2023 Alzheimer's Association Research Grant (AARG)
Implementing a Web-based Assessment of Online Money Management
Can a web-based money management tool help an individual with Alzheimer’s make financial decisions?
Preeti Sunderaraman, Ph.D.
Trustees of Boston University
Boston, MA - United States
Background
Alzheimer’s is a progressive brain disease that impacts memory, thinking, and behavior. Many older adults with Alzheimer’s slowly lose cognitive abilities that can lead to poor decision making. This can make it challenging for individuals living with Alzheimer’s to be independent in their financial decision making and planning. Studies have shown that identifying high-risk financial behaviors is crucial to preventing devastating financial losses for individuals living with Alzheimer’s.
In initial studies, Dr. Preeti Sunderaraman and colleagues have developed an online tool to monitor financial decision making for individuals living with Alzheimer’s.
Research Plan
Building on their initial studies, Dr. Sunderaraman and the team will first develop a more advanced version of the online money management tool that can better assess one’s ability to make financial decisions. They will recruit 50 older individuals with mild cognitive impairment (MCI, a state of subtle memory loss that may precede Alzheimer’s) or early Alzheimer’s as well as 50 cognitively unimpaired individuals who will use the online tool. Next, the researchers will collect feedback to examine the feasibility of using the online tool. Lastly, the team will validate their findings by associating each individuals’ financial decision making with their level of cognitive impairment.
Impact
If successful, this study could establish an online money management tool as a reliable method to assess financial decision making in individuals living with Alzheimer’s.