Caregiver Providing Financial Guidance - 5 Things You Can Observe To Prevent Scams And Rip-Offs!

Very often, the role of a caregiver is a blend of aparents' house, then you can be sure that they
doctor, maid, advisor and even an amateurhave been ripped off.
detective. Elderly people are gullible and get- Begin paying attention to their budget. There
regularly fleeced by smooth talking sales persons.may be some problem with the bank account, or
The elderly are fiercely protective of theirtoo many checks to con artists. Check out the
finances and how they use them. However, oftencredit card statement as well.
they make wrong decisions about where to- Check out the 'sent folder' in the email account
spend their money. Therefore, you as a caregiverto verify any response to scam email schemes.
have to look after this aspect and see that theirYour elderly parents are very often defensive of
limited resources will tide them over as long astheir financial activities and will resent your
possible.interference in their affairs. It takes some amount
Many senior citizens have become the victims ofof gentle coaxing and convincing to let you see
scams and smooth talking sales persons who sellthe documents. Getting involved in bogus contests
them a hope and a dream in exchange for theiror get rich quick schemes is addictive and your
money. These sales persons are constantly callingelderly parents are no exception to this. In spite
or emailing old people in the hope of getting a fastof losing thousands of dollars to such scams, they
buck. If the elders become victims of a scam, it iswill still get cheated by the next crook who
something they try to hide from their caregivers.manages to convince them, because they are
You as a caregiver may never know if they haveaddicted to it. You need to be gentle and
been ripped off, and they will never tell you aboutunderstanding to approach the problem and find a
it. Hence, you have to assume the role of ansolution.
amateur detective to find out about suchAs a caregiver, you must convince your elderly
episodes and take steps to rectify the situationparents to let you handle their finances. You can
as much as possible. There may be some thingsstart by handling their taxes and once they are
you can observe to find out if your parents arecomfortable with the idea, you can offer to take
victims of scams:over the bill payment and manage the checkbook.
- Watch out for your parents' mail. If theyLater, you can begin gently questioning the
receive large amounts of junk mail with get richexpenditure that looks suspicious to you. Do not
quick schemes, or phony contests, etc., it istry to get back any lost money, however, be
possible that they may have become a victim ofvigilant enough to prevent any unfamiliar person
some scam.from getting access to the money. Cancel all the
- Spend some time at your parent's home anddirect debits that are not easily identifiable. Start
answer the phone there. If there are a largegetting a control over the phone calls, junk mail
number of calls from charities or scam offers,and emails. In other words, you have to play the
then their names have got passed around torole of a guard dog to protect your parents from
other such scam artists.scam artists and con men out to fleece them of
- If you see a lot of junk items lying around yourtheir money.