Financial Safety

Becoming a senior means a time of relaxation and finally having the time to do many things that you had put aside over the years. Unfortunately, it also brings its own dangers along with it. There are those who take advantage of seniors just because of their age, putting their financial safety at risk.

The following are some financial safety tips for seniors:

  • Always keep track of your credit cards, bank accounts and financial statements each month. If you notice something that isn’t correct, contact your bank branch immediately.
  • Don’t lend money. You are in the time of your life when you need to be careful with your finances. Offer advice instead of a loan.
  • Don’t discuss your financial information with anyone. If you find that someone else is asking questions regarding your finances, change the subject immediately.
  • Appoint a power of attorney. This should be a trusted family member or close friend.
  • Widows and widowers should be especially careful. Beware of any strangers who suddenly are trying to be friendly.
  • Seniors who are once again dating should avoid meeting possible new mates through an online dating site. Have friends introduce you to new companions and ensure that you know their background.
  • Maintain control of your finances. Keep up to date on all of your accounts and statements. Don’t let someone else take over handling your money.

Most seniors are more than capable of taking care of their financial matters, however, because of their age they are targeted by certain types of scammers. Be aware and be careful who you speak with or become friends with who may show too much interest in your finances. See original article from Durham Regional PoliceĀ ServicesĀ here.

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