2008 AARP Foundation Annual Report
Money Management
Aging with dignity and independence is everyone’s fervent hope. Yet we all recognize that aging often reduces competencies. Sometimes we just need “a little help from our friends.”
For many older adults, assistance with financial matters can spell the difference between remaining in one’s own home and institutionalization. More than 4,500 caring AARP Foundation Money Management volunteers helped 6,115 low-income seniors pay monthly bills, set budgets and keep track of financial paperwork. In many cases, volunteers also provided training on financial matters to clients’ caregivers.
This AARP Foundation program, established
in 1981, was expanded to three more states in 2008—Washington, West Virginia, and South Carolina—bringing the total to 26 states including the District of Columbia.
Ferne Howard of Salem, Illinois raised seven children while her husband worked at a factory nearby. She was always independent. But after her husband passed away and Ferne underwent two surgeries, the 75-year-old found keeping track of her finances increasingly difficult.
“As you get older, your mind isn’t as sharp,” she said. “I used to try and figure it out myself, but I would add it up and it wouldn’t come out right...So finally, when they told me about Money Management, I said ‘Sign me up!’” Now, on the third of every month, an AARP Foundation Money Management volunteer arrives to help Ferne write checks, balance her checkbook and pay bills.
Ferne credits the program for allowing her to live on her own. “If I didn’t have someone to help me, I’d probably end up in a nursing home,” she said. “I think it’s so wonderful to give seniors help like this so they can stay in their homes.”
