Daily Money Management for Seniors

Daily Money Management (DMM) services may be as simple as paying bills and reconciling the checkbook, or the issues may be more complex.

It has been estimated that 5-10% of all older adults living in the community could benefit from some form of DMM.   Elders who have the following conditions are often in need of DMM.

  • Cognitive impairment
  • Physical conditions that limit a person’s ability to write.
  • Visual impairment.
  • The loss of a spouse, family member or friend who previously handled the person’s finances.

DMM can prevent abuse and neglect.

  • By eliminating opportunities to abuse.
  • Blocking access to assets, or removing the motive to abuse.
  • Ensure that all bills are paid and critical service needs are met.
  • Ensure that rent, debts or other revenues owed to elders are collected.