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Money Management Programs

Sudbury “skyline”
Familiar landmarks, including the Town Hall (far right) dominate the Sudbury “skyline”/Photo by Douglas Flynn

The Massachusetts Money Management Program was started in 1991 to help low-income older or disabled people who have difficulty budgeting, paying routine bills and keeping track of financial matters.

In 1994, funds from the Older Americans’ Act were used to provide statewide coordination of the program. There is now a network of 25 local programs covering the entire state.

Money Management Programs in MetroWest:

Each of the four ASAPs serving communities in MetroWest offers a Money Management Program. The Money Management Program is collaboratively sponsored by the Executive Office of Elder Affairs, Mass Home Care and AARP Massachusetts.

BayPath Elder Services, Inc.
33 Boston Post Road West
Marlborough, MA 01752
508-573-7200
MetroWest communities served: Ashland, Dover, Framingham, Holliston, Hopkinton, Hudson, Marlborough, Natick, Northborough, Sherborn, Southborough, Sudbury, Wayland, Westborough

Through BayPath Elder Services, Inc.’s Money Management Program clients benefit from free assistance with bill-paying, budgeting, reading mail, advocating with service providers. With the support of BayPath’s Money Management volunteers, elders receive the targeted help they need for improved stability and prolonged independence.

The mission of the Money Management Program is to promote and prolong independent living for low-income elders by assisting them with their routine financial needs. This is achieved through the dedicated support of screened and trained Money Management volunteers.

The Money Management Program is available free of charge to adults age 60 and older or disabled individuals that meet certain income guidelines. Clients in the program are often physically impaired, homebound, forgetful or anxious about their finances, and may not have family or friends who can lend a hand.

Service is tailored to the specific needs of the client and may include: help with check writing, budgeting, balancing the check register, reading and sorting mail, and organizing financial paperwork. The elder maintains full control over his/her money and retains check-signing capacity at all times.

Under current guidelines, income limits are:
$46,000 per year for a single person ($3,833.33/month)
$52,550 per year for a two-person household ($4,379.17/month)
Asset guidelines also apply.

BayPath screens, trains, supervises, and provides ongoing support for all Money Management volunteers. Volunteers generally visit with clients 6-8 hours per month, depending upon the needs of the client. A minimum one-year commitment to the program is requested.

If you or a loved one needs assistance with routine finances or if you are interested in volunteering, please call 508-573-7200 and ask to speak with someone in the Money Management Program.

HESSCO Elder Services
One Merchant Street
Sharon, MA 02067
781-784-4944
MetroWest communities served: Medfield, Millis, Norfolk

HESSCO Elder Services Money Management Program recruits, trains and supervises volunteers to serve as bill payers and representative payees, matching them carefully with clients in need. Most of these clients have difficulty paying their bills due to poor eyesight or paralysis, feel overwhelmed by the process, or were dependent on a spouse or relative who has passed away.

The service is free to seniors 60 years of age and older with income limits of $46,000 (single) or $52,550 (couple), who do not possess liquid assets in excess of $44,950.

Each volunteer in the Money Management Program undergoes intensive training and is monitored and supervised. All client accounts are professionally managed and monitored.

Among the services offered:

  • Bill Payer volunteers help prepare a monthly budget; help the client balance his or her checkbook and reconcile bank statements; assist the client with organizing and then paying bills; and help write checks for the client’s signature.
  • Representative Payee volunteers are appointed by the Social Security Administration, assume legal authority to write and sign checks on behalf of the client, prepare a monthly budget for the client, balance the client’s checkbook, and are able to cash a check and provide client with spending money.
  • Volunteer Monitors are also volunteers; they monitor clients’ bank statements and cancelled checks on a quarterly basis to ensure that all financial matters are being handled accurately.

Springwell
307 Waverley Oaks Road
Suite 205
Waltham, MA 02452
617-926-4100
MetroWest communities served: Needham, Wellesley

Springwell’s Money Management Program is a financial services program that assists individuals who have difficulty managing their personal household budgets, paying bills, keeping track of banking records, intervening with creditors and handling other issues related to personal finances.

The Money Management Program offers two levels of financial assistance:

  • Bill Payer Service, in which a trained volunteer assists an older adult or individual with a disability by writing checks, balancing a checkbook, sorting bills, developing a budget, monitoring income and expenses, or developing a repayment plan. The elder makes all the decisions and retains check-signing capacity.
  • Representative payee services, in which volunteers are appointed by the Social Security Administration with the consent of a physician, for individuals who are deemed incapable of managing their own government checks. These volunteers have legal authority to sign checks on behalf of the client.

The Money Management Program at Springwell is available to older or disabled individuals with an income of less than $46,000 per individual or $52,550 per couple and whose liquid assets are equal or less than their annual income levels.

All Money Management volunteers are trained, insured, and supervised. For information about these services or to become a volunteer, call the Money Management Program Coordinator at (617) 926-4100.

Tri-Valley, Inc.
10 Mill St.
Dudley, MA 01571
1-800-286-6640
MetroWest communities served: Bellingham, Franklin, Hopedale, Medway, Mendon, Milford

Tri-Valley, Inc.’s Money Management Program, is a free service that assists low income elders who are at risk of losing their independence due to an inability to manage their own finances.

Trained, insured and supervised volunteers are matched with older adults who need help with bill paying and other routine financial tasks such as balancing the checking account, setting up a budget, writing checks and sorting mail.

Eligibility:

  • Age 60 years and older
  • At risk, due to unpaid bills
  • Homebound, visually impaired, disabled or confused
  • Within program income and asset guidelines

How To Know If Someone Needs Assistance:

  • Does the person know how many bank accounts he or she has and where they are?
  • Are unpaid bills scattered around the elder’s home?
  • Have any utilities been shut off in the last 12 months?
  • Is the person newly widowed or recently discharged from hospital or nursing home?
  • Does the person have limited mobility that makes banking difficult?
  • Does the person complain about not having enough to make ends meet?

Fee for Service Money Managers

For seniors or caregivers assisting seniors who do not meet the income qualifications for the free money management programs offered by their local ASAP but are in need of help organizing their finances, paid money management services are an option. Consult your local ASAP's information and referral department for some of the options available in your area.

Still haven’t found what you are looking for?

Check out the other categories in our Local Resources section or search by town on our clickable map featuring 25 communities in MetroWest.

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BayPath Elder Services, Inc

Caregiving MetroWest is a no-cost program of BayPath Elder Services, Inc.

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Caregiving MetroWest was made possible in part by grants from the MetroWest Health Foundation.