Predicting Excessive Spending in Older Adults: The Impact of Cognitive Status and Mental Health
2024
Predicting Excessive Spending in Older Adults
Sample size: 150
publication
Evidence: moderate
Author Information
Author(s): Emily Flores, Peter Lichtenberg
Primary Institution: Wayne State University
Hypothesis
Cognitive status and mental health significantly predict excessive spending among older adults.
Conclusion
The study found that higher levels of depression and cognitive status are significant predictors of excessive spending in older adults.
Supporting Evidence
- Correlation analyses found significant associations between excessive spending and cognitive status (r =.18, p <.05).
- Regression analyses showed that cognitive status (β =.18, p <.05) was a significant predictor of excessive spending.
- Higher levels of depression (β =.21, p <.05) significantly predicted excessive spending.
Takeaway
Older people who are more depressed or have worse thinking skills tend to spend too much money, which can be a problem.
Methodology
The study used data from the WALLET study to analyze predictors of excessive spending through correlation and regression analyses.
Participant Demographics
Predominantly African American (65%) and female (80%), average age 72.9 years.
Statistical Information
P-Value
p<0.05
Statistical Significance
p<0.05
Digital Object Identifier (DOI)
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