Saturday, October 10, 2009
Declining Money Management Skills May Be Sign of Impending Alzheimer’s
If you’re 30 years old and having trouble managing your finances, it could be a sign you need to rethink your budget and perhaps seek professional guidance to get back on track and strengthen your financial skills. On the other hand, if you’re 65 and suffer from mild memory problems, a decline in your money management skills could signal progression toward Alzheimer’s disease, a new study suggests.
Researchers from the University of Alabama in Birmingham arrived at the conclusion after comparing the money management skills of 87 people with mild cognitive impairment (MCI) to 76 people with no memory problems. They measured the participant’s skills at the beginning of the study and again a year later using a tool called the Financial Capacity Instrument (FCI), which looks at preparing and paying bills, understanding a bank statement and balancing a checkbook, identifying fraud situations, counting coins and currency, and buying groceries.