As the hustle of the holiday season is upon us, many of us will work to get our personal finances in order. We’ll have gift-giving lists to generate, bills to pay, and personal budgets for the spirit of giving to create. And then attempt to stay on budget. If we’re fortunate, we’ll handle this without too much trouble. However, many older adults may struggle to manage such tasks on their own and Mystic Valley Elder Services’ Money Management Program can help these individuals manage their money.
The Money Management Program pairs trained, insured, and screened volunteers with older adults who need assistance with routine money management tasks like establishing a budget, writing checks, balancing checkbooks, interpreting bank statements, and sorting mail. The program is available to low-income adults age 60 or over or individuals with disabilities who are in danger of losing their independence due to an inability to manage their financial matters.
The Money Management Program is a state-wide program operated locally through Mystic Valley Elder Services (MVES) and is funded in part by the Executive Office of Elder Affairs and private sponsorships and donations. The program, which has been operating at MVES since 1991, serves the communities of Chelsea, Everett, Malden, Medford, Melrose, North Reading, Reading, Revere, Stoneham, Wakefield and Winthrop.
Participation in MVES’ Money Management Program has grown significantly over the years. Currently, MVES’ program serves more than 122 individuals with the help of 77 volunteers. Many of the volunteers have careers in banking or finance. Others are retired business professionals. Several of the newest volunteers are recent college graduates.
MVES’ Money Management Program strives to create a one-to-one match of volunteers and the individuals. They are referred to the program by MVES care managers.
To meet the growing needs of area seniors, MVES continues to recruit Money Management volunteers. Volunteers are asked to visit the home of the older adult they are helping twice a month to assist with basic money management. Visits normally last an hour or two max. New volunteers will undergo training and all will receive ongoing support from MVES’ Money Management Director.
For more information about MVES’ Money Management Program or if you are interested in volunteering with the program, please call 781-324-7705.