by Ted Holmgren
Published Wed, Jan 3rd 2018, 13:49 | Health
Many seniors might find it difficult to manage finances after retirement or end up spending more for the sake of pleasure. The experts at Scottsdale caregiver agency has shared a few ways to help family caregivers keep their loved one's finances in check.
1. Examine Your Own Motives before Questioning Theirs
If you are thinking about inheritance above everything else, then you may have a very self-centered mindset and might not be thinking about your loved one's best interests. Put aside your expectations and trusts seniors to make a better decision for themselves.
2. Get Your Facts Straight
Find solid proof if you think your loved one is spending too much of his or her retirement money. You should regularly check in with your loved one's finances to ensure he or she doesn't end up owing money. Learn how much money your loved one spends on a daily basis or has in his or her bank account. Seniors, who have a bunch of unpaid bills due to their inability to pay means poor financial management.
3. Put Yourselves in Your Loved One's Shoes
Thinking from your loved one's perspective may help you to develop a non-confrontational and caring argument to talk about financial issues. Find solutions to control your loved one's expenses without being angry or authoritative. It may not be easy to speak with your loved one on their financial status, but it's your duty to look after their needs.
4. Have a Meaningful Conversation with Your Loved One
Find a peaceful time and location to talk at length with your loved one when everyone will be together to discuss the matter in a private setting. It's better to bring up the issue when seniors are feeling relaxed to make sure they don't feel agitated. Pretend as though you are seeking financial help from your loved one about budgeting and saving. Instead of accusing your loved one, ask about how he or she is budgeting post-retirement or have any financial plan. Having no financial plan can be dangerous along with any indications that they're not comfortable living on a fixed income.
5. Listen to Seniors without Judgment
You may feel annoyed or angrier that your loved one seems to be spending a lot of money and don't have a financial plan to accompany their expenditure. However, you must listen to seniors and their reasons, before making any kind of judgment about their finances. Seniors often don't like if family caregivers order them to do things or ask several questions at once, especially about their finances.
6. Urge Seniors to Work with a Financial Consultant
A certified financial planner can help your loved one assess and determine a budget allowing him or her to accomplish many things without going broke.
Author Bio
Ted Holmgren has spent his life helping people lead more fulfilling lives. Most recently, he has been associated with Home Care Assistance of Scottsdale. He is happy to accomplish his passion for improving the lives of seniors through the written word.