So I got a SUPER interesting email shot my way by a fellow blog reader this weekend, and now my creative juices are flowing on maximum overdrive :) Especially since y’all know I’m currently looking for the next “big thing” to pour my time into over here and get out of this rut. Maybe I’m just not realistic with the budget but we do also overspend. Only that the wealthy have people like this and probably pay a hefty premium for it too (I believe to their accountants and/or wealth managers/bankers).Here’s what the email said: Hi J Money I didn’t know if you had any resources or information on anyone that would budget and pay my bills for me? I think I would love it though if someone would just pay our bills and then hand us the leftover cash for the week. So like any good researcher, I took it to Google and typed in: “pay my bills for me” to see what I got in return.I would imagine that 95% of us are not in the category and simply need to learn how to better manage our money.Paying someone else to do it is not going to help us learn to be better stewards of what we have…only creates one more hole (bill) to throw money into….probably making our situation worse without learning anything. Unless the person DOES know how to do it all and merely prioritizing their time for bigger better things.In a nutshell, the term for people like these are “A person who takes over the day-to-day financial tasks for those who are unable to perform these tasks on their own.A variety of people employ daily money managers, (DMM’s) ranging from elderly clients to those simply too busy to maintain total control and accuracy of their financial needs.
I imagine part of daily money manager contracts allows the client to request their funds whenever they want which would not help the emailer’s spending problem.Reply Seems to me that with automatic bill pay, this service is not needed for most people.I suppose if you do have a lot of money and a lot going on OR if you are older or not as organized/competent, then you could benefit from something like this.And WOW you’d be amazed at all the people who offer such services!
And who also want you to quite literally PAY their bills for them too – with your own money ;) Haha… But to answer my friend’s question up there on whether or not there are people who do this type of stuff, I hadn’t a clue.