Even though it’s about 13 years ago, I remember being stressed at times when planning our wedding. Just like we heard at the top of the show, as soon as you announce your engagement it can feel like you’re being swarmed with questions about the big day. But as much as your loved ones mean […]
Coastal Credit Union
Protecting Your Older Loved Ones from Financial Scams
Learn how you can protect your loved ones financial abuse and how to minimize the damage if it happens!
Financial Scams and Protecting Your Family
A few years ago, my husband’s nana had sent over money to a scammer pretending to be him.
She had thought he needed help and so she generously sent it in.
It was a wake call for us . After looking into this and talking with others, our family isn’t the only one who’s had to deal with this.
Last year, a record 24,454 suspected cases of elder financial abuse were reported to the US Treasury Dept by banks.
I can’t tell you for certain why they’re being targeted, but there are two key factors to consider.
By 2030 US Census Bureau estimates 1 in 5 people will be 65 or older.
Two, there’s a significant amount of money tied to our older friends and family.
According to the American Bankers Association, 70% of bank deposits are with people over 50.
So you have a growing and market that is appealing to scammers.
So what can we do to protect our grandparents, parents, and other older loved ones?
Today Joe Mecca from Coastal Credit Union is back.
In this episode, we’ll discuss:
- What financial scams are out there
- Warning signs and What to look out for with your loved ones
- How your bank or credit unions should be protecting you
Hope this helps!
If you want to hear more from Joe and find out more about credit unions please check out my interview here.
We discuss how credit unions can be a better option for couples looking to grow their wealth.
Resources to Win with Your Money
Want to go ahead and tackle your big marriage and money goals? Here are the resources we mentioned in today’s episode along with some extras!
- 3 Critical Ways to Prevent Elder Financial Abuse
- Scamming Grandma: Financial abuse of seniors hits a record
- Best Budget and Money Apps: Personal Capital, Tiller, Mint
- Grow Your Stash Faster: High Yield Savings with CiT Bank
- Automatic Saving:
Qapital - Jumpstart Your Marriage and Your Money
Support the Podcast!
Thank you so much for listening to the podcast!
- Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
- Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
- Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Music Credit
Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More
What to Do If Your Wallet or Purse was Stolen
Protect yourself from identity theft and minimize damage with this handy guide on what to do when your wallet or purse is stolen!
My Wallet was Stolen, Now What?
If you’re subscribed to the community newsletter you may remember that in July I mentioned that my purse got stolen in Denver.
We were over in Colorado to celebrate my cousin getting married. Beautiful weekend and celebration, but yeah that was a sour note for sure.
We spent a good chunk of time on the phone and online to get things squared away.
As we were working to avoid getting hit with any unauthorized charges and sort out things with TSA since our flight back was only a few days away, I wished I had a handy and quick guide on what I needed to do.
I hope you never have your wallet or purse stolen, but if you do I want to make things easier.
That’s why I have Joe Mecca from Coastal Credit Union on. Here’s joining me today to discuss on what you need to know to protect yourself against identity theft and what steps you need to take to recover or replace what was stolen.
I want to help to minimize the damage and stress so you can get back to your routine and focus on the important things.
Resources to Protect Your Identity and Finances
If you’ve had your wallet or purse stolen or lost, here are some resources we mentioned in the episode as well as some other handy articles to check out:
- IdentityTheft.gov
- Protecting Yourself from Identity Theft
- FBI Futurist Shares His Top 5 Tips For Protecting Your Identity Online
- How to Fight Back Against Identity Theft
- The Equifax Data Breach: What to Do if You’re Affected
- Coastal Federal Credit Union
- Credit Union Locator
- Annual Credit Report: Free way to review each of your credit reports
For freezing your accounts or putting an alert you need to contact the credit bureaus.
- Equifax: 1-888-766-0008
- Experian: 1-888-397-3742
- TransUnion: 1-800-680-72892.
Support the Podcast!
Thank you so much for listening to the podcast!
- Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
- Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
- Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Music Credit
Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More
How to Bank Better: Finding the Best Places for Your Hard Earned Money
Tired of getting hit with fees from your bank? Today we’re going to see how you can find the best place to stash your cash to save and earn more money!
Best Banks for Your Money
All this month we’ve been talking about big decisions you need to make about health insurance and investing that will have an impact not only on your finances next year, but beyond.
These are things you should care about for sure, but I want to cover pretty much a crucial decision you don’t want to ignore – your bank accounts.
Where and how you bank can either help you reach your financial goals faster if you got a great banking partner or it can hinder you and drain your wallet if you have a dud.
In this episode we’ll get into:
- why / where/ and how you bank matters
- 3 alternatives to the big banks that can save and make you more money
- How to easily set up and automate your money
Hope you enjoy!
Resources to Get the Most Out of Your Bank Accounts
Are you two ready to master your joint accounts? Do you want to create a system that fits your priorities and styles?
Here are some resources to check out:
- Coastal Federal Credit Union <- We bank with them
- Want a Happier Marriage? Combine Bank Accounts
- Finding the Best Banking and Investing Accounts
- Optimize Your Bank or Credit Union Accounts
- Jumpstart Your Marriage and Your Money
- Track These 2 Key Numbers to Master Your Money
- Best Budget and Money Apps: Personal Capital, Tiller, Mint
- Automatic Saving: Qapital
- Free 401(k) Analysis: blooom
Support the Podcast!
Thank you so much for listening to the podcast!
- Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
- Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
- Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Music Credit
Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More