Acceptability and satisfaction of a newly developed financial preparedness program for caregivers of older adults with a chronic illness.

Abstract

Background and objectives: To address a gap in caregiver programming focused on financial literacy and preparedness, Managing Money: A Caregiver's Guide to Finances, a 1-hour online program, was evaluated to determine program acceptability and participant satisfaction.

Research design and methods: Caregivers of individuals with chronic health conditions were recruited to attend a one-hour program focused on (1) understanding the financial impact of caregiving; (2) providing information on legal and financial documents; (3) how to prepare for discussions about finances and financial planning; (4) lowering risks of financial abuse and fraud; and (5) creating a backup plan for changes in care needs. Results were collected longitudinally, following participants to ninety days after attending the program.

Results: Overall, participants (n = 99) found the program highly acceptable, with the majority of caregivers agreeing or strongly agreeing the program: identified financial issues; provided important information; content was easy to read and understand; topics were clear and well-organized; activities were helpful; length was good; and caregivers would recommend the program. Program materials were rated helpful with up to 40% of participants reporting they used materials after attending the program.

Discussion and implications: Providing care for individuals with chronic health conditions poses significant challenges for informal caregivers. The impact of finances, knowledge base, and skills needed are often not included in an in-depth manner. The current program addresses this gap while also taking into consideration the need to develop pragmatic and scalable programs. The program may be useful in developing other targeted intervention protocols for caregivers.