Commenting on Daily Money Management services Sean Tyrer from the Money Carer Service noted that according to the American Association Of Daily Money managers (AADMM) there have now more than 400 members operating across the US and Canada. Daily money management services are becoming increasingly popular as a personal care service to assist older people with the management of their financial affairs on a regular basis.

The number of children or other family members that now pay for the services of a daily money management organisation for to help parents or relatives is rocketing it is reported. With an ever aging population the problems associated with poor book keeping when it comes to personal finances are becoming more apparent and personal financial assistants are becoming a highly sought after commodity.

The duties of daily money managers can vary depending on the level of intervention that is required for a particular client. For some people, simple help with bill paying and ensuring that clients are not being over charged for services such as gas and electricty supply is really all that is needed. For other individuals a more involved level of intervention and help be be required. Daily money managers can manage bank accounts, balance cheque books and accounts, pay bills, handle investments and liase with and pay carer worker bills and monitor timesheets on behalf of their clients.

With more and more children moving further afield from their parents the need to provide diligent financial care to parents in later years is becoming increasingly more difficult given the often time consuming nature that everyday money management tasks can demand.