BPS Horizontal

The Money Manager

September 2011

Greetings! 
 

Benefit Payee Services, Inc (BPS) is a national daily money management & fiduciary company dedicated to helping individuals and small businesses with their day to day affairs. Our mission is to provide high quality money management services with integrity, professionalism and respect by leveraging our time, talents and resources for the greater good of our community and the lives of those we serve.  

 
The goal of this publication is to educate our community on the latest news and information regarding personal financial management, elder care issues and small business bookkeeping.   

*Please note: the views or opinions expressed in the included news articles are not necessarily those held by BPS, Inc.  We do not personally endorse or guarantee any service providers or agencies that are featured in our publication.

Head Shot 

Thank you to everyone who makes BPS a success. We couldn't do it without your support and friendship.

Courtney L. Smith NCG, PDMM 

President

Our Services

  • Daily Money Management
  • Eldercare Program:
    • Financial Power of Attorney
    • Conservatorship/Guardian of the Estate 
    • Personal Representative/Estate Administration
    • Representative Payee
    • Financial auditing & monitoring
    • Fiduciary consulting for families
  • Financial Coaching
  • Lifestyle Management
  • Small Business Bookkeeping

Check out our website for a complete list of services.

 

 

Testimonials


"Over the past 3 years my financial situation has been turbulent, but you have maintained a calm and steady resolve to do the best possible thing for the "long haul". Even though there has been a severe budget constraint, you have endeavored to provide me with the little extras I've wanted and needed. For these, as well as many other situations where you have been if not more than supportive as possible"- Client 
 

Did You Know?

Courtney Smith, President of BPS, Inc was elected as Treasurer of the Indiana State Guardianship Association as well as the Colorado Guardianship Association. 

Keeping up with BPS:

 

We are excited to announce that we just launched our new website. 

 

Check it out at: www.benefitpayeeservices.com

 
Find us on Facebook
Follow us on Twitter
View our videos on YouTube
 View our profile on LinkedIn 
  

Our Corporate Responsibility Policy

It is our belief that no matter how large or small all businesses have a responsibility to the community in which they operate.  That's why we donate a % of our gross revenue to worthwhile charities and organizations.

 

We hope our actions will encourage others to do their part to leave a positive footprint on the world.
____________________________

This months charitable contributions or sponsorships include: 

 

1.  Karis Community

2.  COVA 

Our services include:

For Individuals:
Bill paying
Budgeting
Banking-deposits
Reconcile bank and credit card statements 
Medical claims management
Inventory assets
Track income and expenses
Organize information for tax preparation
Property management
Coordination of outside services 
Assist with getting out of debt and increasing a person's credit score
Much more....

 

For Small Businesses:

Accounts payable

Accounts receivable

Banking

Review and maintain general ledger account activity for accuracy

QuickBooks set up

Budgeting assistance

Much more...

 

Who We Work With

Seniors and their families 

 

Persons with disabilities

Busy professionals

Small business owners

 

Frequent and business travelers 

Recipients of personal injury settlements 
 
Individuals who are recently divorced or widowed 
 
Persons with poor money management skills 

Busy and affluent families
Individuals going through or seeking bankruptcy

 

Athletes and entertainers

Active duty military

Word of the Month

Representative Payee:

A representative payee is an individual or organization appointed by SSA to receive Social Security and/or SSI benefits for someone who cannot manage or direct someone else to manage his or her money. 

Mention this ad and save $100 off on your first months invoice.  

 

Offer Expires: January 2012

 Call BPS for a free consultation. 
Colorado: 303-282-8882 Indiana: 812-944-4200

Money Saving Tip

Instead of buying things new, get them used or for free on Craig's List.

 

www.craigslist.com
In This Issue
Word of the month: Representative Payee
Money Saving Tip
Pearl Harbor Survivor Recovering from Abuse
Legislative Update
5 Signs that You are Living Beyond Your Means
Basics of Accounting..
Daily Money Management

Eldercare

article

Written bySteve Schmidt 11:34 a.m., June 30, 2011
Updated 2:54 p.m. 

 

Pearl Harbor survivor recovering from abuse

 EL CAJON - His memory flickers, like it might for any 93-year-old. Arnold V. "Max" Bauer can still recall the day he survived the attack on Pearl Harbor. But he can't remember the trauma that unfolded under his own roof a few months ago.

His friends see that as some kind of mercy.

 

"He doesn't have any recollection of what happened to him," said Stuart Hedley, president of San Diego's Pearl Harbor Survivors Association. "And that's good because he doesn't have to dwell on it."

 

Nearly six months after the El Cajon man was discovered living in squalor, a victim of elder abuse, those closest to him say he's doing better - at least physically - and living comfortably in a Chula Vista nursing home.

 

His alleged abuser and former in-home caregiver, 62-year-old Milagros Angeles, appeared in Superior Court in El Cajon Thursday so a judge could decide if she should stand trial.

 

Read Full Article

Public Policy Update

The Government Accountability Office has just released a report on "Incapacitated Adults: Oversight of Federal Fiduciaries and Court appointed Guardians." This report assesses (1) SSA, VA, and state court procedures for screening potential fiduciaries and guardians; (2) SSA, VA, and state court fiduciary and guardian monitoring; (3) information sharing between SSA and VA and between each agency and state courts; and (4) federal support for court oversight of guardians.

 

Summary of Report

Personal Finance

Piggy Bank            

 
 
Five Signs That You're Living Beyond Your Means
by Glenn Curtis
Monday, July 20, 2009

 

Many people in America live beyond their means. Between 1993 and 2008, personal savings rates in the U.S. declined, hitting the lowest levels since the Great Depression in 2006 by falling into negative territory, according to the U.S. Bureau of Economic Analysis. However, by May of 2009, household savings rate had shot back up to 6.9% - the highest level since 1993.

 

If you are concerned that your finances could be in danger, read on for five key indicators to help you determine whether you're living beyond your means.

 

Sign No. 1 - Your Credit Score is Below 600

Sign No. 2 - You are Saving Less Than 5%

Sign No. 3 - Your Credit Card Balances are Rising

Sign No. 4 - More Than 28% of Income Goes to Your House

Sign No. 5 - Your Bills are Spiraling Out of Control

 

Read Full Article

Small Business

Small business Open Sign

Basics of Accounting Are Vital to Survival for Entrepreneurs

By DARREN DAHL      Published: August 3, 2011

Few people start a business because they are good with numbers. In fact, the terms "accounting" and "financial analysis" tend to put business owners to sleep or send them screaming from the room. But to run a business effectively, most owners need to have some understanding of their finances.

 

It is, for example, entirely possible for a company to be profitable but fail anyway because it does not have enough cash coming in to pay its bills.

"It's like a racecar that goes too fast and runs out of gas," said Doug Tatum, a serial entrepreneur who is a visiting professor of entrepreneurship at Middle Tennessee State University in Murfreesboro. Business owners do not necessarily need to know how to prepare a balance sheet, but they do have to know which gauges to watch.

 

One obvious step is to work with a bookkeeper or accountant, someone who can help navigate arcane accounting and tax rules and organize your affairs. But owners should understand that accounting is not just about paying taxes or reporting results.

 

Read Full Article

Daily Money Management

 Elderly man  

Daily money management services keep seniors independent 

 

Think of all the day-to-day tasks that involve our money from paying the bills and balancing the checkbook to giving to charity, filing insurance claims, managing investment income, and more. It's too much for many seniors, especially when you factor in memory issues, arthritis, failing eyesight and hearing. 

If you or a relative is having trouble paying bills and managing life's paperwork, hiring a daily money manager or a bill paying service might help maintain independence -- and protect nest eggs too.

Get help

 

Daily money managers are part of an emerging profession, says Mindy Luebke, the Chicago president of the American Association of Daily Money Managers. Money managers are not exclusively for seniors. Wealthy individuals have used them for generations. But over the past 10 years some have tailored their services to helping seniors at home with money management and the associated paperwork and mail.

Read Full Article