Cognitiva Impairment and Money Management

Friday, July 22, 2011

Many Americans have struggled with the thorny issue of taking the car keys from an aging parent or grandparent. But how do you know when to take away the checkbook? Dr. Edward Hill discusses the warning signs in todays 60 Second Housecall.

Dr. Hill:

Managing money is a necessary skill for people to remain living on their own or independently. When individuals have cognitive impairment, or difficulty thinking and processing information, because of medical problems or mental illness, money management and other activities of daily living may become confusing or difficult.

Cognitive impairment may appear slowly over time, but one of the first signs of dementia may be inability to manage finances.

Signs of problems with money management may include:

Inability to count money

Trouble paying bills and balancing a checkbook

Concerns about stolen money or missing money

Calls from banks and other financial institutions about problems with accounts

Financial abuse, such as from scams, unscrupulous merchants or telemarketers or con artists

When financial capacity is diminished, a trusted family member, friend or representative can assist in financial decision making. It is important for people to consider their choice of agent very carefully to avoid misuse, deception, fraud or theft.

For North Mississippi Medical Center, Im Dr. Edward Hill.