Tips to Help Elderly Parents Manage Their Finances
If your elderly parents need help with day-to-day financial management but you don’t live near them, there are other options besides you personally paying their bills, points out a recent Savvy Senior column:
If your mom needs help with her financial chores, arrange for direct deposit of her Social Security and other pension checks (see www.godirect.org), and set up automatic payments for her utilities and other routine bills. Or consider hiring a professional daily money manager (they charge between $25 and $100 per hour) who can do it for her. See www.aadmm.com or call (877) 326-5991 to locate one.
(In-home care aides can also help with the bills, by the way.) The column, “Tips and Resources for Long-Distance Caregivers,” has more ideas for helping your parents long-distance in different ways, not just financial.
You may also be interested in:
- Long-Distance Caregiving: How a Geriatric-Care Manager Can Help
- Tips on Caring for an Aging Parent Long-Distance
- Long-Distance Senior Care: How to Make a Virtual Visit
Leigh Ann Otte is a freelance writer who specializes in health and aging issues. She covers finding and paying for senior care for OurParents. If you have any questions about this post or need help finding senior-care options for a loved one, call 1-866-483-4896 to speak with a care advisor in your area.