Many caregivers are torn when it comes to financial management for their loved ones as they grow older. They do not want to take away their control, but worry with good reason that their family member will be taken advantage of, that they may make poor choices, overspend, or even with pressure give donations to too many organizations. No one wants to take away independence or have financial jeopardy! There is a reasonable answer to this problem that can allow caregivers to monitor and set guidelines for purchases while giving loved ones autonomy in this area.
True Link is a company that makes debit cards that you can provide your family member with for use. You, your support staff (Trustee, GCM, etc) or a family member can set up a "personalized fraud blocker", which then allows for specific controls for the card. The card can be set up to have spending limits or to only work where you decide to allow purchases, (for example, only at the grocery store, hair salon, specific clothing stores that they shop at regularly, and the pharmacy). It’s a fast, safe way to enable essential purchases to be made by your loved one that will likely save you time, worry, disappointment, financial loss, and allow them to feel a sense of independence and control which they will love.
Below are some links that can be accessed to learn more: