Journal of Evidence-Based Social Work, 9:498–511, 2012 Copyright © Taylor & Francis Group, LLC ISSN: 1543-3714 print/1543-3722 online DOI: 10.1080/15433714.2011.581530 The Value of Daily Money Management: An Analysis of Outcomes and Costs DEBRA SACKS The Brookdale Center for Healthy Aging, Hunter College, New York, New York, USA DHIMAN DAS Asia Research Institute, National University of Singapore, Singapore RAQUEL ROMANICK and MATT CARON The Brookdale Center for Healthy Aging, Hunter College, New York, New York, USA CARMEN MORANO School of Social Work, Hunter College, New York, New York, USA MARIANNE C. FAHS School of Health Sciences, Program in Urban Public Health, Hunter College, New York, New York, USA For vulnerable and frail older adults, management of daily fi- nancial obligations can become an overwhelming burden spiral- ing into at-risk situations. Social service agencies have developed community-based Daily Money Management programs to assist these adults in protecting their financial security. Through this study the authors present the first economic estimates of the costs of Daily Money Management programs which, along with case man- agement programs, save $60,000 per individual when compared with the cost of nursing home placement, making them highly cost effective. Most importantly, individuals are able to remain in their homes. The authors address the current gap between cost-effective community-based practice and public policy support. KEYWORDS Daily money management, outcomes and costs, el- der abuse, frail older adult, case management, crisis categories, community based services Address correspondence to Debra Sacks, Brookdale Center for Healthy Aging and Longevity, Hunter College, 2180 3rd Avenue, New York, NY 10035. E-mail: rdsacks@aol.com 498