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8 Ways to Avoid Financial Frauds That Target Seniors

8 Ways to Avoid Financial Frauds That Target Seniors

Each year, millions of seniors fall victim to financial fraud or other scams. These tips are useful for seniors themselves as well as their family members to help protect them. These types of crimes are top priority for those that are in the business of fraud, not even stopping when the victim might happen to be a family member. All too often these crimes go unreported, but using these tips, you can help prevent them in the first place.

1. The Risks Don’t Come from Only Strangers

It has been reported that over 90 percent of abuse to the elderly is done by the older person’s own family. There are many tactics for this include draining joint bank accounts, promising care in exchange for money or property but never delivering on it, and plain theft. If you are or know of a loved one that is being abused financially

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2. Give All Solicitors the Same Answer

Never buy from an unfamiliar company, and always wait to donate to a charity until you’ve read their written material. Of course there will always be children in the neighborhood fund-raising for their school, so they are an exception. Generally, it is wise to never donate to somewhere that requires you to write down your credit card information. Get any sales person’s name, company, phone number, address, and business license number before making a transaction.

3. Stay Involved Locally

Sometimes, older people will isolate themselves by withdrawing from their community while others become isolated as they lose the ability to see, hear, walk, and the like. These seniors can become victimized through muggings and purse snatchings when they choose to venture out alone. There are usually community centers and even family members that will help the elderly stay active in communities aimed at seniors.

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4. Never Give Personal Information Out Over the Phone

One of the large scams involving seniors is the misuse of Medicare money. Some schemes that involve this are billing for services that were never delivered and selling unnecessary services or devices to Medicare beneficiaries. Protect all Medicare information the same as bank information. Also, ensure that Medicare statements are being checked monthly to account for any services. Some seniors experience false debt collections attempts over the phone, and these bank collection complaints should be taken to the authorities.

5. Sign Up for the “Do Not Call List” and Remove Yourself from Mailing Lists

Visit the government’s Do Not Call List signup in order to stop telemarketers from contacting you. Check your mail regularly, and don’t let anything sit in the mailbox too long. When you are sending out particularly sensitive mail, see if you can drop it off at a secure collection box or at the post office.

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6. Shred Receipts

To protect yourself from identity theft, invest in using a paper shredder. Regularly check on your bank statements and don’t ever give out personal information over the phone to someone that calls you from a “business”. If anyone get a hold of your personal banking or financial information, to ensure that you will not encounter identity theft.

7. Choose Direct Deposit Over Checks

When you use direct deposit rather than a check, scammers won’t have the chance to steal benefits checks from the mailbox. A direct deposit will ensure that the money goes straight into the bank account. While the government does use targeted surveillance for certain things, they are not able to monitor all seniors’ bank accounts to ensure that there is no suspicious activity.

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8. Stay Skeptical

Try not to rush into making a purchase, and take the time to call around prior to making a decision. Proceed as an informed consumer. It would also be a good idea to have a friend accompany you to anywhere that you may encounter a difficult decision. It is vital to read all contracts or purchasing agreements before signing anything. Try not to feel pressure when making a purchase, these decisions are only yours.

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Last Updated on August 15, 2018

30 Fun Things You Can Do This Summer Without Spending Much

30 Fun Things You Can Do This Summer Without Spending Much

Summertime can be a real strain on your wallet. The sun is out, there are people to see, places to be; it’s no wonder you might be short of funds during these sunny months. Not everything has to cost you an arm and a leg.

Take some time to go through this list of 20 cheap summer activities and make some realistic goals to complete as many as you can.

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1. Visit a strawberry festival

Summer is prime time for tasting strawberries. More often than not, an area that grows strawberries will have a strawberry festival. Indulge yourself in strawberry pies, jams, cakes and more!

2. Have a picnic

Take your partner or your family to the local park and enjoy a relaxing picnic. Designate each person to bring one food item of their choice to add to the fun.

3. Camp in your back yard

    The summer heat can sometimes make it hard to sleep. Why not enjoy the heat outside in the yard? Pitch a tent or gaze into the night sky.

    4. Take long walks

    Discover something new where you live. Take the afternoon off from your chores and go for a long walk. You may be surprised by what you discover.

    5. Break a world record

    Breaking a world record doesn’t have to be time-consuming. You could even break one on your lunch hour. Give it a go!

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    6. Go on a bike ride

    The number of bike paths on roads in big cities has increased dramatically over the years. Take advantage, and enjoy the summer breeze.

    7. Join a gym class

      The gym is not everyone’s idea of a good time, but why not go with a friend a join a class? Spinning, yoga and step classes are always more fun with friends, and a lot of gyms allow you to pay-as-you-go.

      8. Find a new hobby

      The summer is the perfect time to find a new hobby. Serotonin (our body’s natural “happy” hormone) is produced by the sunshine and will be at a yearly high, which is great for when we want to tackle something new.

      9. Join a sports team

      Not all sports teams are competitive and require huge amounts of your time. Join in the fun with like-minded people, get fit, stay healthy and make some friends along the way.

      10. Make a slip ‘n slide

        Gather your friends, some plastic sheeting, a hose, washing up liquid if desired, and make a huge slip ‘n slide just like these guys. Granted, yours won’t be as big, but you get the idea… it’s fun!

        11. Make a treasure hunt for your kids

        Today’s digital world sees our children more often than not playing inside than outside. Why not create a sense of adventure by making a treasure hunt? Only rule? It has to be outside.

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        12. Visit a free festival

        Towns and cities are awash with free festivals, with themes from film to science. Scout your local area and discover something new.

        13. Visit the zoo

          Let’s face it: we love animals. While browsing news websites and social media networks you’re bound to come across a few pictures of cats. Take a trip to your local zoo for a better experience.

          14. Take a road trip

          Enjoy the open road with a few friends and take a road trip somewhere–anywhere. Just go out and enjoy the sunshine!

          15. Play ultimate frisbee in the park

            Frisbee is always great fun down the park, but why not turn it into more of a competitive sport by playing ultimate frisbee?

            16. Make your own ice cream

            Ice cream is a very versatile dessert. Make a sandwich, enjoy a cone, or simply just enjoy a bowl full. Better yet, making your own ice cream allows you to create any flavor you want.

            17. Invite your neighbors over for a BBQ

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              When was the last time you invited your neighbors over? Do you even know them? Now’s your chance. Just ask each person to bring a food item so costs don’t mount up for you.

              18. Get a summer job

              For many students, summer is the time for relaxation and fun. But who said earning money and being productive isn’t fun? You only get out what you put into a situation.

              19. Attend a charity event

              Attending a charity event is a great way to raise funds and awareness for a cause, meet new people, and generally have a good time. Search for your local charity event today.

              20. Visit a national park

              National parks are a great way to explore nature and learn something new. You could even volunteer and make a difference in helping restore natural habitats.

              21. Visit your local comedy club

                Local comedy clubs are extremely underrated. They are cheap to attend and no doubt you’ll have a barrel of laughs.

                22. Make your own hammock

                  Hammocks are very relaxing, are perfect for summer afternoons and are surprisingly easy to make.

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                  23. Read in your new hammock

                  Now you have your very own hammock, the only thing left to do is enjoy it. Grab your favorite book and read to your heart’s content.

                  24. Watch a movie outside

                  Movies are great. Relaxing outside in the evening is great. Put them together and you’ve got a perfect combination. In D.C, Maryland and Virginia this summer, for example, you can enjoy a huge number of movies outside.

                  25. Take a hike

                    Hikes are a great way to keep fit and see more of Mother Nature. There are countless trails available for you to explore. Why not try some this summer?

                    26. Learn how to fly a kite

                    As a child, you probably had a kite and haven’t touched it since. Why not dust it off and attempt to fly it? It’s tricky, but well worth the challenge.

                    27. Work out at the park

                    American cities are full of parks with ample space for a work out session. No doubt you’ll be happier to work out in the sun rather than a crowded gym.

                    28. Take your dog to the beach

                      One of the many joys of owning a dog is taking him or her for long walks during the summertime. This joy is enhanced when visiting the beach, for both you and your dog.

                      29. Make a summer smoothie

                      Healthy, delicious and perfect for the summer. Not only that, there are countless recipes ready for you to try.

                      30. Attend a free yoga session at the beach

                      No experience needed and all skill levels are welcome. Take yourself and a buddy down to the beach and try some yoga. You’ve got nothing to lose!

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