17/11/2025
Financial Literacy in Retirement: Budgeting & Avoiding Fraud
Financial wellness is just as important as physical wellness especially during retirement. After years of hard work and saving, managing your finances wisely helps ensure a comfortable and worry-free future.
-Budgeting Smartly:
Creating a clear monthly budget can make a world of difference. Start by listing all your income sources pensions, savings, and any other funds then track your expenses, from daily groceries to medical costs. A simple budget gives you control and peace of mind, helping you stretch your money where it matters most.
-Beware of Scams and Fraud:
Unfortunately, financial scams often target older adults. Be cautious of unsolicited phone calls, emails, or “too good to be true” investment offers. Always double-check with a trusted family member, friend, or your financial institution before sharing personal information or making payments.
Tips to Stay Safe and Secure:
-Never share your banking PIN or personal details over the phone.
-Regularly check your bank statements for suspicious transactions.
-Seek professional advice before making major financial decisions.
-Remember: if it sounds too good to be true, it probably is!
Financial literacy empowers you to make confident decisions and maintain your independence. With a little planning and awareness, you can enjoy your retirement years with both financial stability and peace of mind.
