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-- Programs and Services -- Contact Information Money Management program provides peace of mind
By Angela Fields
Mrs. Smith, a 70-year old Berkshire County resident, suffers from Parkinson’s disease. She loves to read, but worries about being able to pay her bills on time. Her hands are so shaky that it is difficult for her to write. Smith’s son does not live locally and has trouble helping her from a distance.
Mr. Jones recently suffered a stroke resulting in impaired memory and motor skills. He needs help budgeting his money and paying his monthly bills to maintain his independence. He would like to be able to return to handling his finances himself.
Mrs. Brown suffers from macular degeneration, and is legally blind. She needs someone to read her bank statements, make entries into her check register, sort her mail, and write her monthly checks.
While the names identified above are fictitious, the individuals and their situations are very real. They are three of the many individuals being helped through the Money Management program at Elder Services. AARP Foundation, MASS Home Care, and the Massachusetts Executive Office of Elder Affairs sponsor the Money Management program, which provides seniors with limited monetary resources with help in managing their household finances. The program has three types of volunteers: bill payers, representative payees, and monitors.
Volunteers are screened and trained by the program manager, and matched with a person who has who has requested money management assistance. After an initial meeting and a signed agreement, the volunteer meets with the client at least once a month. All information is kept in strict confidence. Quite often a long-lasting relationship develops between the volunteer and client. The bill payer may read and sort mail, reconcile the checkbook, and prepare checks for payment. Those participating in this program must have or be willing to open a checking account and be able to sign their own checks. The volunteer also helps to develop a budget to manage monthly expenses. In addition, volunteers submit monthly reports to the program manager. Accounts are monitored every three months by a third party volunteer who is insured by the AARP Foundation.
In the case of representative payees, the Social Security Administration appoints a Money Management volunteer to handle the Social Security benefits for someone not able to participate in his or her own bill paying. The person’s Social Security check is directly deposited into a designated account, and the representative payee pays the client’s bills from this account and provides the client with monthly spending money.
The program manager supervises the volunteers and also provides on-going support and trainings. The Money Management program is available to people 60 years and older with an income of $22,947 per person or $32,470 per family or less and with liquid assets not exceeding $35,000. If you would like more information about the Money Management program, call Elder Services at 499-0524 or 800-544-5242.
Angela Fields is the Money Management Program Manager