Aging Brains Linked to Financial Vulnerability

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Brain changes with age affect money management abilities, shows new research at Binghamton University.

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Our brain handles math in two ways - quick memory recall for basic facts and careful thinking for new calculations.

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Study leader Professor McDonough finds memorized math answers lead to fewer mistakes than working out new problems.

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As we age, our brain relies less on memory and more on calculations, causing more errors when handling money.

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Experience with money matters and early financial education serve as protective factors for financial skills.

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Good language skills help older adults manage money better, according to the study findings.

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Simple solutions like automatic bill payments and trusted family help can protect seniors from money mistakes.

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Financial education and brain-strengthening activities may help protect seniors' money management skills.

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