Money and financial issues
Advice and tips for people with dementia who live alone on managing money and financial issues.
Managing money can become more difficult when you have dementia. If you live alone, there may be some extra things for you to think about.
It may be harder for you to get to the bank, for example. You might also need to think of ways to remember to pay bills or get to the post office.
You might also be more vulnerable to scams and tricks if you live alone, so it’s important to know the dangers and make sure you keep yourself protected.
Tips for managing money and financial issues
- You could work out how much money you need each week and put a routine in place to withdraw it on the same day. You could put different amounts in individual envelopes for different things – for example, money for shopping in one, money for the newspaper in another.
- Set up direct debits for your regular bills such as gas, electricity and council tax. This means you won’t need to remember to pay a bill each time.
- Think about online or phone banking if you find it hard to get to your local branch.
- Be aware of scams and cold callers. Never give your bank details to anyone.
- Stop unwanted junk mail and telephone calls by registering with the Mail Preference Service and Telephone Preference Service (see ‘Other resources’).
- You could put a ‘no cold callers’ sign on your front door. You may be able to get one from your local authority.
- If you are unsure about someone (such as a workman or salesman) ask for their identification. If you still feel unsure ask them to come back when you have someone with you. You can also ring the company to check who they are and if they are meant to be in your area that day.
For more information see Managing your money.