Study Links Banking Habits to Early Signs of Cognitive Decline

A recent study published in the Journal of the American Medical Association (JAMA) Network Open reveals that certain banking habits may serve as early indicators of cognitive decline. The research suggests that shifts in financial behaviors could alert families and caregivers to potential dementia risks, enabling timely interventions that promote heart-healthy lifestyles.

The study analyzed anonymized banking records from over 66,000 individuals, comparing the financial activities of 16,742 individuals who registered a power of attorney due to financial incapacity with a control group of 50,226 individuals without signs of cognitive decline. Researchers identified significant patterns in the banking behaviors of those who exhibited declining cognitive abilities.

Identifying Financial Changes

Key findings indicate that individuals who registered a power of attorney were markedly more likely to encounter issues such as fraud, lost or stolen bank cards, and requests for PIN resets. On average, these individuals logged into their bank accounts less frequently—about one less login per month. There was also a noticeable decline in discretionary spending, with those experiencing cognitive decline being 9.6 percentage points less likely to spend on travel and 7.9 percentage points less likely to invest in hobbies like gardening.

Moreover, the study found that these individuals tended to increase their household bills, particularly for utilities such as electricity and gas, suggesting that they were spending more time at home. The changes in spending habits intensified as individuals approached the time of power of attorney registration, indicating a gradual decline in financial capacity.

Implications for Families

The implications of these findings are significant for families monitoring their loved ones’ cognitive health. Researchers concluded that declining financial capacity might correlate with a withdrawal from social activities and an increased risk of falling victim to scams. Those experiencing cognitive decline may be more susceptible to fraudulent schemes due to reduced engagement with the outside world and difficulties in recognizing signs of fraud.

Increased household expenses may indicate not only greater time spent at home but also increased forgetfulness, such as neglecting to turn off appliances. Being vigilant for these behavioral changes can help families detect early signs of cognitive decline, encouraging those affected to seek medical advice or adopt behaviors that may mitigate the risk of further decline. These behaviors include:

– Increasing physical activity
– Following a balanced diet rich in Omega-3s
– Engaging more frequently with friends and family
– Prioritizing quality sleep
– Participating in cognitive stimulation activities, like puzzles

Family members should remain alert to any significant changes in the interests of older relatives, particularly if they show less enthusiasm for hobbies or travel. It is vital to assess their financial health early on to protect them from potential fraud. As the saying goes, prevention is always better than cure, making proactive measures essential in safeguarding cognitive health.