Teaching an Old Dog New Tricks
So I took it upon myself to start tracking my dads bank account. I’ve inputted all of his transactions into Microsoft Money, and check it weekly to update it with what transactions he’s done. I’ll probably do this for a month or two and then print out some reports of his expenditures to give him a look at his spending habits.
That’s what really woke me up, seeing where exactly my money was going. When you have a list of needless expenses that have added up $300 or $500 over the last 4 months, you start to realize that maybe those types of things aren’t needed. I’m hoping it has the same affect on my father.
I also noticed that he spends $500/month on healthcare. How ridiculous is that? There’s gotta be something I can do about that.
If I can get him to give me a solid list of all of his debts, so we can keep track of how much he owes exactly, then we could figure out a better way to pay all of them off. I figure if I have a system in place now, when he’s unable to really keep track of his finances as he gets older, I’ll be in a good position to take care of it for him.
I think if we just got all of his hospital bills paid off, he’d be in better shape financially.
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