Daily Money Managers (DMMs) provide personal business assistance to clients who have difficulty in managing their personal monetary affairs. Shannon’s services meet a continuum of needs, from organizing and keeping track of financial and medical insurance papers, to assisting with check writing and maintaining bank accounts.

There are many factors which contribute to the need for a DMM. Shannon works with senior citizens, people whose careers make it difficult for them to find time for their own paperwork, and with people whose medical issues simply make it difficult to keep up with their finances, among others.

A DMM does not take the place of professionals in the accounting, investment, or social service fields; rather, Shannon’s work complements and bridges the work of other professionals by facilitating the completion of the day-to-day tasks rather than determining long-term plans.

The expertise of DMMs covers a broad range of tasks, and the actual work Shannon does depends on her client’s needs. The scope of Shannon’s work generally includes the following:
 

• Bill-paying, including calls to payees regarding incorrect bills and preparation of checks for clients to sign.
• Balancing checkbooks and maintaining organization of bank records.
• Preparing and delivering bank deposits.
• Preparing a budget.
• Preparing a cash flow projection.
• Organizing tax documents and other paperwork.
• Negotiating with creditors.
• Deciphering medical insurance papers and verifying proper processing of claims.
• General financial organization assistance.
• Providing referrals to legal, tax, and investment professionals.
• Notary services.
• Assistance with arrangements for moving from one’s home to a retirement or nursing facility.
• Acting as a power-of-attorney or representative payee for Medicare.