Center for Healthy Aging (CHA) Daily Money Management (DMM) Program celebrates 17 years of service to adults 55 years of age and older, residing in the community of Santa Monica and the surrounding Westside, who are having difficulty managing their daily financial activities. Statistics show that older adults who are unable to manage their finances are at great risk for impoverishment, exploitation and abuse. The DMM Program is designed to reduce that risk and help people maintain the highest possible level of independence.
It is estimated that more than 10 percent of all seniors could benefit from some form of daily money management and, despite the potential for preventing abuse, daily money management programs like that at CHA are in short supply. Telemarketing fraud, investment fraud, identity theft and predatory lending continue to rise.
CHA’s Daily Money Management Program has come a long way since first opening its doors on May 1, 1990. Today this program serves 55 clients ranging in age from 55 to 94. Clients are often homebound, frail and isolated. The struggle to manage increasing paperwork, failing health and eyesight, and/or changes in social support leave them overwhelmed. The type of help people need with their financial activity varies widely, but the need for some type of help is common as we age. Since getting older is inevitable, programs like CHA’s Daily Money Management are extremely valuable.
Twenty-two trained and supervised volunteers provide direct in-home assistance with such tasks as bill paying, check writing, budgeting, untangling insurance dilemmas and other finance-related issues. For those who require more advanced assistance with financial issues, CHA serves as Representative Payee for income from government programs. The DMM Program is closely monitored by the City of Santa Monica, the Technical Advisory Group of professionals and is annually audited by the Social Security Administration. The DMM Program is also a member of the American Association of Daily Money Managers, aadmm.com.
Center for Healthy Aging Daily Money Management Program is committed to serving the community by providing older adults with the same opportunity, dignity, security and freedoms that are afforded to society.
For more information, contact Program Coordinator Linda J. Berri at 310.576.2550 x234 or go to centerforhealthyaging.org.