Helping someone else manage their money

There are a variety of ways that you may need to help the person you care for with managing their money.

You could be asked to help them keep on top of bills and paperwork or withdraw cash from the bank, or you may need to take on the responsibility of managing their finances for them. 

Make sure you know where their money is and what filing systems they use, as well as how and when they pay their bills.

Keep records of all money you receive or spend on behalf of the person you are caring for. You may want to talk to other family members, to ensure everyone understands the responsibilities you are taking on. This will help to avoid any misunderstandings.

Managing someone else's financial affairs

If you and the person you are caring for believe you may need to help them manage their money or day-to-day banking either now or  in the future, find out more about managing someone else's affairs.

Banking options if you care for someone

There are lots of ways to make banking easier for you and the person you care for. You may want to set up:

  • Direct Debits so regular bills are paid on time.
  • Telephone banking.
  • Online and mobile banking.
  • Standing orders - the person you care for could set up a regular payment for a fixed amount into your account so you can withdraw money and pay bills for them (keep a record of what you spend on their behalf).
  • Duplicate statements so you can check transactions and discuss it with the person you care for (the person you care for will need to request these).

For more information about the different banking options available talk to your bank. 

Dosh (financial advocacy) support carers who are involved in managing money for a relative with a learning disability. It has a range of factsheets for carers.

The Vulnerability Registration Service

This is a platform providing vulnerable consumers with a single reference point for recording their personal circumstances when they are looking to protect themselves against further debt or related financial problems. 

Find out more and how to register