Does Your Senior Loved One Need Your Help with Their Finances?
Being a family caregiver for your elderly loved one requires you to take on many responsibilities so that you can help them to handle their needs, challenges, and limitations each day in the way that is right for them. This means recognizing the difficulties that they are having, or anticipating challenges that you feel that they might have, and helping them to find ways to manage those challenges effectively, efficiently, and so that your parent is able to live the lifestyle that they desire.
One task that many family caregivers of elderly adults find themselves needing to take on for their aging parents is managing their finances. With limited budgets, potentially no or very little income coming in, and cognitive health challenges that can make it more difficult for your parent to handle these daily tasks properly, seniors can struggle to manage their finances and can sometimes get into difficult situations. Recognizing that your parent might need help in this area of their life and then taking on the tasks is an important part of protecting their independence, mental and emotional health, and overall well-being as they age in place.
Look for these signs that your senior might need your help with their finances:
- Bills going unpaid. Shift through their mail when you are visiting them and look for notices of unpaid bills. If your parent has a stack of unopened bills or various second and third notices, they might need you to help them remember when and how to pay their bills.
- Utilities being cut off. If your parent keeps their mail out of sight or you are not able to get to their home frequently you might not have the opportunity to review their bills to detect that they are having difficulty. Instead, you might get a phone call that their water, electricity, or other utility has been shut off.
- Overdraft notices from the bank. Virtually everyone miscalculates and overdrafts their bank, but if your parent is generally conscientious about their account and then starts to overdraft frequently, it may be time for you to step in and make sure that they are not only using their money wisely, but also that they have the budget that they require to manage their basic life needs. It is important to keep in mind that this may also be a sign that your parent could have been victim of identity theft, so it is important to look into these notices carefully so that you can take the proper steps to resolve them if needed.
If you have noticed that your aging parent has needs that you are not able to handle confidently, or you simply feel that they would benefit from additional support and assistance, now may be the ideal time for you to consider starting care for them. Having a home care provider in the home with your parent is an exceptional way to fill any care gaps that might exist in the efforts that you provide, as well as to simply enhance your senior’s life with more support, more companionship, more activity, and greater independence. For them, this means the quality of life that they desire and deserve throughout their later years. For you as their family caregiver, it means having peace of mind knowing that whether you are able to be with them at all times or not, and regardless of your own personal limitations and challenges, your senior is getting everything that they need to stay happy, healthy, safe, and comfortable as they age in place.
If you or an aging senior in your life are considering hiring a professional caregiver in Newport Beach, CA, please contact the caring staff at In Home Care Solutions today. Call (949) 250-0125 to speak with our caring staff.
Dr. Kay got her medical education in Brazil.
Dr. Kay also has a master degree in Film and Television from UCLA and has been an adviser for medical television shows.
Dr. Kay is very active in the Health Industry. She is a member of the American Board of Home Care, the National Association of Home Care, CAHSAH, California Association of Health Services at Home. She co-chairs the education committee for the Down with Falls Coalition. Dr. Kay is in the speaker’s bureau for the coalition helping educate health care professionals and the community on fall risks, diabetes, adverse drug reaction, dementia, Parkinson’s disease, dehydration and nutrition, etc…. for older adults.
Dr. Kay was nominated by the National Association of Women Business Owners (NAWBO) as the Remarkable Woman of 2008.
Dr. Kay is actively involved in many philanthropy and non-profit organizationssuch as the American Cancer Society, Susan G. Komen, the Philharmonic Society, Women Helping Women, Youth Employment Services, E-Women, Women Sage, Plasticos Foundation, CIELO and others.
Dr. Kay’s passion is to assist seniors to live long and thrive in the comfort of their own home.
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