Page 103 - Senior Link Magazine Fall 2021- Online Magazine
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SENIOR RESOURCES
Working with a Daily Money
COULD A DAILY MONEY MANAGER Manager:
It is critical to note that the client
does not give up control of their
finances. On a mutually agreed-to
Be Your Answer? by Paul Young schedule, a Daily Money Manager
will work with a client in their home
or remotely, as both parties take
Does financial terminology Daily Money Manager financial responsibility in working together
about banking, online bill pay, organizing services may include: on financial organizing services. It
reconciling statements, budgeting, is important that a Daily Money
and monitoring suspicious fraud • Online bill payment Manager ensures that the client
activity all seem confusing and understands and is fully aware of
overwhelming, causing you financial • Reconciling account statements how their money is being managed.
anxiety? and monitoring suspicious fraud A Daily Money Manager shall not
activity disclose any confidential or sensitive
Have you been thrust into the role client information without the specific
of financial caretaker for an elderly • Spending plan and/or debt consent of the client. A Daily Money
parent, disabled family member reduction plan Manager shall provide services with
or military veteran, and you feel honesty and trust; the client’s best
unprepared, along with not having • Organizing tax and other interests will always take priority.
the required time to manage these important documents
new financial responsibilities? • Creating a financial back-up plan Free Consultation
As a caregiver for a client, are for emergencies To learn if services provided by a
you overwhelmed with the • Providing monthly reports for Daily Money Manager are right for
responsibilities of managing the daily client to share with a financial you or someone you know, contact
physical and health care needs and team Paul Young at 806-368-9411, to
find yourself unable to find time to schedule a no-cost, no-obligation
manage their financial affairs? • Reviewing and tracking medical initial consultation. Member of
insurance claims the American Association of Daily
Are you going through a major Money Managers (AADMM) – a
transitional life event, such as DMM as liaison with other membership organization comprised
divorce, death of a spouse or major professionals: of individuals who provide personal
illness? Do you feel overwhelmed, daily money management services
stressed and time-crunched, trying to Daily Money Managers are often to their own clients and are trusted
organize your daily financials? tasked with jobs for a client that professionals who abide by the
require coordinating with other AADMM Code of Ethics.
Do you have a financial back-up plan professionals, such as a CPA,
in case of an emergency, due to a attorney, financial advisor, insurance
major health issue that would require agent, social worker or health
your spouse, a family member or care manager. The role of a Daily For more information on AADMM
Daily Money Manager to manage Money Manager requires good go to: www.aadmm.com
your finances? communication and coordination
skills to ensure all aspects of a client’s
You are not alone! financial life run
Yes, there is help out there in smoothly and
dedicated ethical professionals seamlessly.
(Daily Money Managers), who
deliver essential, financial organizing
services to a wide variety of clients,
including seniors/older adults,
people with disabilities, military
personnel/veterans, people in life
transition, busy professionals and
others. Daily Money Managers bring
clarity and order to an individual’s
daily management of personal bills,
budgets, and record keeping.
Lubbock Senior Link 103
