ThriveUSA Advice: Money Management Programs and Services for Seniors

It’s not easy to manage your money at any age, but it can get even harder as you get older.  Money management ranges from paying your bills, monitoring your spending, and writing checks, in addition, to making sure that your money is safe from fraud.   Finances are an area of senior life that needs careful consideration before a problem arises. There are plenty of programs and services that can provide additional assistance.  

Daily Money Management Programs

A daily money management program aims to help manage the finances of aging adults so that they can live independently. Services will vary from manager to manager, but daily money management programs will generally offer some or all the following services:

  • Paying bills
  • Balancing checkbooks
  • Budgeting
  • Transferring funds to various accounts
  • Managing bank deposits
  • Navigating medical bills
  • Writing checks (to be signed)
  • Preparing tax returns
  • Checking financial statements
  • Negotiating with creditors
  • Handling in-house payroll for caregivers and other services

Help with these tasks can be very beneficial for aging adults to help keep their finances organized and their households running smoothly.  They can also protect them from financial scams, which aging adults are, unfortunately, very susceptible to.

Money Management Platforms for Seniors

Mint is a top-rated option for elderly money management. It’s easy to use and provides you with the information you need to stay on top of your finances. Mint is both a website and an app so you can use it on your desktop, tablet, or even your phone.  This program will track your spending and sends you alerts if you’ve gone over your budget. It keeps all of your bills and accounts in one place, so you don’t forget anything. It will also send you an alert when one of your bills is coming due.

BillTracker provides an interface with a simple but clear calendar style, ensuring that you always know what’s going on. You can see at a glance what payments are coming by providing a calendar, with the app backed up by reminders. It’s simple yet straight forward

Budgetpulse is a website that enables you to upload your financial information manually to make a budget and track your monthly expenditure. You can also include targets for monthly savings. This is a great site for those who don’t want to have access to your financial accounts by a third party who then uploads your information automatically.

Furthermore, there is an AARP money management program which provides money management for disabled people and seniors with low income. This is a service that is free. Contact AARP to find out how volunteers can help.

There are plenty of options out there for seniors that may be dealing with money management problems. No one should feel they can’t get the help they need. Just keep in mind that in the end, the best money management program is the one that you’re most comfortable with.

ThriveUSA wants to help you protect your loved ones. As experts in companion care, we are trained in protecting seniors in many ways and giving you peace of mind when you can’t do it on your own. Our thoroughly screened and vetted Personal Care Coaches provide the best care in the business, giving you peace of mind knowing your loved one is safe with an honest caregiver. Schedule your consultation today!

 

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