Money Management

It doesn’t take much in today’s world to get overwhelmed or nervous when bills are not being paid or paid late. Serious illness, loss of family support/spouse, or just difficulty in reading can be some of the reasons for seeking assistance.

The MONEY MANAGEMENT PROGRAM at Elder Care Services provides financial management assistance free of charge to qualified seniors. Sponsored by the Illinois Department on Aging, this program is a protective service for those needing help managing their finances to keep them independent. This program is known statewide as the Illinois Volunteer Money Management Program. The Illinois Department on Aging provides program policies, procedures, and materials. Ongoing training, support and supervision are provided through the Money Management Coordinator at Elder Care Services. If you or a loved one need help managing finances, our in-home service has two separate and distinct programs which are custom designed to meet the needs of each client.

Are you able to remain in control of your finances but need help keeping things in order? Then the Bill Payer Program is for you. Trained volunteers can assist with:

  • Opening, reading and organizing mail.
  • Writing out check (for your signature) and checkbook balancing.
  • Establishing a budget.
  • Intervening with creditors.
  • Assisting with financial assistance applications.

If you or a loved one are no longer capable of handling your finances, let our Representative Payee Program manage your money. Elder Care Services is appointed by the Social Security Administration to manage monthly federal benefits of a client determined incapable of handling his or her own finances. A separate bank account is opened with benefit checks automatically deposited. The representative payee volunteer, under the direction of the Money Management Coordinator manages and pays the client’s expenses from this account. Our Money Management Coordinator will work with you in determining if the Bill Payer or Representative Payee program is the best fit for your circumstances.

Program Safeguards:

  • Insurance coverage of client funds.
  • Volunteers are carefully selected, trained and provided ongoing support.
  • Volunteers only work from one designated bank account.
  • Volunteer activity and accounts are monitored on a monthly basis.

Who Is Eligible?

Individuals must meet eligibility criteria that are based on limits in income and assets. Contact Elder Care Services to complete an in-home assessment to determine if you are eligible for the Money Management Program.

Please contact us today.  Whether your situation needs short-term or long-term help, our staff will be happy to answer any questions that you may have.

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