Finance management and inequalities in care spending in dementia since the COVID‐19 pandemic

Abstract

AbstractBackgroundThe ability to manage finances is one of the first daily activities to deteriorate in dementia. With finance tasks having gone even more remotely and digitalised since the pandemic, the aim of this qualitative interview study was to explore how finance management and spending habits of people with dementia living in the community may have been affected by the pandemic.MethodWe remotely interviewed 30 unpaid carers and people with dementia across the UK from February to May 2022 about their experiences of managing finances and spending habit changes during the pandemic. The topic guide was co‐developed with two unpaid carers. Data were analysed using inductive thematic analysis.ResultThe pandemic fast‐tracked the digitalisation of finance management tasks for people with dementia, which caused inequalities for many who were unfamiliar with digital formats. This necessitated further involvement of unpaid family carers in all aspects of finance management on behalf of the person living with dementia, leading to increased caring duties on top of existing tasks. Navigating the legalities surrounding financing care for dementia was similarly found to be characterised by barriers for most, with those from more socio‐economically disadvantaged backgrounds receiving less help to source financial support.ConclusionSupport needs to be in place for people with dementia to manage their finances digitally, whilst carers need to be provided with clear guidance and support in how to navigate this daily activity. Legal arrangements with banks and other organisations should be in place as soon as possible to enable equitable support with this key daily activity.