If you have a parent or loved one who is a senior and are concerned about that person’s finances, you might be right in being worried about this issue. There are various statistics on how many seniors need help with their finances, and these numbers can range anywhere from five to 29 percent. It’s hard to say exactly how many seniors really do need help managing finances, but it certainly wouldn’t hurt to find out if your loved one specifically needs any help.

Just because a loved one is living independently doesn’t mean that he or she has everything under control. The older people get, the more help they need in areas of their life they used to have under control.

It will most likely take more than simply asking your loved one if he or she needs help figuring out any financial details. Your loved one might not want to admit the need for help or might not even realize there is a need for it.

One way to test out your loved one’s control of numbers and finances is to have him or her figure out the tip when you go out to eat together. You can also try to take a look at any discrepancies within their bank account.

Seniors are often targeted by scammers because they are viewed as more vulnerable. They also begin to lose their sight as well as their memory, which can lead them to forget about bills or to overspend in general. It can help to have an open dialogue about finances.

Make sure that anytime you discuss the issue of finances you show that you care and that you are trying to help. Don’t be aggressive or condescending because that could make your loved one shut down instead of open up.

Offer up casually some ways to make your loved one’s life easier. Suggest setting up automatic payments and a budget. Perhaps you can suggest this as a way for the two of you to spend time together or as a way for you to learn from them. No one likes to feel helpless, but sometimes our loved ones need our help.

Whether your loved one is living at home or in a senior living community, it will be a huge benefit to them to have you by their side. Help out in any way you can and be there for moral support. Your loved one will really appreciate it.