Here are 5 Frequently Asked Questions (FAQ) about Mary's Daughter and Daily Money Management

Published on:
Mon, 13 Jun 2016
By:
Barbara

In celebration of the 5th year anniversary of Mary's Daughter on August 1st, I'd like to share 5 questions that people have most often asked me.  I hope this provides some answers for those of you who are unfamiliar with Daily Money Management services and helps to clarify how I work with clients.

So let's get started...

What exactly is a Daily Money manager and what do you do?


Daily money managers (DMMs) are professionals who provide a wide range of personal financial assistance to their clients to help them manage their day to day financial affairs.
DMMs often negotiate with creditors on behalf of their clients to reduce excessive payments such as telephone or cable bills and review all medical insurance paperwork to make sure everything is accurate.

How much do you charge and how do you get paid? 


I started out by charging per hour and saw clients an average of 2-4 times per month. I may be moving to a monthly rate in the near future as clients seem to prefer having a set amount each month. Clients pay an average of $170-$300 each month depending on how often I meet with them. Most of my clients pay at the time of service but I also offer a monthly payment plan if desired.

Will you keep my information confidential?  


All client information is kept confidential. As a Daily Money manager with I also request permission to speak with the client's or another family member designated as next of kin if the client becomes ill or unable to handle their own affairs. This is clearly stated in my initial contract with each client which outlines the services I will provide.

Who benefits from working with a Daily Money Manager?


Daily Money managers work with a wide variety of clients. These include high net worth individuals as well as lower income families, busy professionals, frequent travelers, seniors, adult children responsible for managing their parent's affairs, individuals who lack the time or skills for personal paperwork, individuals with physical and/or cognitive challenges, divorced and/or widowed individuals, young couples and small business owners.

How far are you willing to travel to meet with clients?

Most of my clients are in the Dane county area on the west side of Madison, WI. I have a network of DMMs who work in other areas, so I usually refer to them if I receive a call from a prospective client who lives further than a 10-15 mile radius of my office.