Money
Management
Iona’s Money Management program was created to address this complex question: How do we support older adults with memory loss in navigating their financial responsibilities while protecting them from scams and exploitation?
Up to half of adults with dementia have no identifiable caregiver, making them vulnerable to financial exploitation and falling behind on financial obligations.
Money Management case managers partner with older adults experiencing memory loss to help them maintain financial stability and prevent financial abuse. These efforts allow older adults to maintain a sense of independence while offering safeguards and supporting decision making that protects their financial resources. In turn, older adults are able to age in place at home, avoid eviction and utility disconnection, and have protection from scammers. Services include:
Monthly Bill Pay Assistance
One of the first signs of cognitive decline is difficulty managing personal finances. We support older adults vulnerable to exploitation by helping them with decision-making around their financial responsibilities. We act as a safeguard by reviewing accounts, addressing neglected bills, and helping them to avoid utility shut offs, possible evictions, and abuse.
Organizational Representative Payee
We provide financial literacy workshops and presentations on critical topics like telephone, Social Security, or holiday scams; as well as online banking and Internet and email safety to ensure individuals can identify and avoid exploitation. Many classes are offered in partnership with Capital One Bank and the DC Department on Aging and Community Living.
Outreach and Education
We provide financial literacy workshops and presentations on critical topics like telephone, Social Security, or holiday scams; as well as online banking and Internet and email safety to ensure individuals can identify and avoid exploitation. Many classes are offered in partnership with Capital One Bank and the DC Department on Aging and Community Living.
Part of what makes money management work so challenging is its intensity. By nature, it is deeply time-consuming and personal. Iona social workers:
- Make regular home visits and review mail
- Organize finances and provide payment reminders
- Accompany clients to the bank or ATM
- Read financial statements line-by-line with expert thoughtfulness
- And more
My Money Management social worker helps me with all my bills and remembering to pay things when I forget.
Learn more about Iona's Money Management program.
Please call our Helpline or send us a message online to learn more about whether this program is right for an older adult in your life.
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Supported by the D.C. Department
of Aging and Community Living