Study Links Banking Habits to Early Signs of Cognitive Decline

A recent study highlights a potential connection between banking habits and early indicators of cognitive decline, particularly in relation to dementia risk. Conducted on a substantial sample of over 66,000 individuals, the research suggests that changes in financial behaviors may serve as an early warning system for cognitive issues, allowing for timely intervention.

According to the findings published in the Journal of the American Medical Association (JAMA) Network Open, individuals who later required a power of attorney due to financial incapacity exhibited distinct patterns in their banking records, contrasting sharply with those who showed no signs of cognitive decline. The study analyzed the banking behaviors of 16,742 individuals who registered a power of attorney compared to a control group of 50,226 individuals without signs of lost mental acuity.

Identifying Financial Changes as Cognitive Warning Signs

The results revealed several significant trends among those who experienced cognitive decline. Individuals who eventually registered a power of attorney were more likely to report issues such as fraud or lost bank cards. They also requested resets for their PINs more frequently and logged into their bank accounts less often. Specifically, they logged in one fewer time each month, and their spending on travel decreased by 9.6 percentage points in the five years leading up to the registration of power of attorney, along with a 7.9 percentage points reduction in expenditures on hobbies like gardening.

Interestingly, these individuals tended to increase their spending on household bills, suggesting a shift towards home-based activities. This trend included a rise in expenses for electricity and gas, which could indicate both increased time spent at home and potential forgetfulness regarding household tasks.

Implications for Family and Caregivers

The researchers concluded that declining financial capacity might lead to a withdrawal from outside activities, pushing individuals into the comfort of their homes. This disengagement can make them more vulnerable to scams, as they may become easier targets for phishing attempts and may lack the awareness to detect signs of fraud.

Increased household bills alongside these behavioral changes could signal both a rise in forgetfulness and a growing need for assistance. Family members are encouraged to monitor these signs closely, as they may provide crucial insights into the cognitive health of older relatives.

Proactive measures could include encouraging loved ones to engage in heart-healthy lifestyle changes. This might involve increasing physical activity, adopting a balanced diet rich in Omega-3s, maintaining social connections, prioritizing quality sleep, and engaging in cognitive stimulation through activities like puzzles.

The findings underscore the importance of early detection and intervention in cognitive decline. Family members noticing changes in older relatives’ interests, particularly in hobbies or travel, should consider assessing their financial fitness. Taking action early can help guard against potential financial exploitation and foster healthier lifestyles, reinforcing the adage that prevention is better than cure.

As this research reveals, our banking habits might just provide the key to unlocking earlier detection of cognitive decline, paving the way for timely and effective strategies to mitigate its impact.