Do Seniors Need Daily Money Managers?

As people go into their winter stage, being in the home or the care of their “kids”, you would observe reports of lapses in their decisions. Although many are still as sharp as a needle, this is their time to enjoy the time and try not to be worried about little things.

Seniors do need all the help they can get so they could get the best quality of life without stress. They should be enjoying what life has left to offer, a quiet time in their twilight years. In terms of finances, transparency is the best way to make sure that the parents are taken care of especially if they have health conditions that they need to watch out of and no one is there to check on them all the time.

As your parents' age, you may also notice a decline in their ability to handle their finances. This natural side effect of aging is common among adults as they venture further into their 60s and 70s. It is always best to see if the elderly in the family need help, and most of the time, it takes a lot of convincing to do so, leaving both sides worried and stressed.

Assessing if your parents or the elderly in the family need a helping hand:

You might want to check the following:

• Paid bills more than once and unpaid bills with second notice.

• Stacks of unopened mail.

• Unusual spending on their debit or credit card bills.

• Contributions to charities that haven't been supported in the past.

• Struggle in daily activities such as personal hygiene or getting dressed.

• Signs of scams and fraud.

Noticing one or more of these issues, an intervention might be needed. The extent of how they are dealing with their everyday life gives you some signs of how and what help you can give.

Offering Assistance in Money Management

Sensitivity is the key when putting up the subject of financial assistance. Many older people feel ashamed that they are unable to handle their financial affairs properly and associate this as losing control of their lives.

The best time to raise the subject of financial management is before anything drastic happens and they would need help. Give them instances that indicate that they might need help. Explain your concerns about certain aspects of money management and layout to them the effects if things remain as they are. It is always best to involve your elderly in your family in the decision-making process as much as possible. If possible, come up with a plan on how both parties could work together. You might be able to offer the possibilities of daily management for seniors to help them out. Let them know that they have control in their lives and finances, but in a way that is more sustainable for them. The most important of all is to listen to what they have to say in their situation as this kind of talk can be difficult and emotional.

Solutions can be found with Carolina Money Minders.

Carolina Money Minders offer this kind of service for the elderly. We provide daily money management and non-medical assistance as needed. We take care of your parents as we would take care of ours. Contact Carolina Money Minders Today.