Who Needs A Therapist if a DMM Might Do?
Mr. M was very anxious. He knew he was disorganized and would often pay bills late. He was anxious that he would miss something important that would have dire consequences. His money worries were causing him a lot of stress, and preventing him from enjoying the retirement he worked so hard to earn.
When his financial advisor suggested that a daily money manager might be helpful, he was skeptical, but willing to try working with Everyday Money Management.
After their third visit he told his money manager, “Three weeks with you has been better than 10 years of therapy!”
Now we don’t want to replace your therapist -- therapists are important professionals in many people’s lives. But if the source of stress and anxiety is your finances, then a DMM might be right for you.
A daily money manager (DMM) is a professional who helps people manage their financial lives by:
paying bills
creating budgets
organizing tax documents
submitting medical claims
monitoring cash flow
tracking income and expenses
A DMM can help a person feel more in control of their finances, which in turn, can give a person the headspace to tackle other tasks and cope with challenges.
DMMs tend to be good listeners and compassionate professionals. In fact, at Everyday Money Management we use the term financial caregivers for ourselves as well as family members who are helping with finances. We talk to many adult children who find managing their parent’s finances is a task fraught with challenges, and it has a tendency to change the relationship dynamics.
Talking about money can feel taboo at the best of times, but becomes especially hard if there are disagreements about the way money should be spent, or the senior is embarrassed by the way they’ve managed their money.
Introducing a DMM as a neutral third-party can help preserve relationships and save everyone a lot of stress.
While we’ll never claim to replace your therapist, we do have a vast amount of experience helping people gain control of their finances and conquer the stress of financial management.
If you would like more information on whether a DMM’s services are right for you, contact us today.