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9 Mar 2013 09:25 GMT
Lloyds Banking Group has today (Saturday 9 March) launched a set of money management tips for people with dementia and their carers to kick-start their two year charity partnership with Alzheimer’s Society and Alzheimer Scotland.
The two charities and Lloyds Banking Group plan to tackle some of the problems faced by people with dementia and their carers when dealing with personal finances, exploring ways to make the banking sector more ‘dementia friendly’. This builds on work that Lloyds Banking Group has already been doing as part of the ‘Dementia Friendly Communities Champion Group’, led by Alzheimer’s Society and set up in March 2012 as a result of the Prime Minister’s Challenge on Dementia.
The initiative complements the Group’s Money for Life financial education programme that is designed to support communities with money management,
including training thousands of organisations to deliver face-to-face support to vulnerable groups.
Today’s launch of the top tips is a first step by the partners to encourage people living with dementia, their family members and carers to think about what they need to do to future-proof the management of their finances. The top tips include information from arranging a power of attorney and applying for the correct benefits, to organising bank accounts.
Angela Rippon, co-chair of the Dementia Friendly Communities Champion group and Alzheimer’s Society ambassador said:
‘Dealing with finances when you are living with dementia can be a minefield. People in the early stages of the condition often feel locked out of the system, with all the many passwords and personal details they are expected to remember.'
'When a carer takes over, the pressure of getting to grips with power of attorney and trying to make decisions in the best interests of a loved one can be very stressful. These top tips from Lloyds Banking Group and Alzheimer’s Society’s Live Well partnership are a great guide to help navigate what can be a really tricky time.'
Over the course of the partnership Lloyds Banking Group hope to raise at least £2million to fund 'Live Well' – Alzheimer’s Society’s first UK-wide support programme for people with dementia and their carers. This pioneering campaign will provide life- changing guidance covering topics such as coping with challenging behaviour, communication and legal and financial information.
Graham Lindsay, Responsible Business Director at Lloyds Banking Group said:
‘With 44 per cent of people in the UK connected to someone living with dementia, we know that many of our colleagues and customers will be affected by the condition at some point in their lives.'
‘By funding the ‘Live Well’ programme, we hope to educate people in how to deal with dementia and live the best possible quality of life. Today’s launch of our top tips will serve as a valuable guide on how to plan finances when dealing with condition. We look forward to working on other similar initiatives as our partnership progresses and will ensure that our work in financial education through the Money for Life Programme will be extended to help those living with dementia.'
Liz Monks, Director of Fundraising at Alzheimer’s Society said:
‘Coping with a diagnosis of dementia is a lot to take in, but it’s really important to start planning your future as well as thinking about your immediate needs. The top tips will help people do just that.'
‘We are thrilled to be partnered with Lloyds Banking Group for the next two years. The money raised will enable us to improve the lives of thousands of people with dementia and carers across the country.'
The Live Well financial top tips for people with dementia and their carers
Top tips for managing money if you are living with dementia
Top tips for carers managing the money of a person with dementia
Further top tips for managing your finances through a range of life events - including bereavement and retirement can be found on the Money for Life website at www.moneyforlifeprogramme.org.uk/moneymanagement