Review and Pay
- Evaluate and pay household bills.
- Monitor and assess the necessity of paid services.
- Review, write and deposit checks, and conduct checkbook balancing.
- Handle out-of-pocket expenses, such as home repairs, household maintenance, medical and dental expenses, car insurance, and homeowner assessment and fees.
- Review communications from insurance companies and health care providers to ensure that you receive all benefits you are entitled to.
- Review, sort, organize, and process incoming mail.
- Prioritize, organize, and file financial, legal, medical, and personal documents.
- Automate finances.
- Inventory and store personal assets and investments to ensure their safekeeping.
- Communicate with our clients in an ethical, responsible, and clear manner.
- Counsel on risky financial behavior and provide money saving tips.
- Recognize relevant aging issues and make referrals to professionals and organizations qualified to provide necessary services.
- Meet one-on-one with clients, case managers, attorneys, and family members to discuss, investigate, and review daily money matters.
- Inform clients of issues affecting their health insurance, benefits, fraud and scams targeted to older adults, and other relevant legal and regulatory updates.
Budgeting and Reporting
- Assist in developing a personal budget.
- Track, review, and report on cash flow and expense management needs.
- Produce easy to read cash flow reports and coach to help the client to stay within budget.
- Prepare documents for tax accountants and estate planners.
Benefits of Using a Daily Money Manager (DMM)
- Daily money management can help you get a clearer picture of your financial affairs and reduce your stress level.
- With our combined healthcare industry and social services knowledge, we can help you uncover unknown benefits and available services that you may not have known about.
Approximately 6 million people (7 percent of adults) struggle with managing the day-to-day task of their financial lives according to AARP (Hylan 2006).
For older adults who live at home and have a full Daily Money Manager in place, they enjoy substantially lower lifetime costs compared with similar hypothetical individuals placed in a care center according to Brookdale Center for Healthy Aging & Longevity.