Fearless Finance
Dear Caregivers,
For many people, mid-April’s “tax time” arrives with anxiety and confusion — and that can lead to increased levels of stress. According to the American Psychological Association, concerns about money issues consistently rank among the top stressors in their annual “Stress in America” report. As a family caregiver you aren't immune from this type of stress, or taxes.
The key to overcoming the stress of dealing with finances, like so many challenges, is educating yourself on what’s involved. Put that stress to work! The more you know, the more secure you feel that you are in control, and that can lower your stress levels a lot. In some cases, stress can actually help you prepare for challenging times. But when there is too much stress, your body can respond with loss of sleep, weight gain, and chronic diseases such as high blood pressure.
Here some guidance on how to manage finances in your caregiving journey:
Difficult Conversations: Financial Affairs:
Even in the most loving of families, money is often a taboo subject of conversation, especially between parents and their adult children. The APA found that only 52% of adults are comfortable talking with others about money and finances, and more than two in five adults said they feel embarrassed talking about their financial situation with others. Unfortunately, when Alzheimer’s disease is progressing there are many ways financial affairs can become problematic. Here are some strategies for beginning that important but often difficult conversation.
Paying for Care for Elderly Loved Ones:
Here’s an overview of the basic categories of care most often needed by elders and payment options available, including what Social Security and Medicare covers for elderly care — and what it doesn’t cover.
Protecting Yourself and Your Loved Ones Against Fraud and Scams:
It’s a sad reality that we all must be on guard every day to protect ourselves from fraud and scams. Frauds and scams come in a wide variety of flavors and trends, and can be very creative in how they draw us in. In most cases these scams prey on our fears and try to prompt us to pay out of fear. Here’s how to protect yourself.
Remember, if you can’t find the information you need on our website, you can always “Ask NAN” by clicking on this link.
Best,
Rosemary D Laird, MD, MHSA
Founder and Chief Medical Officer
“The hardest thing in the world to understand is the income tax.”
— Albert Einstein
