Frequently Asked Questions
What is a Daily Money Manager (DMM)?
Daily money managers help people manage their day to day financial affairs. This assistance may include sorting mail, filing papers, preparing checks for signature, checking bills for accuracy and maintaining bank accounts.
What is the difference between a daily money manager and a financial planner?
A financial planner helps people make investment decisions and plan for their financial future. A daily money manager assists with the day to day household finances and paperwork.
The logo means we are members of the AADMM (American Association of Daily Money Managers). This professional association provides continuing education and other resources for daily money managers. To be a member you must abide by their code of ethics. (Out of the INbox abides by the AADMM code of ethics and also by the Colossians 3:23 “code”.)
Why are you called Out of the INbox.
If you’re like many people, your mail goes from the mailbox into an inbox (or into a pile of papers). We specialize in getting everything “out of the inbox” by sorting, filing and dealing with all the papers that come your way. We find that good paper management results in good asset management. You save money by paying your bills on time and you save time by having your information organized.
If I hire you, do I still need an accountant, lawyer, financial adviser or tax preparer?
Yes. Out of the Inbox does NOT take the place of these professionals. We work along with them to ensure that your best interests are served. For example, by organizing and maintaining your financial records, we can easily assemble all the information your tax preparer needs to file an accurate tax return with maximum deductions.
How do you charge for your services?
Our initial consultation is free. Upon agreement to use our services, our fee is $35 per hour. We accept cash or checks payable at time of service. If any services are provided between home visits, charges will be included in the next visit.
How often do you make home visits?
Initially we may have to spend more time dealing with a backlog of paperwork, unpaid bills or months of unbalanced bank accounts. Once the backlog is dealt with and papers are organized, we visit every week or every other week (depending on the amount of paperwork) with a minimum two hour visit.
Are you insured and licensed?
We have liability insurance developed especially for daily money managers from Lloyds of London. Currently there are no license requirements for daily money managers in Pennsylvania.
Is my information kept confidential and secure?
Yes, we maintain strict confidentiality. Your DMM is the only Out of the INbox personnel who has access to your information. No information will be shared with anyone other than those necessary to provide service to you. For example, if contesting a charge, we will talk to that credit card company or that medical provider. We do like to keep the client’s families informed, but we will only do so with your permission. We also take data security seriously. Our files are locked and our computers are password protected.
What are the signs that someone may need the help you provide?
- Frequently fails to pay bills on time
- Pays the same bill more than once
- Loses checks, cash or credit cards
- Never gets around to opening the mail
- Is unable to get paperwork organized
- Repeatedly bounces checks
- Has unexpected charges on credit cards
Will I lose my independence if I hire Out of the INbox?
Absolutely not! On the contrary, our services allow our clients, particularly seniors, to avoid guardianship and to remain independent. Our services alleviate the problems that raised the concern of loved ones.
Do I give up control of my bank accounts?
No, we organize your bills and prepare checks for you to sign. You maintain complete control and signature authority over your accounts.
Do you work in retirement or assisted living communities?
We will work with all alternative living facilities and communities.
What areas do you serve?
We serve Lawrence County and parts of Butler, Beaver, Allegheny and Mercer County. Additional locations are considered on a case by case basis.
Do you charge for your travel time?
We do not charge for going to our client’s home within our normal service area (within 30 miles of Ellwood City). For areas outside of our service area, we charge travel time on a case by case basis.
Do you provide debt consolidation or credit counseling?
No, we do not provide these services. If paying down debt is one of your concerns we can help you set up a budget and advise you on ways to save money.
Does Out of the INbox help if I can’t pay my bills?
No, our services are not meant for someone with serious cash flow problems. Out of the INbox helps those who have a steady income but just need help keeping their household finances up to date and organized. Our services will help you save money by avoiding late fees, charges and scams. We also can look over your expenditures and suggest alternative suppliers to reduce your expenses.
How do I get started with Out of the INbox?
Contact us for a free consultation. We will arrange a time to meet. If you have any additional questions, we can answer them at this time. We look forward to meeting with you and to discover how Out of the INbox can help you out.