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What is a Daily Money Manager (DMM)?

A DMM is a professional who provides assistance to individuals with their day to day household finances.


If I hire a DMM, do I still need an accountant, lawyer, or social worker?

Yes. A DMM does not take the place of professionals in accounting. law or social service fields. Their work complements that of the professionals and does not replace it.


Why do I need a DMM?

A daily money manager can assist you with whatever area you need help in, whether it is bookkeeping, banking, troubleshooting billing or other issues, computer help, or organizing your paperwork. Generally, they help keep you on top of your financial life ensuring everything is handled in a timely manner. We also help keep the peace in many families, so one family member doesn’t have to take on the burden or answer to the other family members.


Once I hire a DMM, what am I committed to?

Absolutely nothing.  We will work on a specific job  until  it is complete or on a continued basis.  It is your choice.


Will I still have access to all my financial records and banking?

Of course.  You never lose control over your accounts, and actually a DMM can often help you keep your independence longer because with a weekly or bi-monthly visit we can maintain your bills and banking, helping you avoid errors and keep concerned family members happy.


How do you charge for your services?

Generally, services are paid bi-weekly on an hourly basis and depend upon the complexity of the job. There is a minimum of a 3 hour commitment per day.  Other payment arrangements can also be worked out in advance.


Why do I need a DMM if I already use online banking and bill pay from my bank?

Online banking and bill pay is a great service but it does not show you an accurate up to date balance. It also does not replace the eyes and ears of someone monitoring your accounts for fraud, handling disputes, adjusting payment schedules or balancing your account.  A DMM saves you time and hassles.


Can I have my bills sent to you?

Depending on your preference, the services provided are generally done at your home or your place of business so that everything stays with you and under your control, so no need to send bills to me. Place of service is flexible and can be worked out in advance.


Do you offer any additional services?

Yes, depending on the task.  Delivering mail to post office, depositing checks at bank, dropping off taxes at CPA’s office are all very commonly included in the DMM business. Additional tasks outside the scope of work could include buying office supplies, shipping packages, checking mail and house while client is away, and some small computer or cell phone issues all come to mind as things clients have requested in the past. All agreed upon tasks would be listed in the consulting agreement we both sign upon commencement of service.


Do you have a privacy policy?

Yes.  Confidentiality is extremely important to us and we take it very seriously. We will not exchange, distribute, or share any information about a client to any third party, unless the client gives us express authorization to do so. And that includes the sharing of information about a client with their other professional partners – CPAs, attorneys, and financial advisors. Even family members.


Do you have references?

Yes.  We can provide you with a list of clients and even personal or professional references.

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