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Help a parent, relative or friend to manage their money with confidence.
How can I help an older parent with money?
Many older Australians manage their money well. But there may come a time when they need some help.
You might notice they're finding everyday money tasks harder. Or they may ask for help after a change in their health, finances or living arrangements.
The best place to start is often a conversation. Small steps can help them stay independent and avoid problems later on.
The support they need will depend on their situation.
Start a conversation about money
Money can be a sensitive topic. Some people worry that accepting help means losing their independence.
Talking early can make future decisions easier.
Try to make it clear you’re offering support, not taking control.
You could:
- Keep it relevant – ask only for information that helps you understand how to support them.
- Encourage open discussion – ask about their plans, concerns and goals for the future. For example, they may be thinking about aged care, healthcare costs or managing everyday expenses.
- Share your concerns – explain why you're raising the topic and what prompted the conversation.
- Start small - you don't have to discuss everything at once. One conversation can lead to another.
- Respect their choices - many people want support while continuing to make their own financial decisions.
What are the signs someone might need financial help?
Not everyone will ask for help. But there are signs that someone may need extra support.
Look out for:
- unpaid bills or unopened mail
- missed appointments or cancelled services
- confusion about money matters
- trouble using online banking or making payments
- difficulty reading, hearing or completing paperwork
- memory changes that affect everyday tasks
- unusual withdrawals or transactions they cannot explain.
One sign alone many not mean there's a problem. But several signs together may be a reason to check in.
What kind of financial help might they need?
The help someone needs can change over time. Some people only need help now and then. Others may need more regular support.
Support might include:
- Managing bills and expenses - helping keep track of payments, budgets and regular household costs.
- Organising important documents - including financial records, wills and powers of attorney.
- Understanding government support - such as Age Pension or concession cards and other benefits.
- Managing healthcare and aged care costs - understanding services, costs and support is available.
Nicola notices unpaid bills
Nicola’s father Anthony is in his 80s and has always managed his own finances.
Recently, she noticed unopened mail piling up and found several overdue utility notices. When she gently asked about it, Anthony said he was finding it harder to keep track of payment dates.
Together, they set up direct debits for essential bills. Anthony stayed in control of his money and no longer had to worry about missing payments.
How can I protect someone from scams and financial abuse?
Older Australians are often targeted by scammers. They may also experience financial abuse from someone they know and trust.
Learning about scams and financial abuse can help keep someone you care about safe.
- Talk about scams regularly – conversations can make it easier to recognise warning signs.
- Encourage them to pause before acting – scammers often create pressure and urgency.
- Review unexpected messages together – another person may spot warning signs.
- Protect personal information – help them keep passwords, banking details and devices secure.
- Watch for unusual transactions – checking accounts regularly can help spot problems early.
Financial abuse can happen when someone pressures another person to give them money, takes control of their money or uses it without permission. Learning the signs of financial abuse can help protect someone you care about.
Scams can affect people at any age, but older Australians are often targeted. You can learn about common scam warning signs and what to do if something doesn't feel right in protect yourself from scams.
If you're supporting someone in retirement, protect your money in retirement explains scams commonly aimed at retirees and ways to help keep money and personal information safe.
Can I manage my parents' finances for them?
Sometimes helping someone means taking on a legal role.
Before you act for someone else, make sure you understand what you’re allowed to do.
Power of attorney
A power of attorney lets a person choose someone they trust to make financial or legal decisions for them.
Setting up a power of attorney early can make things easier if help is needed later.
Services Australia
Services Australia allows people to appoint someone to help manage their affairs. Depending on the type of nominee, they may be able to:
- receive information and correspondence
- communicate with Services Australia on someone's behalf
- help manage payments.
Authority to act
Banks, utility providers, government and other organisations often allow someone to act on another person’s behalf.
Each organisation has its own rules and forms, so it’s worth checking what documents they need before sharing information or discussing an account.
Guardianship arrangements may also apply to some non-financial decisions.
Where can older Australians get financial information or advice?
Services Australia’s Financial Information Service (FIS) offers free information about money, retirement, government payments, aged care and estate planning.
A financial adviser can give advice based on a person's goals and situation.
If you need more help and support, see get help in retirement.