The University of the Third Age in the UK: An Interpretive and Critical Study

This pilot study examined the vulnerability of older women with regard to their personal finances. It looked at what resources and coping skills they currentlyuse, and what strategies might be implemented to assist these women in maintaining or improving daily management of their money. Three tools were used to examine the current patterns of daily use of money of a sample of noninstitutionalized women (n=23): focus groups, individual interviews, and written surveys. Findings include the need for education in budgeting and planning, availability of resource people to answer questions regarding financial paperwork, and the value of networking for peer education. Reminiscence was found to be valuable in opening up the taboo topic of money and exploring early learned behavior regarding the daily use of money. Locus of control was found to be achieved with financial independence. Implications for future research and financial education are explored.