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Hello,
I am planning to start a Daily Money Manager business in the near future and wanted to ask if anyone could provide recommendations about what training resources and materials would be helpful for learning (1) bill paying processes and systems; (2) budgeting; (3) bookkeeping; and (4) Quicken or Excel software. I am an attorney, so am familiar with many of the legal and contractual issues involved in daily money management, but wanted to get a better sense of what materials I can review to get up to speed in the areas I listed. Also, is there any value in getting some training in bookkeeping or are there any valuable courses/resources worth taking? Any guidance is most appreciated. Thank you in advance for your help.
Ben Kogan
bkogan33@gmail.comBen, Congratulations in making your decision. You started a great first step by joining the group and forums.
DMM’s are a wealth of knowledge!
I am only a few years in so someone else can expand on what I will tell you.
I reviewed all of the resources and books on the website to see what knowledge I had and what I didn’t have.
I also reviewed the topics for the certification. That is great at pinpointing the different areas involved in being a DMM. Finally, I actually purchased the certification guide to learn more of the details needed in practice and in certification. At the time, that guide was very clear in how to “do” money management. I have not seen the newer book so I can’t speak to how that is laid out.
Finally, I’m a voracious reader of personal finance books. Those have been a huge help also.
I wish you luck with your new practice.Hello Ben,
I agree with Julianne and wanted to add that speaking with other DMMs was a great help to me in the beginning, especially DMMs who were working with my target population of seniors and veterans.
Business Basics which is offered by AADMM was not available online when I joined in 2012 so I went to the class and learned quite a bit about how DMMs structured their business processes. There were a lot of variables including whether or not the DMMs worked with their clients in person or remotely. I have a social work background not a financial or legal one so had to get up to speed with some of the financial processes, like Quicken and QB at the annual conference workshops. I also attended classes in my community. You are asking great questions Ben. I encourage you to participate in the monthly AADMM virtual calls, request an AADMM mentor and attend the annual conference if possible. These are great opportunities to meet experienced DMMs who will be happy to share with you. Let me know if I can be of assistance! Barbara Boustead
Julianne and Barbara,
Thank you very much for your insights. I appreciate it and they will be helpful to me as I move forward.
Ben
Hi Barbara,
Where can we find the Monthly Virtual Calls information? I would love to participate in the next one!
Thank you,
TiaThanks Roxanne, I missed this earlier!
Tia, the information is under Chapters and Regional groups
Susie Marbury is the Coordinator
Here’s the info
Susie Marbury – Email: susie@checksandbalances4u.com
Checks and Balances for You, Albuquerque, New MexicoNext Conference Call:
All calls are held the first Monday of the month (unless there is a holiday) at 9 am Pacific, 10 am Mountain, 11 am Central, and Noon Eastern..
October 2, 2017
November 6, 2017
December 4, 2017Thank you very much!
Does anyone know if we get a tracking for books ordered from the Resource bookstore?
Hi Everyone, I have been following many of you in the LinkedIn AADMM Group and have learned quite a bit this past year. I have been working on starting my own DMM side business as I work full time managing the business & financial operations of a synagogue. I have always wanted to start and my dad being ill and ultimately passing away last summer was the final push I needed to do this and feel ready to make the move after the new year.
I’ve been working on a website and belong to an amazing women’s networking group in the suburbs of Chicago.
A few questions, do you prefer QuickBooks to Quicken? I have been using QuickBooks for years in my current and previous jobs. How do I join the calls? I would love to get more involved in the group as a beginner so any suggestions would be greatly appreciated.
Thank you so much,
Jennifer
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