Money Management Program

Money Management, an American Association of Retired People (AARP) originated volunteer program, was created to assist adults 55 and above or disabled adults for whom monthly bill payment is a struggle. Either group must show limited income.

Volunteers may also provide help in other regular accounting tasks such as managing income and expenses and balancing the checkbook. Certain specific safeguards within the Money Management program have been put in place to protect client finances. These include:

• Training and monitoring all volunteer financial assistants
• Paying bills from a designated checking account with a maximum balance of $3500
• Reviewing canceled checks and bank statements semi-annually
• Maintaining a policy of confidentiality
• Providing liability insurance coverage in the event of mismanagement of funds

The benefits of the New Opportunities Money Management program extend well beyond those who receive help with managing their finances and the Volunteers who find satisfaction by supporting them. Assistance with managing their money often makes it possible for participants to continue living independently in their own communities. Plus others are positively affected:

• Family members find peace of mind knowing that their loved one’s finances are being monitored by trained and trustworthy Volunteers
• Providers of goods and services are paid on a timely basis
• Financial institutions are able to avoid the problems that arise when clients mismanage their accounts

Money Management was created for older or disabled adults who have a limited income. The current income limits are as follows:

Money Management was initiated by AARP in 1981 and first established in Connecticut in 1995 through Connecticut Community Care Inc. New Opportunities currently operates Money Management in numerous cities and towns in the state and plans to include all of Connecticut in the future.

Those who meet the qualifications and need help with their finances, wish to refer someone who does or who wish to volunteer should call (203) 575-4220 or email Volunteer [at] NewOpportunitiesInc [dot] org.

.