DAILY MONEY MANAGEMENT FOR SENIORS â€“ WHAT ARE THE BENEFITS? Daily money managers are becoming the go-to professionals for many aging seniors when it comes to managing their daily finances. Paying bills, filing insurance claims, balancing checkbooks, managing investments, and doing taxes can be too much for seniors who also deal with health and memory issues. This is why daily money management makes for an ideal service for seniors who need assistance in handling certain aspects of their finances. Perhaps your elderly loved one only needs monthly reminders to pay their bills or a more comprehensive service to help them manage more involved aspects of their finances. Daily money management programs can empower Seniors to live independently for much longer and retain their independence. A daily money management program provides personal financial assistance to seniors who can no longer keep with their personal finances. DMMs typically provide services like bills payment, financial record maintenance, budget preparation, checkbook, balancing, and creditor negotiations, among many others. A DMM can likewise prepare checks for seniors to sign, as well as help elders organize their financial and other bank records or gather tax return documents, deliver bank deposits, decipher medical bills, prepare bank related documents and even review bank statements so that any potential financial abuse and/or fraud can be detected and prevented. A daily money manager is highly recommended for elders who can no longer keep track of their financial obligations, bills, and other financial documents; those who forget to pay their bills fairly regularly; are unable to write checks due to arthritis and other debilitating health issues; are having trouble getting themselves to the bank; and are highly susceptible to various financial scams. Needless to say, daily money management for seniors are beneficial because to relieve the burden of money management on caregivers and help seniors maintain their independence, while protecting them against potential scams that typically victimize seniors.