What is a Daily Money Manager?
Submitted by Kathy Green, A Little Help Inc.
A Daily Money Manager (DMM) is a professional who provides a wide range of personal business assistance to individuals who want help managing their day-to-day monetary affairs. Some tasks usually performed by a DMM include organizing and tracking financial and medical insurance papers, paying the bills and maintaining bank accounts.
A Daily Money Manager will also help with organizing tax documents, negotiating with creditors and appealing medical claims. A DMM can save you time and frustration by helping you prepare for a move, or when buying or selling a home.
If you lack time or struggle with bill paying, balancing your checkbook or organizing and maintaining financial and medical records, you are not alone.
Who would benefit from working with a Daily Money Manager?
- Adult children responsible for managing an aging parent
- Adult children responsible for managing an aging parent’s affairs
- Individuals who lack the time or interest for personal paperwork
- Frequent travelers
- Individuals living with a physical condition that may make it difficult to do paperwork
- Organizationally challenged
- Seniors who are challenged with remaining independent
Before you hire a Daily Money Manager
- Ask yourself if you are willing to work with the DMM as you would your attorney, accountant or a family member. It’s a partnership!
- Find out what the fees are
- Ask how long they have been in business.
- Ask for references from both clients and professionals
Your DMM should be respectful, dependable and professional. To find a Daily Money Manager in your area, check out the American Association of Daily Money Managers website.