Managing Senior Family Members' Household Bills | Tacoma Downtown Merchants Group
As family members age, finances can cause a huge strain on families. Parents and other family members, who used to be authority figures in your life, are now reliant on you to help with their household bill management. It can be a daunting task to manage not only your bills but also the bills of senior family members. Here are some great ways that can simplify the process, make it more manageable, and hopefully ease the burden on you. Have a Plan in Place Having a plan in place with your senior family members, before you hit the point where you actually have to control their bills, is key. Talk with these family members as they get older and ask them: What are their priorities? What are their future income streams? How much will they be receiving from Social Security and their retirement accounts? Do they want to travel? Where will they live? All of these questions should be asked before you have to take over the management of household bills. Cover Basics First Just like when you are