Criterion validity of the financial skills subscale of the direct assessment of functional status scale

Among the severely mentally ill, some individuals with schizophrenia or schizoaffective disorder can manage their finances independently, while others depend upon a court-appointed guardian or a representative payee. The present study examined the criterion validity of the financial skills subscale of the Direct Assessment of Functional Status (DAFS) scale in classifying those who manage their finances independently from those who do not. Scores on the financial skills subscale of the DAFS scale of 25 severely mentally ill outpatients without a guardian/payee were compared to scores of 24 severely mentally ill outpatients with a guardian/payee; 25 non-mentally ill participants served as controls. Logistic regression analyses, Bayesian statistics, and Receiver Operating Characteristic analyses revealed moderate classification accuracy in a sample with mild cognitive impairment. These analyses were also conducted on Mini-Mental State Examination (MMSE) scores and revealed generally lower accuracy than the DAFS financial skills subscale. The DAFS financial skills subscale can inform the clinician's opinion about the financial capacity of the severely mentally ill.