Bauer, 1994


Bauer, J. W. & Stum, M. S. (1994). Money management
needs of elderly living in the community. Financial Counseling and Planning,
5,
147-159.






Money Management
Needs of Elderly Living in the Community


Jean W. Bauer1
and Marlene S. Stum2


This paper uses the 1989 National Long Term Care Survey conducted
by U.S. Bureau of Census to study the elders who are most likely to need
assistance with their money management, their helpers, and the factors,
which explain the need for assistance. A logit analysis of the community-dwelling
sample (n=4324) revealed that those more likely to need help had impaired
mental functioning, had physical limitations, were older, and lived with
their children. The implications for financial counseling are that elders
may need assistance in more than one area of functioning. A system approach
is used to discuss implications for education, collaboration, and policy. 



Key words: elderly, money management, disabled




Affiliations at the time of publication:

1. Jean W. Bauer, Family Social Science, University of Minnesota, 275
McNeal Hall, 1985 Buford Ave., St. Paul, MN 55108. Phone: (612) 625-1763
Fax: (612) 625-4227. E-mail: jbauer@che2.che.umn.edu.


2. Marlene S. Stum, Family Social Science, University
of Minnesota, 275 McNeal Hall, 1985 Buford


Avenue, St. Paul, MN  55108, (612) 625-4270.