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Louisiana Money Management Needs Assessment

The need for a state-wide Louisiana Money Management Program and the willingness of organizations to work with such a program are the issues explored in this recent AARP survey of Louisiana service organizations. AARP Louisiana provided a list of 677 organizations that they believed had contact with individuals with money management issues.

Key findings from this survey include:

  • Slightly more than two in five (42%) of the participating organizations say that individuals who need help managing their money because of mental, physical, or social incapability have been referred to or sought assistance from their organization.
  • Organizations report that the most common client problems are: inability to read and understand financial materials (often, 33%; sometimes, 30%) and difficulty affording necessities such as food and prescription medications (often, 30%; sometimes, 29%).
  • Nearly two in three organizations (63%) say they provide clients with support in completing applications for financial assistance; and about half say they assist clients with bill paying and check writing.
  • Of those organizations indicating that they provide money management services, a majority note that they provide the services informally.
  • Slightly more than four in ten organizations report there is a major (15%) or moderate need (29%) for a corps of trained, supervised, monitored, and insured volunteers who can provide money management assistance.
  • Nearly seven in ten organizations (68%) are willing to work with a volunteer-delivered money management program in their community; about three in five (57%) are willing to serve as an advisor to the program; and about two in five (39%) are willing to co-sponsor a program in their community.

Respondents to this survey (a total of 175) reflected a range of organizations including: aging organizations (66%), health and mental health organizations (22%), social service organizations (13%), housing organizations (6%), disability organizations (3%), and other organizations (15%).

Joanne Binette, AARP Knowledge Management, managed all aspects of the survey design and fielding. Anita Stowell-Ritter wrote the report. For more information, contact Joanne Binette at 202-434-6303. (28 pages)

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