The WALLET Study: Financial Decision Making and Key Financial Behaviors Associated with Excess Spending

CONCLUSIONS: The multidimensional nature of financial capacity assessment has long been known. The WALLET study data is unique, however, in that it demonstrates the links between excess spending with decision-making, early memory loss, and a set of specific financial behaviors.CLINICAL IMPLICATIONS: Real-world assessments of financial management and financial decision-making yield important information about how older adults are managing money and making key financial decisions. Checking account reviews can be used to determine excess spending.PMID:38695303 | DOI:10.1080/07317115.2024.2348049
Source: Clinical Gerontologist - Category: Geriatrics Authors: Source Type: research