The management of personal finances has a great impact on whether people over the age of 65 can remain independent. Southwest 8 Senior Services will be taking part in a new AARP Money Management program beginning in late February or Early March which will provide financial management solutions to seniors.
The Program will consist of services geared toward helping senior individuals who are otherwise unable manage their funds due to disability, forgetfulness, having poor eyesight and other factors. The services are split into three distinct categories:
• Bill Payer services will provide volunteers to balance checkbooks and pay bills for people who are still in control of their finances but need help keeping things organized and paid on time. The Bill Payer also writes the check for the client’s signature.
• Representative Payee services provide volunteers who are appointed by a federal government agency to receive and manage a government benefit (such as a Social Security check). The Representative Payee also signs the checks and provides the client with a monthly cash allowance.
• Monitors conduct a periodic review of all client accounts, comparing monthly activity reports to both bank statements and budgets for unusual transactions or accidental losses such as insufficient funds charges. They also examine Representative Payees’ accounts and check for federal and non-federal sources of income, large balances that could jeopardize a client’s benefits, and unusual transactions or service charges.
The purpose of AARP’s Money Management plan is to manage routine finances and ensure bills are paid on time, preserve independent living and to reduce isolation among older individuals.
Volunteers are an essential part of this program and Southwest 8 Senior Services is still recruiting. Training will be held in late January or early February; dates will be announced.
“I’ve helped a couple great guys who have taught me a lot about life,” said Fred, a volunteer for the Money Management program.
“After living a comfortable life myself, I was now working with people who were just trying to survive on Social Security alone,” said Dale, another volunteer for the program. “It was a wakeup call. It gives you a warm feeling to interact and help these individuals.” Dale said because of the interaction with his clients, both his and his clients’ lives have improved.
For more information about the AARP Money Management Plan at Southwest 8 Senior Services or to become a volunteer, please contact Aubury Krueger at 712-328-2540 ext. 32.
