With money in mind
Money plays a central role in daily life. Therefore, everyone needs the skills to handle financial matters — from paying bills to budgeting and taking out insurance. A reduced capability to handle finances can thus have serious consequences, including debt, poverty, financial abuse, stress, and fewer opportunities for social participation.
Doctoral research by Akke-Marij Ariesen examined how certain health conditions can influence people’s financial capability. The thesis focused on Parkinson’s disease, a neurological condition, and Alcohol Use Disorder, a psychiatric condition. Both can lead to cognitive problems, like memory or concentration problems, and affective symptoms, like depression or anxiety – which can reduce financial capability.
Two literature reviews show that little is known about the influence of these conditions on financial capability. To address this, two clinical studies were conducted. In the early stages of Parkinson’s disease, most aspects of financial functioning appeared intact, while people in the early stages of the disease already showed mild difficulties with financial knowledge and financial judgment. People with Alcohol Use Disorder, on the other hand, indicated difficulties with complex financial tasks, like tax returns or setting financial goals, and generally had a worse financial situation than their peers.
The research highlights a vicious cycle between health and finances: symptoms can reduce financial capability, while financial problems can also worsen symptoms. To break this cycle, the thesis calls for early detection of financial problems, tailored support, and closer collaboration between healthcare and social care, so that care is provided with money in mind.