Think of me as the maid for your financial house. Most people can benefit from assistance with the tedious day to day financial requirements of their busy life. My services would benefit anyone from the busy professional to the frequent traveler to the elderly (or the person/ team caring for the elderly). See specifics below
I also have experience working directly with Attorneys and Accountants on special projects that enable clients to achieve their goals at a significant cost savings.
Who could use my services?
- busy professionals whose careers make finding time for routine paperwork difficult
- Travelers who are away from home for weeks or months at a time
- people with medical issues that make it difficult to keep up with their finances
- people who are unsure and uncomfortable about assessing long-term financial needs (e.g., retirement, college, purchase of a home, home refinancing, etc.)
Some seniors may have a need for DMM services due to a physical change precipitated by the aging process, such as limited vision, dementia, arthritis or other conditions that limit the ability to write or follow through on tasks. For those clients and their families, the DMM will eliminate the concern of missed bill payments (and the potential impact on credit ratings), paying the wrong amount, or paying multiple times. Others may be so active in retirement that travel and social activities make it difficult to keep up with paperwork, and they prefer to let someone else handle things for them. In both cases, the DMM provides significant peace of mind.
It is not uncommon for the adult child of a senior to initially take on these tasks only to seek out the assistance of a DMM. This situation often happens when the child feels unable to find the time or lacks the ability to maintain their parents’ affairs. It is also common for the parent to feel uneasy that their family has to take care of them. I help alleviate this uncomfortable dynamic.
What is a DMM?
Daily money managers (DMMs) provide personal business assistance to clients who have difficulty in managing their personal monetary affairs. The services meet a continuum of needs, from organizing and keeping track of financial and medical insurance papers, to assisting with check writing and maintaining bank accounts. I perform these services as well as many others found on the MENU OF SERVICES Page
What type of tasks does a Daily Money Manager handle?
The expertise of DMMs covers a broad range of tasks, and the actual work they do depends on client need. However, the scope of a DMMs work generally includes the examples below as well as many others found on the MENU OF SERVICES Page:
- Bill-paying, including calls to payees regarding incorrect bills and preparation of checks for clients to sign.
- Balancing checkbooks and maintaining organization of bank records.
- Preparing and delivering bank deposits.
- Organizing tax documents and other paperwork.
- Negotiating with creditors.
- Deciphering medical insurance papers and verifying proper processing of claims.
- General organization assistance.
- Providing referrals to legal, tax, and investment professionals.
How do you charge?
Traditionally, I charge on an hourly basis; however, I am aware of budgetary constraints. It is often more important to pay more than you expected than to pay less than you should. Through my work, many of my clients have experienced a monetary cost savings above and beyond the amounts paid to me. This is in addition to the peace of mind my services provide.
What benefits will I receive?
Everyone loves a clean smelling freshly tidied house. No one likes a stack of bills piled up in their kitchen and few people like the legwork associated with filing their taxes. I will be the maid for your financial house. I help keep your bills current, organized and prepare schedules for your professionals to better serve you in a more efficient manner. I also help the elderly verify that they are paying for the services that they require and help avoid financial scams that prey on them. It’s best to find out about the $5k a month fictitious wind farm investment before the bank account is empty or overdrawn.
If I hire you, will I still need an accountant, attorney, or investment advisor?
Yes, as a Daily Money Manager, I do not take the place of accounting, legal, investment, or social service professionals. I work closely with them by tracking day- to-day financial tasks; organizing records and paperwork; and preparing financial reports for clients’ use in discussion with accounting, investment, or social service professionals. I also handle special projects that may be needed for the other professionals to effectively serve their clients in a more cost effective manner.