Managing Money: A Caregiver’s Guide to Finances: A Pragmatic and Scalable Evidence‐Based Program for Caregivers

Abstract

AbstractBackgroundFew programs have been developed that address the financial needs of caregivers. The following presentation discusses the development of an innovative 60‐minute interactive online program led by community educators.MethodContent includes a) Introduction to the Costs of Caregiving, b) Implications of Alzheimer’s disease, c) Benefits of Early Planning, d) Avoiding Financial Abuse and Fraud, e) Conversations about Finances, Assessing Financial and Legal Needs, and f) Finding Financial Support. A randomized controlled trial was used to examine efficacy with n = 164 participants assigned to the program condition and n = 158 participants assigned to the waitlist condition. Surveys were completed at a) Time 1 (baseline); b) Time 2 (after program completion); c) Time 3 (30 days after program completion); d) Time 4 (60 days after program completion); and e) Time 5 (90 days after program completion). Program participants also completed acceptability questions.ResultParticipants on average were 54 years old (SD = 15.34) with the majority female (80.4%), Caucasian (73.3%), and married (68.9%). Most participants worked part‐ or full‐time (54.9%), had a bachelor’s or post/professional degree (71.8%), and had yearly incomes of $50,000 or more (55.9%). Participants primarily provided care to a parent/in‐law (45%) or a spouse/partner (34.2%). Significant group differences between the program and the control conditions were found for the following outcomes: Perceived Knowledge (F(1, 174) = 4.54, p = .04); Financial Unmet Needs (F(1, 176) = 16.16, p = .01); Financial Unmet Needs Distress (F(1, 176) = 15.42, p = .01); Financial Self‐Efficacy (F(1, 174) = 6.19, p = .01); Financial Behavioral Intentions (F(1, 172) = 8.02, p = .01); and Financial Behavioral Actions (F(1, 172) = 13.05, p = .01). Post‐hoc analyses indicated short‐ and long‐term impacts that will be further discussed. In terms of acceptability, participants rated the program as highly acceptable, with 82.8% to 91.9% of participants rating each statement as ‘agree’ or ‘strongly agree’ and 91.9% of participants indicated they would ‘very likely’ recommend the program.ConclusionDiscussion highlights key features thought to contribute to the successful evidence‐based program including how to develop pragmatic and scalable programs and alignment of measures with program content and dose.