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Program to Assist the Elderly with Protecting Their Finances Is Available

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Program to Assist the Elderly with Protecting Their Finances Is Available

July 30
02:54 2019
Program to Assist the Elderly with Protecting Their Finances Is Available

When it comes to financial fraud and scams, seniors are by far the most targeted victims. This is because seniors very often live alone and do not have the support system that other members of the general population do. To help prevent financial fraud when it comes to seniors, here are some helpful tips to keep them safe with their hard-earned money.

Caregivers or family members should pay very close attention to the way that the seniors in their lives talk about finances. If they ever state that they are confused by the state of their finances, if their money is inextricably missing, or if they report strange individuals are trying to talk to them about their money, it is high time to put a close watch on that person’s finances.

One easy way to spot if the senior in your life is being taken advantage of is if their spending habits change. Seniors are almost always set in their ways and creatures of habit. If there is even a slight change in the way they spend their money, then it should definitely be looked at further.

Never blame the senior. They will be less likely to be honest about their finances if they feel embarrassed or if they feel they are being attacked. Approach them with kindness and understanding and offer them solutions such as the Senior Checks & Balances program. This will allow them to feel more empowered than they typically would. It also helps to further educate them on matters of finance and what to look out for and be aware of in the future.

Talk to the bank that the senior does business with. The bank can inform you of all of the security measures they have in place and what they can do to help protect the senior. They may also have programs such as the one found at https://seniorchecksandbalances.com/. In addition, if you are a relative of the senior, they may allow you to become a steward of the senior so that you have a say in who the senior gives money to. This will have to be done with the permission of the senior of course.

There are several other more intensive steps that can be taken to ensure that the senior is not victimized for their money. This can include contacting law enforcement regarding recouping lost or stolen funds and calling Adult Protective Services. Other professionals, such as a financial advisor, may be able to help spot aberrant financial patterns and view more discrepancies than the average layman could.

As you can see, there are several smart and easy ways to help the senior in your life to avoid getting scammed and having all of their money taken from them. By following these tips, you can be assured that no harm will come to the senior whom you are concerned about. Stick to these rules and they will be fine.

Media Contact
Company Name: Senior Checks and Balances
Contact Person: Owner
Email: Send Email
Phone: 773-457-1952
Country: United States
Website: seniorchecksandbalances.com