How the aging brain can affect your finances

Aging brain © Fotolia.com

Frontal Lobes

It’s long been known that our brains shrink in volume as we age. The frontal lobes, the region of the brain linked to decision making and executive function, are no exception. This part of the brain is also responsible for inhibiting errant thoughts and behaviors. In a 2007 study published in Current Directions in Psychological Science, researchers at the University of Queensland found that this age-related brain atrophy — and lack of inhibition — led to gambling issues in the elderly. This lack of inhibition may also influence spending behaviors and lead the elderly into unnecessary debt.