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Elder care costs are WAY too high. You can take some easy steps to help your aging parents keep them as low as possible.
Many seniors have their parents living with them at home. This is not easy but can be much less expensive.
This may require some changes around your house.
Whether it is a handyman or a respite service, there may be some up front expenses.
Your aging parents need your advice and expertise with their finances. You know how to manage your own finances and you've done well. Now your parents need help. Most financial institutions have elder care products to make it easier.
- Help your aging parents set up with a bill paying service with the bank or their credit card.
- Reduce the amount of cash that they need to carry around by using credit card.
- Obtain access to their online accounts to occasionally monitor timely and adequate payments and deposits
- You can be a back-up for their money affairs to help minimize fees and charges and scams and the risks of being taken.
When your aging parents can worry less and feel more secure, you are helping them feel comfortable at home. You can keep them out of more expensive living conditions.
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