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

ABSTRACT:

Objectives

The Wealth Accumulation and Losses in Later life Early Cognitive Transitions (WALLET) study data was used to examine correlates with excess spending in older adults who do and do not have early memory loss.

Methods

The WALLET study collected detailed financial information from participants' primary checking account statements (n = 150). Information on participant sociodemographic, health, and disability status, memory functioning, financial decision-making, and financial literacy was also collected. Participants either had no memory problems or early memory loss. Bivariate and multiple regression analyses were conducted.

Results

The early memory loss group had significantly higher excess spending than those with no memory loss. Financial decision-mak

SUBMITTER: Lichtenberg PA 

PROVIDER: S-EPMC11530402 | biostudies-literature | 2025 May-Jun

REPOSITORIES: biostudies-literature