Managing Finances for Persons Living with Dementia: Current Practices and Challenges for Care Partners

Dementia is a global public health concern. There are more than 55 million persons living with dementia (PLwDs) globally with 10 million new cases annually. Dementia is characterized by declining cognitive and functional abilities over time. This can lead to serious challenges in financial decision-making and stability for PLwDs. Care partners are often required to undertake financial management responsibilities on behalf of PLwDs. In this preliminary work, we explore the needs and challenges for care partners in managing the finances of PLwDs. We interviewed (N=7) care partners for individuals with mild to severe dementia. We describe our initial findings on the emotional challenges for care partners, the transition of their financial responsibilities over time, and the need for preemptive planning and different collaborative financial management support throughout the course of the illness. These findings can inform accessible and supportive financial technology design for PLwDs and their care partners.