Managing Money - Another Caregiver Task | Elder Care Home ...

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Boca Home Care Services keeps people, especially Seniors, safe and independent in their homes. We also help bolster the primary caregiver ? usually a spouse or adult offspring. In addition to all that the caregiver is tasked with, finances can become quite a burden. It is very important and time consuming. Learn about some websites which can offer valuable information.

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In addition to routine household finances, caregivers often have to learn to decipher complicated medical billing and learning about tax codes for seniors or other expenses beyond medications, such as home safety gadgets ? grab bars, Medical Alerts or Personal Emergency Response Systems among other things. Unless you are a bookkeeper, accountant or naturally competent with finances, you likely will benefit from some help from professionals.

Boca Home Care Services recommends at least a consultation with an Elder Care Attorney and a Financial Planner well versed in Senior financial matters. You may need to help your aging loved one manage their funds for another 25 years after retirement. You would also learn about different government and community programs or benefits such as Veteran?S benefits, Holocaust Survivor programs, Diversion programs and medicaid.

There are also many websites geared to money management for Caregivers and Seniors. We do not endorse any site but want to share them with you to explore on your own. Remember, just because it is on the Internet ? doesn?t make it true. But there is a lot of true and helpful information to be gleamed. Beware though, not everyone is comfortable with having accounts and financial information online. It is a personal decision.

Mint.com is excellent for pulling in all your accounts and expenditures to see where you are spending your money. It will help you with money management.

Manilla.com will pull in all of your bills and remind you when each needs to be paid.

Bankrate.com will help you to find the best deals on credit cards and other products tied to interest rates.

Annualcreditreport.com will let you know your annual credit report which is your legal right.

If you are comfortable in doing so, give up some of your financial tasks to a trusted family member ? most likely a son or daughter.

Or, take 3 of your regular bills; electric, cable, maintenance for instance and go to your bank to get ?automatic bill paying? added to your account. YOU WILL STILL NEED TO RECORD THE DEBITS IN YOUR CHECKBOOK, but the bank will automatically pay these bills.

To manage another?s money, you may want to consolidate accounts, combine credit cards and chart out a weekly or monthly budget for them.

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Related posts:

1. Planning for your Aging Parent?s Financial Future
2. Be a Healthier Caregiver
3. Holiday Stress meets Caregiver Stress: A holiday tale of horror

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