In This Article:
Overview of Daily Money Management For Seniors
Tasks Included in Daily Money Management
Effective Money Management Tips
When this happens, it is very important to find someone who is very reliable and trust-worthy, preferably, children or other close family members to help seniors with daily finances.
It is key to have an organized daily money management program, which includes developing a personal budget and a spending plan, to be in place.
What does daily money management include?
There are a lot of daily Money Management Programs out there designed to assist seniors. This service should be considered when a family member or a trusted friend is not available to help with the day-to-day financial needs.
Be sure to check your local listings for agencies and non-profit organizations that offer this kind of service. Some agencies may provide daily management services for free; others charge a minimal fee based on financial status, while a few on a sliding scale or flat fee.
Before choosing an organization or agency, make sure that it has a good reputation. It will be wise to ask family, friends, neighbors, your Local Agency on aging for recommendations.
Before signing-up with the program, make sure you know the following:
It is very important for the senior to feel very safe and comfortable with the program before making the final decision.
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Catharine “Kate” is a Certified Administrator for Residential Care Facilities for the Elderly (RCFE) and an Expert Senior Care Advisor. Kate’s grandmother battled Alzheimer’s Disease and Kate personally understands what millions of families are going through. Kate and her team are very passionate in empowering Seniors and their families by providing them with the Best Available Senior Care Options based on Senior’s care needs, preferred location and family’s budget.
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