Everyday Money Management

When was the last time you added up how much you were spending on Starbucks each month or reviewed all your monthly subscription charges?

While all your individual purchases may be small, they can eat up your monthly budget and prevent you from reaching your financial goals.

As the senior population continues to grow and outnumber younger generations, the number of people experiencing elder abuse is on the rise. In fact, 1 in 6 people above the age of 60 have experienced some form of elder abuse in the last year.

Learn how you can spot and prevent elder abuse.
https://www.everydaymoneymanagement.com/blogs/prevent-elder-abuse

If you are seeing red flags on your client’s finances and worried that cognitive decline may be a factor, consider partnering with a daily money manager.

DMMs don’t take the place of financial advisors, but rather work in tandem to track day-to-day spending and help keep clients on track with their long term goals.

Are you responsible for managing the finances of an older adult and finding it challenging to keep up with their bill payments?

Consider using online bill pay.

Like many of our clients, you might think technology and your aging parent (or client) don't mix. However, when set up correctly, online bill payment can be an excellent way to monitor and manage finances, especially if you are doing so remotely.

Our top tip for effective online bill payment is to create a dedicated email address specifically for the senior’s billing and banking notifications.

Chances are you have a basic idea of the bills you pay each month – be it a mortgage or your Netflix subscription – but when was the last time you really looked at your bills and thought through whether you really needed everything you’re paying for?

Join our challenge and we’ll help you pull together information that will help you take a good look at your finances.

https://www.everydaymoneymanagement.com/whole-life-list-email

Feeling overwhelmed by financial management? A Daily Money Manager (DMM) can help you gain control of your finances, giving you the mental space to handle other tasks and challenges. We often refer to ourselves as financial caregivers, offering compassionate support and attentive listening.

Many adult children face the tough task of managing their parents' finances, which often shifts relationship dynamics. Learn how Daily Money Managers can help ease that burden and provide the support you need in this article

https://www.everydaymoneymanagement.com/blogs/who-needs-a-therapist-if-a-dmm-might-do

Social isolation poses serious health risks to millions of older adults — it has been linked to higher blood pressure and increased risk of stroke, among other things.

Celebrate by reaching out to your elderly loved ones and seniors in the community and help create a sense of connection.

Errors in medical bills can deplete your savings fast. But, understanding the details of your bill and understanding insurance coverage can be overwhelming.

Our financial consultants are here by reviewing your bills and insurance policy to spot any errors. If we find one, we’ll represent your interests with insurers and medical providers to work towards a resolution. Don't let billing errors impact your finances.

According to a report from the Disabled Living Foundations, fear losing their independence more than they fear dying.

Daily Money Managers can help older adults maintain their independence longer by removing the frustrations often associated with budgeting, managing debt, tracking medical claims and even fraud resolution.

Did you know that there are professionals that can help you navigate the healthcare system to make sure you, and your loved ones, are getting the best care possible?

They are called Health Advocates.

https://www.everydaymoneymanagement.com/blogs/health-advocates

May is ! The 2024 theme, , recognizes the profound impact of meaningful relationships and social connections on our health and well-being.

Learn more at acl.gov/oam

As we age, our eye sight worsens – especially in the dark. Installing lights with motion sensors can help seniors move around the house more easily during evening hours.

If you are helping care for a loved one – or there’s a chance someone will need to help care for you – having medical records at your fingertips will make things easier.

As part of this month’s , we’ll be gathering details on your doctors, medications and insurance.

https://www.everydaymoneymanagement.com/whole-life-list-email

Considering a debt management plan? If you're juggling various debts like credit cards, student loans, car payments, or medical bills, it could be a smart move. Our financial experts are here to help you tackle debt efficiently and craft a plan to get you debt-free faster.

https://www.everydaymoneymanagement.com/financial-problem-solving

Having a pet helps you get out of the house, meet new people, and get some exercise. While just about anyone can benefit from having a companion animal, it’s especially valuable for living alone.

Spring has sprung, and it's not just for nature or organizing your house—it's an ideal season for financial rejuvenation, too! In this article we will explore 6 simple ways to freshen up your finances.

https://www.everydaymoneymanagement.com/blogs/6-ideas-to-spring-clean-your-finances

Handrails are the best way to help prevent your elderly loved one from falling.

Lights with motion sensors can also help seniors move around the house safely.

Have you heard of elder law?

Elder law helps you and your loved ones deal with legal issues that can arise as we get older, such as retirement, living wills, health care and more.

Check out this article from to learn more...

https://www.legalshield.com/blog/family-law/elder-law-top-5-things-to-be-aware-of

Most of us think of a budget as something that’s restrictive, preventing us from buying the things we might "want".

However, the real purpose of a budget is to give you a clear picture of your finances and help you achieve your goals!

Think of a budget like a diet.

You can still have a cookie, just not the entire box!

If you itemized your expenses during this year's tax season, you might be surprised by your spending habits, especially on subscriptions.

From streaming services to fitness apps, many of us sign up for subscriptions we no longer use.

Take a moment to review all your subscriptions and evaluate what's truly essential.

https://www.everydaymoneymanagement.com/blogs/our-lives-by-subscription-only

Don't overlook that hefty sum you send to Uncle Sam annually.

At the age of 50+, you qualify for significant tax benefits that you won't want to miss.

This article from shares several key tax breaks for seniors.

https://www.aarp.org/money/taxes/info-2024/tax-breaks-after-50.html

If something were to happen to your parents, do you know how to get in touch with their lawyer or financial advisor to manage their estate?

Our task for this month will help button up these details.

https://www.everydaymoneymanagement.com/whole-life-list-email

Managing insurance disputes can be a cumbersome and overly complicated process, especially if you struggle to understand exactly what your policy covers. Please reach out if you need help reviewing your bills and benefits policy.

https://www.everydaymoneymanagement.com/financial-problem-solving

As your parents age, it's highly likely that you'll need to take on a role in managing their finances. This responsibility can significantly impact your own financial well-being if you're not adequately prepared and informed. It's time to start asking financial questions!

Taking control of your or a family member’s financial well-being can be overwhelming. Luckily, resources like The Consumer Protection Financial Bureau (CFPB) provide a wealth of information on key financial best practices and potential hazards.

Check out this article for resources we recommend for you.
https://www.everydaymoneymanagement.com/blogs/looking-for-help-with-financial-education-for-yourself-or-a-loved-one

Are you aiming to be in retirement? According to The Penny Hoarder, hiring a daily money manager could be the game-changer you need! Find out how they can make a difference in your financial journey. Save money and reach your goals!

https://www.thepennyhoarder.com/debt/retirement-debt/

Downsizing can be tough, especially when our stuff has sentimental value.

If you're finding it hard, you might want to think about getting help from a move manager. They're like social workers for your belongings, giving you useful tips to make the most out of the experience.

With their guidance, you can downsize with less stress and still keep the meaning behind your cherished items.

https://www.everydaymoneymanagement.com/blogs/3-tips-for-working-with-a-move-manager-to-downsize

It always amazes me how many people don't have the right legal documents to protect themselves while they are still alive.

https://www.everydaymoneymanagement.com/blogs/got-a-will

Today is Slam the Scam Day, a time to raise awareness and fight back against scammer's deceptive tactics. Let's protect ourselves and others from falling victim to scams. Here are tips on how to protect your loved ones from scammers.

https://www.everydaymoneymanagement.com/blogs/helping-mr-dell-how-to-protect-seniors-against-scams

Figuring out taxes for yourself is a daunting enough task, let alone trying to determine if your parent with dementia has tax liabilities. The biggest sticking point is establishing that you have the proper Power Of Attorney and are authorized to handle their financial affairs. Be sure to have the necessary documentation before trying to request transcripts.