Daily Money Management Assistance Program
The Daily Money Management (DMM) Assistance Program, developed by the Sadin Institute for Law and Public Policy as part of its Reingold Elder Abuse Project, helped agencies provide safe and effective money management services to their aging and/or disabled clients. Original funding for this project was provided in 2003 by the Manhattan Borough President’s Office, which recognized the need for daily money management services among older and disabled adults.
We conducted an analysis of outcomes and costs, published in 2009. The results are striking. Using standard microeconomic costing techniques, the study shows that simply by helping vulnerable adults pay bills on time and manage their monthly income and expenditures, they are more likely to remain at home instead of being placed in a nursing home and are less likely to be the victim of financial exploitation. Moreover, these low-cost services – less than $250 per month for a single individual – are much less expensive than nursing home care, and represent an average savings of $60,000 per person. Brookdale’s cost-benefit analysis has influenced policy and practice nationally.