Today my mother (63) paid off her credit card debt. The money came from a $5,000 gift from her brother. She has a credit card with a $9,000 limit and a $4,700 line of credit both with a $0 balance. She's also in the early stages of dementia and retired since December. Her income is $1,000 a month from social security retirement. I have been painfully trying to get her a dementia diagnosis for more than a year now so she would qualify for social security disability as well.
We live in NYC. I now pay 50% of the household bills which is about $900 a month. She makes just enough to pay her half of the household bills, her cell phone bill ($20), and life insurance ($20). I enrolled her in food stamps in February, she receives an electricity bill discount for being on public assistance. She's on Medicaid. I have power of attorney over her. I removed the cable and the landline from our cable bundle plan, and removed collision and comprehensive protection from our car insurance. I can't think of any other areas to get discounts or decreases and we're now in a very stable financial spot but I just want to be prepared. What should I consider next? Should I maybe have her close her line of credit?
Submitted October 21, 2021 at 11:58PM by x3vicky https://ift.tt/3b0aHgZ
