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< Back to Services for Mature Adults
 The
Money Management Program offers assistance in Dallas and
Collin counties to
low-income elderly who have difficulty managing their finances.
They have neither family nor friends willing and able to help, and
are not in need of a legal guardian.
Bill Payer services are provided at no
charge.
Who is eligible to be a client
Prospective
clients are 50+ years, live in Dallas, Collin, Rockwall or Denton counties,
and are referred by area social service agencies and individuals.
We also accept self-referrals. The income limits, effective
January 2007, for eligible older adults are $33,267 for a single
person and $40,112 for a couple. For liquid assets, the limit
for a couple or a single person is $100,000. Contact the Money
Management staff by telephone on 214.823.5700 or email
for more information.
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Why Money Management Volunteers are needed
With our mobile society and growing senior population, we have an increasing need for a service that assists senior citizens with the management of their finances. Older adults living alone are often the target of financial exploitation from such areas as telemarketing schemes and even their family and neighbors. In addition, many older adults are no longer able to manage their affairs due to health reasons.
With their financial experience, Money Management volunteers are able to structure workable budgeting plans that often give seniors a financial freedom they never had before.
Our help also can be on a temporary basis. For example, a senior might need assistance organizing his or her finances following a stroke, but no longer needs the service once he or she has recovered.
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The story of Mrs. J
This is a story of how a Money Management volunteer ultimately helped an older adult get back her stolen money, pay off her mortgage and stay out of a nursing home.
Eighty year old Mrs. J started forgetting to pay her bills. This led to rising finance charges and eventually the discontinuation of her telephone and gas services. Then two acquaintances, posing as friendly helpers, cleaned out her bank account.
Mrs. J called the Money Management Program
for help, and we matched her with one of our
volunteers. Through weekly visits and phone
calls, the volunteer recovered the funds
stolen from Mrs. J's bank account and used
that money to pay her outstanding utility
bills. The volunteer even convinced a
department store to halt finance charges so
Mrs. J could pay off a bill that had grown
from $100 to $300 because of late fees. This
assistance, plus a bit of advice on spending
habits, helped Mrs. J pay off her mortgage
and save some money for overdue home repairs
even though she was living on just $500 a
month.
"I felt pretty good about paying off the house," said Mrs. J, who still signed her own checks and had sole authority over her bank account. Without the Money Management Program, a family member said, the only alternative would have been a nursing home.
Mrs. J was able to stay in her own home
until her death.
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Where Money Management volunteers are needed
Money
Management volunteers assist seniors living in Dallas, Denton,
Rockwall and Collin counties. We have a particular need for
volunteers in Oak Cliff, South Dallas, Grand Prairie, Mesquite and Pleasant Grove.
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Who can be a Money Management volunteer
Individuals over the age of 18 who want to help and have the time and expertise are encouraged to volunteer. Volunteers must have experience working in bookkeeping, accounting, budgeting or math, and a desire to make a difference life of an older adult. Personal references, interviews and criminal background checks are required.
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Volunteer
activities: Bill Payers, Home Visitors & Office Volunteers
Services are provided free of charge by two types of trained volunteers,
Bill Payers, and Home Visitors who have different levels of responsibility.
A volunteer Bill Payer
-
helps sort mail and organize bills
-
balances the checkbook
-
helps set up a monthly budget
-
assists the client with check writing (the client signs all checks)
- notifies
the Volunteer Area Manager if the client needs additional help.
A volunteer Home Visitor
- serves
as a liaison between the client and The Senior Source (the agency
is appointed Corporate Representative Payee)
- visits the client
several times a month and ensures the
client's basic needs are being met
- offers support to
the client and may deliver small amounts
of cash for client's personal needs.
A third type
of Money Management Volunteers are the Office Volunteers
Staff
Support
- enters computer
data using Office 2000 - Word, Access, Excel
- handles general
clerical duties including filing, phone contact, correspondence,
etc.
- handles the
support duties as assigned
Volunteer
Coordinator
- process volunteer
applications,
- check references,
- assist with
training,
- matching
volunteers with clients
- ongoing oversight
of volunteer activities.
- Basic computer
skills needed. Volunteer two days a week at 1215 Skiles Street
Quality
Control Monitor
- Review files,
reports, data entry etc. to ensure compliance with funding source
requirements.
- Work with
staff and other volunteers on compliance issues, workflows.
- Knowledge
of Microsoft Word, Access and Excel required. Volunteer two days
a week at 1215 Skiles Street.
Click
here to find out how to become a Money Management Volunteer.
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Training and benefits that we provide for Money Management volunteers
Money Management volunteers receive four hours of initial training, in-service trainings and ongoing staff support. We also provide oversight by monitoring client bank accounts, visiting with the client and reviewing Money Management volunteers' monthly reports. Limited insurance is furnished for program clients and volunteers. Money Management volunteers who are eligible may get supplemental accident and liability insurance coverage.
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Become a Money Management Volunteer
Click
here for an application that can be downloaded. Please
return the completed application to Guardianship and Money Management
Director, The Senior Source, 1215 Skiles Street, Dallas, Texas 75204.
If you have questions or comments, please contact the Money Management
staff at 214.823.5700 or email.
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Number
of people served in 2007
In 2007,
145 frail elderly individuals were served by 151 Money Management Volunteers
who contributed more than 5,750 hours of service.
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Major funders of this program ($5000+)
- Citigroup Foundation
- Dallas Women's Foundation
- Lawrence Ray
- The Meadows Foundation
- North Central Texas Area Agency
on Aging
- Spirit of Generations Awards Luncheon
- Texas Health and Human Services
Commission
- United Way
of Metropolitan Dallas, Inc.
- Wachovia
Foundation
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For more information
Please contact the Money Management staff at 214.823.5700 or
email.
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