Real Life Real Faith Women Walking By Faith May/June 2016 | Page 22
•
Your employer may have special assistance programs
and flexible rules for caregivers.
Check
what is available
6• You may also want to monitor the loved one’s activity
on social media. Scams are common, and the elderly are
and use the assistance if you need it.
3. Find out about your loved one’s finances.
As
often targets online.
your loved
ones age, they may have trouble keeping track of their
finances.
Be
aware of the pensions, benefits, and savings
accounts that they own. They can use this money to help
take care of themselves.
• Aging
can affect your family member’s ability to pay
their bills. You can help by taking over some of the
6.
Consider
how much you can help.
Check
on public benefits. Is your loved one receiving the
maximum amount of Social Security and other benefits?
this affect your personal finances and your family? It’s
tempting to help in any way you can, but it’s important
to consider all of the financial aspects.
• Caregivers
are often stuck paying family member’s
medical bills, groceries, housing expenses, and other
bills.
• Although
you can try to continue working while you’re
a caregiver, you may still run into emergencies that call
you away from work.
•
Public benefits can help you handle the expenses of
you afford to be
a full-time caregiver for a family member? How will
responsibilities of maintaining their home and lifestyle.
4.
Can
Can
you handle missed work days
and the consequences of these emergencies?
caregiving. Your loved one may qualify for federal, local,
or state benefits.
Contact
your local agencies for the
elderly to see what’s available.
It’s important to understand the responsibilities that
come with taking care of an aging family member.
Caregivers
5. Monitor your family member’s accounts and financial
activities.
Aging
can make people vulnerable to scams
and other issues.
who understand the financial consequences
of their new roles can make wiser decisions. Preparing
in advance will give you time to find benefits that are
available to your loved ones and create a plan that
works for both of you.
• As
a caregiver, your responsibilities extend beyond
making sure your family member is eating healthy food
and taking medication. Stay aware of their financial
activities and monitor every account.
Latasha Kinnard is the
CEO
and
Chief Coach
at Start
Young Financial Group where she helps young
professionals and business owners increase financial
productivity. Twitter:
@Latasha_Kinnard
Email:
[email protected]
WOMEN WALKING BY FAITH MAGAZINE | 22
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