When you talk to your elderly loved one about important topics, what do you usually talk about? Maybe you have talked to them about the help that they need with personal hygiene, cleaning, or other tasks. Have you talked to your elderly loved one about their finances? As a family caregiver, this may be a talk that you should have with your elderly loved one. There are some tips for having financial talks with the elderly.

Be Completely Honest

If you are going to have financial talks with your elderly loved one, it is very important to be honest. Make sure you let your elderly loved one know why you are having these talks. Have you been worried about their spending habits? Do you want to make sure they are still paying their bills? Have you seen a late bill notice on their table? Honesty is always best when it comes to financial matters. In addition, the more honest you are, the more likely it will be for your elderly loved one to talk to you about their finances.

Taking Them to an Accountant

Has your elderly loved one been handling their own finances for years? Have they been filing their own taxes? This is a great thing for people to do. However, in some cases, it is best for people to work with an accountant. This is often the case with elderly people. As people get older, they may have more trouble figuring out their finances – especially when it comes to tax time. If this is the case for your elderly loved one, you or an elderly care provider may want to take them to see an accountant.

Talk About Scams

One of the best things you can do when talking to your elderly loved one about their finances is to talk about the scams that are going around. Many elderly people don’t realize how often and how easy it is for scam artists to take advantage of them and their finances. You should talk to your elderly loved one about the phone, email, and internet scams. You should talk to them about face-to-face and door-to-door scams, as well. You can easily look up lists of scams that are going around. This way, you have more information when talking to your elderly loved one.

Conclusion

These are some of the tips that you can use when having financial talks with your elderly loved one. With these tips, hopefully, your elderly loved one will be willing to talk to you more about their finances.

If you or an aging loved one are considering hiring elderly care services near Simpsonville, SC, contact Heart of the Carolinas Home Care at 864-991-3116. Providing Home Care Services in Greenville, Simpsonville, Greer, Anderson, Spartanburg, Mauldin, Seneca, Laurens, Charleston, Columbia and the surrounding areas.

Sources

https://www.fdic.gov/consumers/consumer/news/cnsum13/summer2013b&w.pdf

https://www.pbs.org/newshour/economy/making-sense/7-tips-for-talking-to-your-aging-parents-about-money

• Author
• Recent Posts

Edward Harrison

Founder at Heart of the Carolinas

Edward Harrison founded the Heart of the Carolinas Homecare in 2007 when he saw there was a need for caregivers that provide non-medical home care services, at a price that most people could afford. It was standard in the industry to require hourly minimums and it was common to be assigned a caregiver, not matched with one based on your individual personal needs. Edward understood that to make a successful relationship between caregiver and client, skills were not enough, personality and compatibility plays as much a role as do skills.

Latest posts by Edward Harrison (see all)

• Does Your Senior Parent Need Elder Care? - December 11, 2024
• Strategies to Prevent Wandering for Seniors with Alzheimer’s - November 7, 2024
• The Weighing Importance of Senior Home Care in Greenville, SC by Heart of the Carolinas - November 5, 2024