BMH Money Management services

Bill Paying

This aspect of Daily M0ney Management involves organizing and paying all your bills by their due date. Depending on the situation, this can be done a variety of ways from setting up automatic withdrawals, issuing checks against your bank account, setting up Power Of Attorney etc. Key activities:

Pay all bills by due date.
Reconcile your bank statements
Provide monthly and year-to-date statement of expenses
Maintain history of all payments made

Organizing Financial Records

This often neglected task can result in very serious financial and emotional hardship in the event of a tragedy in the family. Typically much of this information is kept in a variety of places around the home or office or often, just in people's memories. If you have ever had to figure out the financial records of someone who has passed away, you will know very well what I mean. Key activities:

Create and maintain a filing system for all financial and personal records
Capture all important personal information (financial, insurance, credit cards, investments) and ensure this data is readily available when needed

Statement Reconciliation

Assistance in keeping track of incoming and outgoing cash flow. Key activities:

Balancing of check books
Reconciliation of credit card statements
Follow-up when discrepancies occur

Tracking investments

Monitor and reconcile monthly or quarterly investment statements. Review/explain statements to client highlighting significant changes or activity. Key activities:

Monitor investment portfolio
Provide monthly status
Flag significant changes

Budgeting and Cash Flow

Leveraging extensive experience in managing budgets and cash flow both personally and professionally, BMH Money Management you manage your spending and saving plans. Key activities:

Assist in creating a weekly/monthly budget
Track progress of spending vs. budget
Project future cash-flow needs and provide a plan to meet these needs

Tax preparation assistance

Assistance in organizing and preparing documents for your tax reporting. Key activities:

Ensure all required reporting documents are received
Assist in overall preparation

Household Inventory

Take an inventory of all assets for personal records, insurance and estate purposes. Digital photos will also be taken of important items.

Record all household and other property assets
Create a digital library of assets
Ensure adequate insurance coverage

Computer/Internet training

This training will enable you to be proficient at using the internet particularly for buying and selling online. Use of eBay, online drugstores, Amazon and other buying and selling sites will be covered. Key activities:

Provide training on computer usage, including use of internet and software such as Microsoft Word and Excel
Purchase and install computer where appropriate
Provide training on email usage
Provide training on how to back up your data

Personal Finance Software training

Training on software that helps manage all personal finances is available. This very powerful software can reduce the effort required to maintain financial records and pay bills and improve accuracy. Assistance with loading all personal finance and investment information into the software also provided. Key activities:

Installation and setup of software
Training on the use of Quicken or Microsoft Money
Enable client to operate software independently

Income Optimization

BMH Money Management has created specialized software that helps clients better understand their future income and expense needs and determine their ability to meet those needs. The program takes many factors into consideration including interest rates, inflation, market performance and much more. Key activities:

Analyze client’s income and investments to determine sufficiency for retirement
Optimize income distribution to help achieve greatest return and longest lasting portfolio
Assist in developing efficient income tax strategies