Financial Savy for Seniors

The theme for Seniors Month across the province is “Living Your Best Life”.

According to the Chamber of Commerce in Peterborough, there are more than 27,000 seniors who call Peterborough home. The numbers swell into the County of Peterborough and surrounding areas. This year, seniors will be celebrated at the 5th annual Seniors Showcase on Wednesday June 14th at the Peterborough Sports and Wellness Centre on Braley Drive. More than 100 venders will display goods and services that celebrate aging and living well in the Peterborough area.

In the Credit Counselling program, we understand that it can be very difficult for seniors to talk to a stranger about their finances. They have been managing just fine for many years, and we respect all that they have accomplished. But we also understand that sometimes finances can become complicated for various reasons. Changes to household income due to health problems, relocation, medical expenses, helping other family members or loss of income can all impact our financial stability.

Unfortunately, sometimes financial difficulties stem from financial abuse, scams, fraud or theft. These things can happen to any of us at any age, but seniors are often the targeted victims. Illegal activity can take many forms and happen anywhere; at the door, over the phone, online and even at cash registers. Sadly, abuse may even happen at the hands of those we thought we could trust. A credit counsellor will listen to your story in a respectful and non-judgmental way, and help you decide on the next step. We can offer suggestions to protect your finances going forward, provide you with information and options to resolve debt and support you in reaching out to other community partners if needed.

We must all do what we can to protect our finances, and at Credit Counselling we highlight the most basic safety rules that apply to everyone: trust your gut, never do business with anyone you did not contact first, and remember that it’s okay to “just say no”, hang up, or don’t open the door. To learn more about specific information for tailored for seniors visit: seniors.gc.ca , elderabuseontario.com, and seniors.gov.on.ca

For online safety, everyone should visit getcybersafe.ca

Another way to stay well, physically, mentally and financially is to stay in touch with your community. The City of Peterborough is Celebrating Seniors throughout the month of June and there are lots of activities to take in. Visit www.peterborough.ca/SeniorsMonth for more details or call (705) 742-7777 ext. 3211 for more details.

A big part of living your best life includes financial wellness. We hope you will visit Credit Counselling at the Seniors Showcase on June 14th, and let us answer your questions and help you keep your finances safe.