workers regarding the risk factors and consequences for older adults and their families should be a first step.…”

Section: Discussionmentioning

confidence: 99%

“…It can be overlooked because often medical problems may receive attention during a short visit . Financial capacity might therefore be routinely assessed by other health care workers such as social workers using comprehensive instruments for financial capacity . Also single questions such as “Do you experience difficulty managing finances?” or “Who manages your money day to day?” should be considered in geriatric assessments …”

Section: Discussionmentioning

confidence: 99%

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Difficulty Managing Medications and Finances in Older Adults: A 10‐year Cohort Study

Bleijenberg

Smith

Lee

et al. 2017

J American Geriatrics Society

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BACKGROUND Difficulty managing medicines and finances becomes increasingly common with advanced age, and compromises the ability to live safely and independently. Remarkably little is known how often this occurs. OBJECTIVES To provide population based estimates of the risk of developing incident difficulty managing medications and finances in older adults. DESIGN A prospective cohort study. SETTING The Health and Retirement Study (HRS), a nationally representative study of older adults. PARTICIPANTS Nine thousand four hundred thirty-four participants aged 65 and older who did not need help in managing medications or managing finances in 2002. Follow-up assessments occurred every two years until 2012. MEASUREMENTS The primary outcomes were time to difficulty managing medications and time to difficulty managing finances. Risk factors such as demographics, comorbidities, functional status, and cognitive status were assessed at baseline. Hazard models that considered the competing risk of death were used to estimate both the cumulative incidence of developing difficulty managing medications and finances and to identify potential risk factors. Analyses were adjusted for age, gender, race, marital status, wealth and education. RESULTS The 10 year incidence of difficulty increased markedly with age, ranging from 10.3% (95% CI 9.3–11.6) for managing medications and 23.1% (95% CI 21.6–24.7) for managing finances in those aged 65–69, to 38.2% (95% CI 33.4–43.5) for medicines and 69% (95% CI 63.7–74.3) for finances in those over age 85. Women had a higher probability of developing difficulty managing medications and managing finances than men. CONCLUSION This study highlights the importance of preparing older adults for the likelihood they will need assistance with managing their medicines and finances as the risk for having difficulty with these activities over time is substantial.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Difficulty Managing Medications and Finances in Older Adults: A 10‐year Cohort Study

Bleijenberg

Smith

Lee

et al. 2017

J American Geriatrics Society

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“…In the present study, 11 instruments were classified as specific (Chart 1) for the assessment of financial management capacity and categorized in terms of their form and the scope of their evaluation of the issues, and whether based on performance, patient or caregiver information, as previously reported by other researchers 36,40,41 .…”

Section: Discussionmentioning

confidence: 99%

“…In addition, it was important to evaluate the criteria of the authors regarding the key domains used to evaluate financial management skills (in this case, nine domains). They considered the domains of basic monetary skills, conceptual financial knowledge (or knowledge of their own finances), calculations and cash transactions, checkbook handling, bank and extract management, bill payment, budget management, monitoring and regulation of spending and others (such as understanding of investments, insurance, fraud detection, fees and loan negotiation), all of which were important for the understanding of the construct 41 .…”

Section: Discussionmentioning

confidence: 99%

“…Engel et al in 2016 41 carried out a systematic review in order to identify instruments available in the English language that contained items that evaluated the financial management capacity of adults with acquired cognitive impairment. A total of 88 instruments were found, 44 of which identified this condition based on performance evaluation, while the remainder were based on self-reporting or the reports of companions.…”

Section: Discussionmentioning

confidence: 99%

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Instruments for evaluating financial management capacity among the elderly: an integrative literature review

Marroni

Radaelli

Filho

et al. 2017

Rev. bras. geriatr. gerontol.

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Objective: To identify tools available in literature for assessing the financial management capacity of elderly persons with and without cognitive deficit or impairment. Methods: An integrative literature review was performed. Scientific publications indexed in the PubMed, LILACS (Latin American and Caribbean Health Sciences Literature), Psychology Index and Cochrane Library databases by November 2015 were evaluated. Results: Of the 609 articles obtained from the databases, 29 were considered eligible for this review, and involved 11 instruments for the evaluation of financial management capacity, the most cited of which was the Financial Capacity Instrument (FCI). Conclusion: There are several scales and instruments available which are used to investigate both daily and instrumental activities of daily living, which allow the independence and effective functioning of the elderly on a day to day basis to be verified. Non-Brazilian literature also describes specific instruments for the assessment of financial management capacity. However, no references to a specific scale that evaluates this construct and which has been validated and adapted for the Brazilian population were identified.

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Capacity Evaluations in Older Adults: Neuropsychological Perspectives

Morgan¹,

Marcopulos²,

Matusz³

2019

Handbook on the Neuropsychology of Aging and Dementia

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Identifying instruments to quantify financial management skills in adults with acquired cognitive impairments

Cited by 22 publications

References 56 publications

Difficulty Managing Medications and Finances in Older Adults: A 10‐year Cohort Study

Difficulty Managing Medications and Finances in Older Adults: A 10‐year Cohort Study

Instruments for evaluating financial management capacity among the elderly: an integrative literature review

Capacity Evaluations in Older Adults: Neuropsychological Perspectives

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