Organizing household bills is crucial and necessary when caring for a senior. And more often than not, bills can be complicated and filled with errors. Not to mention the fact that sometimes expenses may exceed the older adult’s budget.
So if this sounds familiar to you, then we suggest that you keep reading as we are going to break down household bill management into 5 easy steps. And we hope that this list can provide guidance that will make this task easier.
1. Understand the Bill First
It’s easy to get confused when you don’t know what type of bill you are dealing with. So we suggest that you figure that out first and then try to go through the details in order to understand what the individual needs to pay.
For instance, the insurance company of the senior might send an explanation of benefits stating the reason why the individual has to pay a certain amount, or it might be a credit card bill, electric bill, etc.
2. Verify the Charges
As we mentioned earlier, you need to go through the details very carefully as household bills may have errors. So take time to read and understand the items stipulated in the bill and review it carefully before you pay.
3. Make Sure the Household Bills Are Properly Adjusted
Part of supervising household bill management is identifying ways in which an individual’s funds are spent improperly. So look for areas in the bill where adjustments can be made. If it’s a bill for insurance, then check for items that coincide with the contracted insurance payments for the senior. You can do the same for all other bills.
If any of the bills do not reflect previous payments or discounts, then it can be a sign that the bill contains additional errors.
4. Call the Bill Provider To Resolve Issues
If you notice any red flags on the bill, then call the provider immediately and inform them about it. Be sure to make a record of the name of the person you talked to as well as the date and the time of your conversation. Then inform the provider about the inconsistencies you have noticed, hopefully they will remedy your issues.
5. Negotiate and Ask for Payment Plans
And lastly, supervising household bill management may require you to negotiate on behalf of an older individual because there may be instances when the bill is be correct, but the charge exceeds the individual’s current budget. This is where your negotiation skills will be useful as you may be able to arrange for a payment schedule that it is acceptable to both parties.
In addition, you can also inquire as to the option of an interest-free payment plan so that the individual won’t feel the burden of increasing his or her overall payments.