Financial capability and capacity in people living with dementia. v1.3
Research type
Research Study
Full title
A cross-sectional observational study of financial capability and capacity in cognitive disorders.
IRAS ID
323820
Contact name
Sebastian Crutch
Contact email
Duration of Study in the UK
1 years, 0 months, 0 days
Research summary
People living with dementia often develop problems managing their personal financial affairs. This vital life skill uses a lot of brainpower as it requires individuals to simultaneously register, understand, weigh up, and apply various information types. Unfortunately, people living with dementia are at risk of being taken advantage of by others and can lose large sums of money.
Over the past 20 years, researchers have examined how people manage their finances, with different methods developed to describe and measure the skills needed to complete financial tasks. One such tool is a specialised memory test called the Financial Capacity Instrument Short Form (FCI-SF), which measures how people with Alzheimer's disease (AD) manage their finances. This test has been thoroughly assessed in people with AD; however, the tasks involved do not consider digital banking, which is now almost ubiquitous.
This study will use a new neuropsychological test called the Personal Finance Capacity Assessment (PFCA) which examines the same domains as the detailed first iteration of the long form of the FCI-SF, the Financial Capacity Instrument (FCI). However, given the rise of digital banking in the United Kingdom (UK), the PFCA uses tasks better suited to the UK context.
The financial capability of people living with PCA (n=44), bvFTD (n=44), and DLB (n=44) will be compared against that of people living with Alzheimer's Disease (AD) (n=44), and Healthy controls (n=44), using the FCI-SF and the PFCA. This will be done by extracting the FCI-SF domain subscores from the ADNI3 dataset and comparing those with those tested by the PFCA tool.
This study will help clinicians understand changes in financial capability in each group; it will also help patients and carers be better informed to improve the personal safety of people living with dementia.
REC name
North West - Haydock Research Ethics Committee
REC reference
23/NW/0210
Date of REC Opinion
24 Oct 2023
REC opinion
Further Information Favourable Opinion