Three Big Reasons Why You Must Monitor Your Dad’s Bank Account Daily

Home Health Care in San Francisco CA: Watching Your Senior's Finances

Home Health Care in San Francisco CA: Watching Your Senior’s Finances

How often do your monitor your dad’s bank accounts? Many adult children don’t check their parents’ accounts at all.  You should be checking your dad’s accounts every day and here’s why.

 

Financial Abuse is Prevalent

Based on the Bureau of Justice Statistics, 2.6 million people aged 65 or older have had their identities stolen.  In the U.S., 1 out of every 10 seniors has experienced some form of financial fraud.  Financial fraud may be a phone or mail scam, an email, or a TV scam.  Financial abuse may also be committed by people like friends, investors, family members, contractors, and advisors.  Most cases of abuse go unreported.

 

Spending Can Be Out of Control

Many seniors buy things they don’t really need.  If you notice your dad is spending hundreds of dollars a month on groceries, he’s likely overspending.  Check his fridge, cupboards, and freezer.  How much food does he really need?  Is he wasting food by not consuming it all by the expiration date?  Many seniors will buy a large quantity thinking the lower per pound or per unit cost saves them money.  If they’re only using a third of the item and throwing the rest away, they’ve wasted money.

Talk to a caregiver about creating a weekly menu that matches your dad’s budget.  Take him shopping for the necessary ingredients and explain to him the best ways to follow the budget. This prevents both overspending and wasted food.


Bills May Not Get Paid on Time

Is your dad paying his bills on time?  If you’re checking his account daily, you’ll be able to verify that his phone carrier, Internet provider, cable company, and electric company are paid on time.  If you notice a bill isn’t being paid regularly, you can talk to him and find out why.

You should help him set up bill pay and use that to track bills each month.  If he still struggles, a financial power of attorney should be set up to help your dad manage his money.  That person should be someone good at handling money and who you know your dad can trust.

If you try to handle your dad’s finances and also his care, you’re bound to burn out.  That’s why it’s so beneficial to have a senior care professional working as your partner.  While you focus on finances, you’ll be less stressed knowing your dad’s emotional and physical care needs are covered.  Call a senior care agency today and learn more about the benefits of home care.

 

If you or an aging loved-one are considering home health care in San Francisco, CA, call the caring staff at Aviva In-Home Care. Call today: (415) 795-2203

 

Sources:

https://www.justice.gov/elderjustice/file/896941/download

Evan Loevner, CEO

As a former hospital administrator, I launched Aviva with the goal of having a more focused, direct impact on the delivery of care than I could ever accomplish within a hospital setting. For me, the joy of running an organization like Aviva In-Home Care is having the ability to positively improve the lives of individuals needing customized care. As a passionate San Francisco resident, I know that many local seniors can benefit from new approaches to in-home care, that will bring them more connection to the community, and provide families with a greater sense of comfort that their loved one is indeed matched with an ideal caregiver. This starts by including the family throughout the care planning process, a key component of the concept of “family-centered care,” which has been adopted by top medical centers. A strong communication loop between family, the caregiver, Aviva management, and community healthcare practitioners is essential for ensuring that all the needs of the client are met. While this may not sound like a novel concept, it is not commonly practiced within the home care community.

At Aviva, we also use the latest in health technology to maximize opportunities for communication between all members of our client’s care circles. We utilize nursing oversight to ensure that we are in compliance with physician orders, and that our careplans are being properly administered. Lastly, Aviva is a proud member of The Senior’s Choice, a national network of leading home care agencies that share best practices and focus on continual improvement.

As owner of the business, I also promise to you my direct involvement in your loved ones care, and will always make myself available for feedback and improvements in our service. I look forward to working with you and your loved one on creating a care plan that is perfectly suited to the family's needs. Thank you for considering Aviva as your care partner.