American Stroke Foundation

Life SkillsManaging Money After a Stroke

Managing Money After a Stroke

Financial Management (00:00-01:00)

Financial management is described as using fiscal resources, including financial transaction methods such as credit cards and digital banking; and planning and using finances with long-term and short-term goals.

Cognitive Difficulties (01:01-01:35)

Attention, memory, reasoning, judgment, and problem-solving are just some of the cognitive skills that are used in making purchases, paying bills, and going to the bank. Simplifying or finding compensation methods can be helpful to complete these tasks following a stroke.

Financial and Emotional Effects (01:36-02:19)

You might find yourself experiencing financial hardship following your stroke due to under or unemployment, which can lead to negative emotional health effects. You might also experience difficulty accessing medical or rehabilitation care due to financial hardship.

Simplify Managing Your Finances (02:31-04:09)

In order to best manage your money after your stroke, you can take advantage of online banking options through your bank or credit union, as well as for your credit cards so you know how much money you have going in and coming out of your accounts. You can create a simple budget with worksheets online or just a simple pen and paper to keep track of purchases you make. You can also set up automatic payments for many bills, so that you don’t have to remember when they are due each month. Finally you can utilize mobile apps to help with your budgeting and keeping track of bills.

Budgeting apps (04:11-05:03)

Apps like Mint, Fudget, and Pocketguard all enable you to keep track of your money, maintain a budget, and work towards your long and short term money goals. Some apps also notify you about recurring charges and allow you to view your credit score.

Kansas City Resources (05:04-05:28)

Money Smart Kansas City is an online website with resources all about money management, with some resources specific to the Kansas City area. Some topics included on this website are disability resources, retirement planning, and preparing for tax season.

Preventing Fraud (05:29-06:30)

In order to prevent fraud, do not give out your social security number or other personal information. Report any spam email you get and check your credit report regularly. If you do suspect fraud, contact your bank as well as the credit reporting agencies.

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