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Consumer credit counseling may help moms organize finances
By Sam Craine on May 6th, 2010
Mother's Day can present more than just a time to reflect on a personal relationship, it can also afford the chance to make sure people aren't taking advantage of older parents.
According to the National Association of Professional Geriatric Care Managers, there are ways for children to make sure their mothers are being bilked by thieves. For example, children should make sure there are no unexplained transfers or withdrawls on mom's bank accounts.
"As professionals called in to help families cope with the challenges of an aging loved one, we sometimes see elder financial abuse as an issue," said Linda Fodrini-Johnson, NAPGCM president.
Other tactics include people making sure their mothers have been keeping up on their various bills, including those associated with utilities. Kids should also warn their mothers about any solicitations they receive on the phone or through the internet, as they can open people up to various scams.
While children can't always be around to make sure their mother's finances are in order, there are agencies that provide such a service. A consumer credit counseling organization can help by setting up a budget or analyzing monthly expenses.
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