Poor money management 'may indicate Alzheimer's'

Many people have difficulty managing their money, with electronic payments, chequebook balancing and numerous bank accounts all adding up to create a confusing combination.

However, new healthcare research suggests that those who have difficulty in managing their finances may actually be suffering from the early stages of dementia.

In a new breakthrough study conducted at the University of Alabama, experts found that the cognitive problems which indicate early-stage Alzheimer's may be highlighted when people begin to struggle with tasks such as money handling and finance management.

An investigation conducted by the institution analysed 87 people with a condition known as mild cognitive impairment (MCI), thought to be a precursor to Alzheimer's.

The subjects were assessed on their ability to complete certain financial functions at the beginning of the study and then again one year later, with skills including understanding a bank statement, balancing a chequebook, paying bills, preparing bills for mailing and counting coins all part of the task.

Specialists found that 25 of the patients went on to develop full Alzheimer's disease over the course of the 12 months and in this group there was a six per cent decrease in their ability to complete the financial tasks, with chequebook balancing in particular showing a nine per cent drop.

Dr Daniel Marson, professor of neurology and director of the university's Alzheimer's Disease Center, told medical insurance customers that the results indicate the need for people with MCI to have their ability to manage their finances monitored closely.

"Financial capacity has emerged as a key activity of daily living in understanding functional impairment and decline in patients with MCI and dementia," he explained.

The expert added that the ability to manage one's own financial affairs is "critical to success in independent living" and suggested that those likely to develop Alzheimer's should therefore be assisted in monetary matters by friends and family.

By Louise Jones

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