Financial Planning Tips for Caregivers

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Financial Planning Tips for Caregivers

[vc_row][vc_column][vc_column_text]Family caregivers may find it difficult to focus on managing the finances of two households. They may have to handle a senior loved one’s finances while keeping their own finances in check. Here are some tips you can use to manage your money while providing high-quality care.

One of the most challenging tasks of helping an elderly relative age in place safely and comfortably is researching agencies that provide homecare services. Frederick families can turn to Assisting Hands Home Care for reliable, high-quality in-home care for aging adults. We offer 24-hour live-in care for seniors who require extensive assistance, and we also offer respite care for family caregivers who need a break from their caregiving duties.

Write It Down

Many people are amazed at the amount of money they spend without thinking. Keep a notebook and write down every time you spend money. Over time, you’ll be able to evaluate where the money is going. Make changes where necessary so you can handle the responsibilities.

Pay the Main Bills First

While it may be tempting to splurge on an expensive dinner, pay your main bills first. Pay your housing, utilities, and other main expenses in an organized manner. Put these payments on a calendar so you know exactly when you must pay them.

Ask Family for Help

Just because you’re the primary caregiver doesn’t mean you need to bear all the expenses. Keep a record of all the money you spend on taking care of your loved one, and ask family members to help you cover the expenses. The best time to ask is when there’s no crisis, because everyone is likely to be calmer and more likely to make rational decisions.

If your senior loved one has been diagnosed with a serious condition and needs help with tasks like meal prep, transportation, bathing, and grooming, reach out to Assisting Hands Home Care Frederick, a leading provider of senior care families can trust. We also offer comprehensive care for seniors with dementia, Alzheimer’s, and Parkinson’s.

Accept Help

Many government programs are designed to help families with low incomes. If you find it difficult to accept help, remind yourself your taxes pay for programs such as these. Also, private programs are funded by people who truly want to help.

Aging in place can present a few unique challenges for older adults. Some only require part-time assistance with exercise or meal preparation, while others are living with serious illnesses and benefit more significantly from receiving in-home care. Frederick, MD, Assisting Hands Home Care are leaders in the elderly in-home care industry for good reason. We tailor our care plans based on each senior’s individual needs, our caregivers continue to receive updated training in senior care as new developments arise, and we also offer comprehensive care for seniors with Alzheimer’s, dementia, and Parkinson’s. To create a customized in-home care plan for your loved one, call us at (301) 786-5045 today.[/vc_column_text][/vc_column][/vc_row]