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Caregiving Chronicles will present news and analysis on caregiving topics in MetroWest and around the world, in-depth Q&As with experts in fields related to caregiving and updates and announcements about caregiving resources available in MetroWest from CaregivingMetroWest.org Program Director Douglas Flynn.


MANAGING YOUR BUDGET IN A POST-PANDEMIC WORLD
By DebraMcDonagh / June 17, 2021

Even before the coronavirus pandemic hit the United States, 1 in 3 older adults had financial worries. The pandemic isolated seniors more than ever before. Those who did have help managing their finances suddenly found themselves forced to "go it alone" and, in some instances, were not up to the task. 

Current Economic pulse of Adults 65 years old or older in the U.S. [Source: National Council on Aging]

  • Over 15 million older adults aged 65+ are economically insecure, with incomes below 200% of the Federal Poverty Level. [Source: Kaiser Family Foundation]
  • Older women are more likely to live in poverty than men as a result of wage discrimination and having to take time out of the workforce for caregiving. [Source: Justice in Aging]
  • Over half of Black and Hispanic seniors aged 65+ have incomes below 200% of the Federal poverty line. [Source: Kaiser Family Foundation]
  • Over 14.8 million, or 4 in 10, older adults are lifted out of poverty by obtaining Social Security benefits. [Source: Center on Budget and Policy Priorities

Experts determined that older Americans living in a single-person household are likely to experience significant declines in their financial well-being during the COVID-19 pandemic. [Source: National Council on Aging.]

If you care for someone who needs help managing their day-to-day budget, BayPath's Money Management Program can help 

Our Money Management program assists people 60 and over and persons with disabilities who have difficulty managing their day-to-day finances. We provide free assistance with bill-paying, budgeting, reading mail, advocating with service providers, and more. With the support of our Money Management volunteers, elders receive the targeted help they need for improved stability and prolonged independence. Certain income and asset guidelines may apply. All volunteers undergo background checks, and are trained and supervised by BayPath staff.

If you think you would benefit from this program, or have an interest in becoming a volunteer, call Sue Burns at BayPath, 508-573-7241.



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BayPath Elder Services, Inc

The BayPath Family Caregiver Support Program and CaregivingMetroWest.org has been made possible by funding from the Older Americans Act as granted by Executive Office of Elder Affairs. Participants may make a voluntary donation toward the cost of this federally funded service. Click here for more information.

CaregivingMetroWest.org was originally made possible, in part, by generous grants from the MetroWest Health Foundation. Additional funding support was graciously donated by Avidia Bank from 2018 – 2021.

Thank you, MetroWest Health Foundation and Avidia Bank, for enabling BayPath Elder Services to provide support and resources to family caregivers.