Many of Maine’s older adults are living independently and thriving. They have strong networks of friends, are active in their communities and have trusted family members who offer needed assistance.

Unfortunately, this isn’t the reality for all older Mainers and far too many have no one to help them when they need it. When the need involves managing money, this can leave older adults vulnerable and at risk of losing their independence.

Thanks to a generous grant by the John T. Gorman Foundation, Maine’s five Area Agencies on Aging have launched a statewide program called Money Minders which is aimed at helping older adults maintain their independence and peace of mind. The program matches trained, supervised, bonded volunteers with adults 55 and older who need help establishing a monthly budget and ensuring that all bills get paid in a timely and accurate manner.

The program is free for clients who meet low to moderate income and asset guidelines and other eligibility criteria.

“Many older adults need assistance managing their bills and checkbooks for a variety of reasons,” said Jessica Maurer, executive director of the Maine Association of Area Agencies on Aging. “Whether they have trouble physically writing checks, have never had to manage a checkbook or budget or want some protection against the barrage of frauds and scams aimed at them, Money Minders can offer them peace of mind.”

In addition to helping people avoid frauds and scams, volunteers help clients connect to other services they need as they age and offer much needed socialization to those who are isolated.

In 2012, the Department of Justice estimated that 1 in 9 adults over 60 will be a victim of elder abuse and financial exploitation each year. Financial exploitation is the second most common form of elder abuse.

Several safeguards are in place within the program, including no direct access to client funds, background checks and bonding of volunteers and regular audits by other independent volunteers.

Clients and volunteers are being recruited at this time. To participate in the Money Minders Program, call 1-877-353-3771. More information can be found at www.maine4a.org; just click on the cute dog.