Managing finances is not always fun, but doing so requires more skills than you might think. As our loved ones get older, they may not be able to manage money as easily as they once did. Their memory may be weaker, and it’s easy to lose track of what’s been paid or not. That can lead to costly and confusing errors.
Fortunately, there’s a business to help with financial and care management for seniors. Secure Aging brings personalized care to each of its clients so their families can worry less.
Taking over money management for a loved one is “like giving up the car keys,” says Secure Aging owner Reba Rogers. “It’s a pride issue. They don’t want to admit that they can’t do the bills anymore.”
It’s not easy to do, but sometimes it’s necessary if a loved one is no longer equipped to handle finances themselves. However, Rogers has seen first-hand what can happen if the finances slip out of control. The person becomes inundated with late-payment notices. Sometimes, utilities can be turned off due to non-payment. And because the senior is not keeping track of what’s been paid, he or she may give money to charities and not-always-reliable organizations multiple times.
Rogers and her colleagues see both situations where the client is open to receiving help—and situations where they refuse to believe they need help. In those cases, it’s another family member, such as an adult child, who realizes the need for financial management assistance.
Although an adult child may be able to help mom or dad with financial management, it can create an awkward situation, says Rogers, who is a CPA. The parent may feel judged about how he or she has spent money, and the adult child may feel it’s an extra burden. By letting someone else handle things, the child (or other family members) can maintain their role. To quote from a testimonial on the Secure Aging website, “Secure Aging staff have allowed me to be a granddaughter again. My grandma not only has her personal business taken care of, but she also has a constant friend that truly cares for her. That kind of care is priceless.”
Secure Aging offers three packages to families. Their Basic Package is for a senior who needs a little help with reviewing bills for accuracy and paying them on time, depositing income into bank accounts, and reviewing mail received. The Enhanced Services covers the basic package but also lets Secure Aging monitor bank and credit card activity for fraudulent activity, among other things. In the Advocacy Package, seniors with a mental or physical impairment who need additional help also involve Secure Aging in hiring and overseeing home health and other service providers, monitoring safety and well-being, and serving as a health-care surrogate. The average service price is based on $75 an hour.
One reminder that Rogers has is that Secure Aging never obtains complete control of your loved one’s finances. “We never have check-signing authority. We don’t want the fox guarding the henhouse,” she says.
For more information on Secure Aging, call 941-761-9338. Or, visit their website at www.secureaging.com.
Thanks for reading our blog. At Home Helpers, we look to not only make life easier but to also make a difference in our clients’ lives. It is truly an honor to have an opportunity to work with members of our community and we take the trust bestowed to us very seriously.
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For information about how Home Helpers can serve you and your family, call (941) 499-5946 or visit Elder Care Bradenton FL - Home Helpers. Our senior home care services including homemaker care, companion care, personal care, Alzheimer's and dementia care, respite care, 24-hour care & live-in care, and monitoring and medical alert services.