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Real members of myALZteam have posted questions and answers that support our community guidelines, and should not be taken as medical advice. Looking for the latest medically reviewed content by doctors and experts? Visit our resource section.
A myALZteam Member asked a question 💭
Pillager, MN

Handling money
My mother has an issue with money. She cannot balance her checkbook and is continually mad at me. She wants to be in charge of her own funds, but can't handle it without overdrafting. We're going to try cash only as "an allowance" and see if that works.

September 2, 2016
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Answer Summary

Members deeply understood the challenge of managing finances for loved ones with dementia who struggle to handle money independently yet... Read more

Members deeply understood the challenge of managing finances for loved ones with dementia who struggle to handle money independently yet resist help. Several members shared creative solutions including setting up separate accounts for allowances, giving small amounts of cash at a time, letting the person write checks that are never mailed, and using phrases like 'taking away the burden' to ease the transition to financial support. A recurring theme was the emotional toll of becoming the 'bad guy,' the guilt of limiting their independence, and the importance of establishing power of attorney sooner rather than later to protect both the person with dementia and the family's financial security.

A myALZteam Member

This is one of the roughest parts of the disease.you feel so guilty limiting their funds but what they buy makes no sense at all. My mother ran through her funds over several years but still has a good income. However three shopping trips and she is broke. Family gets mad because I refuse to take her shopping but after having to use our money on junk I have no choice but to say it is just to difficult to take her!

November 21, 2016
A myALZteam Member

I don't know if this would work for you but here is what I did. Mom was insistent that she could still pay her own bills (which she definitely could not). I deactivated her account but I let her write the checks whenever she wanted to (but I actually paid the bills). I told her I would take them to the post office for her and that there had been a problem with her mail not being picked up! Eventually she started to forget that she had bills to pay.

December 4, 2016
A myALZteam Member

We had the same issue. We did the cash thing. If I put $20 at a time in her purse she spends it all and needs more. It helps to keep receipts but that's hard to get her to do she lost them. I ended up with 2 checking accounts. Hers and 1 to pay bills and keep her money. I would watch hers and transfer $ as I saw was needed. I would have to stop her when she'd spent her limit.

September 5, 2016
A myALZteam Member

I completely understand where you are at. Money is one of the biggest stresses as I care for my mother. She is fixated on buying and shopping daily. She forgets that we were at the store yesterday and feels she can never spend her money. I have been POA for a while so I left her spend most of her money but now I slip in the necessities and let her think she bought them. She lives with us so I sneak out of the house and use excuses that someone broke down or needs a ride. She gets agitated but they clearly do not have any concept that money runs out. Sending hugs and patience!

October 14, 2016
A myALZteam Member

My Mom had gotten into a scam by phone and i had to step in. After acct # changed I discovered years of handing over monies to several family members and friends.

September 20, 2016