we are at our wits end o know how to deal with our son - in particular his attitude to financial affairs. He ignores bill and penalties and twice we have bailed him out. Now we cannot do this any longer. Strategies required - maybe people suffering similar difficulties could talk and discuss tips and strategies?
I understand how difficult this is. My son was diagnosed with paranoid schizophrenia in his teens. He is not good with finances so I handle most things. Not ideal for when I’m not around in future, but he has the help of a Community Psychiatric Nurse who would take over, I suppose.
He has a Nationwide account which will not let him pay out if he has no money, so he doesn’t go into the red. He has a linked ISA account and can transfer money as he needs it. It pays a small amount of interest.
I have informed all the services - gas, electricity, water - of his situation so they know he is vulnerable.
My son’s income is from Universal Credit and other benefits. Where does your son’s income come from? Would he let you handle his affairs?
If he has got into debt the Money Saving Expert website has some very good info on money and mental health. You should never have to pay for advice on handling debt.
Hi @Navsteve , the only thing I can suggest if your son is bad as this, is to get his Social worker to refer him to a social care home//inderpent living rung by a care firm that would look after him and his finacal issues.
Insist that he gives DWP permission for you to become his Appointee, so you manage his money. I do this for my son with LD, I pay all his utility bills etc and then pay housekeeping into an account he has access to. Works well.
Hi @Navsteve
Now that pre-pay customers cannot be charged a higher rate than other customers, another option could be pre-pay meters for him. You could wait until the warmer months when if he doesn’t budget properly and you know he wont freeze etc