Relinquishing control of life is tough for everyone.
Nobody ever says that they would like less choice in what they do.
No, people want to be in charge of themselves-both the good and the bad parts of life that come with this control.
So when an elderly parent begins having trouble keeping track of their bills and other financial responsibilities, it is hard for them to come to you for help.
In fact, they might not come to you at all.
As a caring person, you need to ensure that they are taking care of themselves.
This might create some difficult situations and conversations, so it is important to tread carefully should you find yourself in this situation.
For starters, you should not be demanding.
Ask if they would like your help, don't force your help upon them.
If you present it as an obligation that you would assist them in, this is much easier to handle than completely taking over.
So start small.
Determine one or two problem areas and help them walk through the process.
This can be as basic as helping them in organizing their checkbook, or something more complex like managing annuity income.
Either way, you want to be an assistant, not a taskmaster.
For some, even the thought of needing help causes frustration, so you will need to respect the boundaries associated with your help.
You don't need to be a financial expert to assist your elderly parent, but having a professional's help could be useful.
This is especially true for those on a fixed income, such as Social Security recipients.
Knowing how much money they receive each month and how they distribute that money is essential.
If your loved one has many bills, they will need to form a budget so that they pay their bills in a timely fashion but still have enough left over to live comfortably on.
A money management professional can definitely assist in this.
Make sure that you go with your parent to any meetings so that you both understand what needs to be done.
Setting up a budget might not be a fun task, but it certainly is helpful when dealing with finances.
Nobody wants to pay bills or cut coupons to save money, but these things might be necessary for your loved one to balance their financial life.
Besides, the more independent your parent is financially, the better off for you as well.
Helping them to get the most out of their money might take some help on your part, but this help will pay off big time, as long as they are accepting of your help.
If they are completely against you helping, forcing yourself will only cause arguments and resentment.
Nobody ever says that they would like less choice in what they do.
No, people want to be in charge of themselves-both the good and the bad parts of life that come with this control.
So when an elderly parent begins having trouble keeping track of their bills and other financial responsibilities, it is hard for them to come to you for help.
In fact, they might not come to you at all.
As a caring person, you need to ensure that they are taking care of themselves.
This might create some difficult situations and conversations, so it is important to tread carefully should you find yourself in this situation.
For starters, you should not be demanding.
Ask if they would like your help, don't force your help upon them.
If you present it as an obligation that you would assist them in, this is much easier to handle than completely taking over.
So start small.
Determine one or two problem areas and help them walk through the process.
This can be as basic as helping them in organizing their checkbook, or something more complex like managing annuity income.
Either way, you want to be an assistant, not a taskmaster.
For some, even the thought of needing help causes frustration, so you will need to respect the boundaries associated with your help.
You don't need to be a financial expert to assist your elderly parent, but having a professional's help could be useful.
This is especially true for those on a fixed income, such as Social Security recipients.
Knowing how much money they receive each month and how they distribute that money is essential.
If your loved one has many bills, they will need to form a budget so that they pay their bills in a timely fashion but still have enough left over to live comfortably on.
A money management professional can definitely assist in this.
Make sure that you go with your parent to any meetings so that you both understand what needs to be done.
Setting up a budget might not be a fun task, but it certainly is helpful when dealing with finances.
Nobody wants to pay bills or cut coupons to save money, but these things might be necessary for your loved one to balance their financial life.
Besides, the more independent your parent is financially, the better off for you as well.
Helping them to get the most out of their money might take some help on your part, but this help will pay off big time, as long as they are accepting of your help.
If they are completely against you helping, forcing yourself will only cause arguments and resentment.
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