VIEWS: 5 PAGES: 1 CATEGORY: Business POSTED ON: 7/5/2012
Our parents may be old but they still have to manage their finances regularly. We all know our aging parents have been careful with their savings but wouldn’t it be nice to help them out to make it easier for them? Follow up the tips and help your parents in managing their finances.
Ways to Help Aging Parents in Managing Finances Our parents may be old but they still have to manage their finances regularly. We all know our aging parents have been careful with their savings but wouldn’t it be nice to help them out to make it easier for them? Here are some tips to deal with your aging parents finances. Every family is different. We all have different situations, but for most families our parents are our first priority especially if they are starting to go on their second childhood. That is when you have to step in and help them out. Observe your parents and watch out for red flags. If there are now starting to forget things, or if they are starting to neglect themselves then you know something is up. Some parents don’t know how to use the latest gadgets, or open their email and that fact that almost everything is now technology based, it makes checking credit score report or keeping up with your finances difficult for them. Our parents’ feelings can be more sensitive than ever and any wrong move may have them not talking to you anymore. Another thing you can do to help them learn about managing your finances is to give them a book about financial matters. This may avoid hurt feelings, and it won’t be too obvious as well. You have to let them know that you want to help the out because you care for them, and what you want to avoid is getting them to think that you are taking over and making them feel helpless. If they are not into reading, you can download e-books as a substitute for the books. Ask your parents’ permission first before you get copies of important files or if you are planning to set up n account or let’s just say you want to pay the bills. Offer your assistance to them like you are just trying to help so that they won’t feel that you are taking over them. Your parent’s friends matter a well because they are also the people whom they confide too other than you and your family. Having their friends over or even just by calling them may help them feel relaxed. You can ask them to talk to your parents about something if they really won’t budge. Never force them to do something they don’t want. Our aging parents may be quite difficult to deal with but they still deserve all the love, care and respect you can give. Be there to support and help them manage their finances. If you are a college student, then as much as you want to screw up your FAFSA, you sure want to improve your free credit scores. For managing finances affectively always keep a check on your credit history and credit score from the start.
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