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What do Daily Money Managers do - Vera Kurlantzick
Mindful Money Management
Vera Kurlantzick, MS, CDMM®
Email: [email protected]
Phone: (301) 367-2859
Website: https://mindfulforyou.com/
When I first learned about Daily Money Managers I thought only rich people worked with them. This isn't true. I invited Vera Kurlantzick to explain what Daily Money Managers do. I believe they can help families w/ disabilities.
Daily Money Managers do much more than help people pay bills. Vera's examples include sorting mail and managing transitions. It can be when you get divorced or moves out on your own. Not all Financial Advisors help their clients budget. And not everyone can afford to work with a Financial Advisor.
Working with a Daily Money Manager to get your bill pay set up can be the first step to living independently. If there are concerns about continued payments or false charges, the Daily Money Manager can check in monthly. They can work with Guardians and/or Trustees.
In the video, we talk about a sibling being a Trustee and the Daily Money Manager helping the person with the disability manage their daily expenses. The Daily Money Manager would do this by helping them use their ABLE account.
Another example is hiring a Daily Money Manager to help you gather all the documents you need to file for SSI or SSDI. This can be a complicated, and frustrating, process. The Daily Money Manager can help you sort and organize your paperwork before you submit it. They can make sure you have copies of everything. Some may be able to help you complete the application.
I've come to think of Daily Money Managers as specialized personal assistants. We can all use help in our day-to-day lives. Daily Money Managers are NOT Financial Advisors. They have very different roles.
They can help you create and stick to a spending plan. Daily Money Managers are also NOT attorneys. They can help you organize your paperwork. They will not give you legal advice.
Thinking about hiring a Daily Money Manager? Do your homework. Do you know someone who has used one? Ask them what it was like. You need to be able to trust this person. Ask how they work. Do they do things FOR you or WITH you? This is an important distinction.
There is a certification available from the American Association of Daily Money Managers (AADMM). Even if not certified, you'll want a Daily Money Manager who is a member. Membership requires a background check, so you'll know at least they've been vetted. The AADMM website also has a tool to search for Daily Money Managers in your area. You can find it here: https://secure.aadmm.com/find-a-dmm/
As an Amazon Associate, I earn commissions from qualifying purchases.
For more information about True North Disability Planning you can find us here:
Web: https://truenorthdisabilityplanning.com/
Blog - https://ejorgensenwordpresscom.wordpress.com
Podcast (ABC's of Disability Planning) - https://anchor.fm/abcs-disability-planning
Waypoints - https://waypoints.substack.com/
Facebook: @TrueNorthDisabilityPlanning
Twitter: @NeedsNavigator
Resource store (free downloads too) - https://www.teacherspayteachers.com/Store/True-North-Disability-Planning
---
Send in a voice message: https://podcasters.spotify.com/pod/show/abcs-disability-planning/message
Support this podcast: https://podcasters.spotify.com/pod/show/abcs-disability-planning/support
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Mindful Money Management
Vera Kurlantzick, MS, CDMM®
Email: [email protected]
Phone: (301) 367-2859
Website: https://mindfulforyou.com/
When I first learned about Daily Money Managers I thought only rich people worked with them. This isn't true. I invited Vera Kurlantzick to explain what Daily Money Managers do. I believe they can help families w/ disabilities.
Daily Money Managers do much more than help people pay bills. Vera's examples include sorting mail and managing transitions. It can be when you get divorced or moves out on your own. Not all Financial Advisors help their clients budget. And not everyone can afford to work with a Financial Advisor.
Working with a Daily Money Manager to get your bill pay set up can be the first step to living independently. If there are concerns about continued payments or false charges, the Daily Money Manager can check in monthly. They can work with Guardians and/or Trustees.
In the video, we talk about a sibling being a Trustee and the Daily Money Manager helping the person with the disability manage their daily expenses. The Daily Money Manager would do this by helping them use their ABLE account.
Another example is hiring a Daily Money Manager to help you gather all the documents you need to file for SSI or SSDI. This can be a complicated, and frustrating, process. The Daily Money Manager can help you sort and organize your paperwork before you submit it. They can make sure you have copies of everything. Some may be able to help you complete the application.
I've come to think of Daily Money Managers as specialized personal assistants. We can all use help in our day-to-day lives. Daily Money Managers are NOT Financial Advisors. They have very different roles.
They can help you create and stick to a spending plan. Daily Money Managers are also NOT attorneys. They can help you organize your paperwork. They will not give you legal advice.
Thinking about hiring a Daily Money Manager? Do your homework. Do you know someone who has used one? Ask them what it was like. You need to be able to trust this person. Ask how they work. Do they do things FOR you or WITH you? This is an important distinction.
There is a certification available from the American Association of Daily Money Managers (AADMM). Even if not certified, you'll want a Daily Money Manager who is a member. Membership requires a background check, so you'll know at least they've been vetted. The AADMM website also has a tool to search for Daily Money Managers in your area. You can find it here: https://secure.aadmm.com/find-a-dmm/
As an Amazon Associate, I earn commissions from qualifying purchases.
For more information about True North Disability Planning you can find us here:
Web: https://truenorthdisabilityplanning.com/
Blog - https://ejorgensenwordpresscom.wordpress.com
Podcast (ABC's of Disability Planning) - https://anchor.fm/abcs-disability-planning
Waypoints - https://waypoints.substack.com/
Facebook: @TrueNorthDisabilityPlanning
Twitter: @NeedsNavigator
Resource store (free downloads too) - https://www.teacherspayteachers.com/Store/True-North-Disability-Planning
---
Send in a voice message: https://podcasters.spotify.com/pod/show/abcs-disability-planning/message
Support this podcast: https://podcasters.spotify.com/pod/show/abcs-disability-planning/support
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