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While it is hard to imagine, a crime that we see committed over and over, are crimes against elderly people by way of fraud and other forms of exploitation. Not only is this illegal, but it is also immoral and it is hard to imagine something like this happening to someone we know and love. At Freedom Debt Relief, we want to help caregivers and loved ones to avoid the older people in their lives from becoming victims of elder exploitation.

Sadly, a recent study Freedom Debt Relief reviewed shows that almost $3 billion is fraudulently exploited out of seniors each year. That is each and every year. This is a huge loss of money for people who generally live on a fixed income and this reduced income can spell disaster for the person’s ability to meet their daily needs. While it would be nice to think that this is rare, the numbers just don’t bear that out.

As Freedom Debt Relief found out, 1 out of every 5 people over the age of 65 has or will suffer from some form of elder fraud. This is a huge number and it means that, chances are, you or an older person you love could also be a victim of these predatory processes. What follows are just a few tips and hints on how to manage your own, or help the older person in your life manage their finances in a way that reduces the likelihood of becoming a victim.

Cognitive Decline and Finances

One thing that Freedom Debt Relief found is that those who are of advanced age (80+), as well as those who are suffering from some form of cognitive decline are far more likely to be victims of fraud than those who do not. If you start to notice that your memory isn’t what it once was, or if you are a caregiver who notices this about a loved one, you might want to turn over control of the finances to someone who can manage it. This will reduce the likelihood that your finances or your loved one’s finances are compromised as a result of someone taking advantage of their decline.

Avoid Scams

While Freedom Debt Relief knows that we want to be able to trust in the kindness of others, the sad fact of the matter is that there are people out there that are looking to scam people. You need to be wary of anyone who is selling something that seems to good to be true or that comes along, promising that, for a fee, they will be able to solve all your problems. Older people are far more likely to be targets and victims of such scams as they tend to not be as technically savvy and are more likely to trust other people.

Freedom Debt Relief notes that being open with your finances with someone you trust as you get older is just a smart way to help avoid becoming a victim to fraud. Being willing to turn over your finances to someone you trust if you start to notice some memory slips could ultimately save you your entire savings. Be skeptical and wary of anyone who is trying to sell you something that seems way too good to be true or anyone who thinks they can solve your problems (for a fee, of course) and make your world as good as new. Maintain a high degree of skepticism and enlist the help of someone you trust when making big decisions.

According to recent reports, India’s GDP grew up by 5% in the financial year, 2012-2013, which was the lowest since the last decade. It seems that the 2008 recession still looms large on the daily lives of the Indians. While the lawmakers are there to take larger and bigger decisions about the nation’s GDP, the common man can’t do much about macro-economic indicators. As we’re about to step into 2015, we need to organize our finances and revisit, learn and imbibe some timeless personal finance lessons from the maestro Warren Buffet so that we can overcome the financial shocks that may be in store for us in 2015.

1. Review 2014 before you start: Before taking any step, start off with a review of 2014. How did you fare? What points did you miss? Which financial tasks are still pending? Where did you commit some of the biggest blunders? Were all your investments on track? By evaluating your strengths and weaknesses that you’ve portrayed in 2014, you will easily be able to deduce the steps that you need to take to improve your finances. Write down everything in points so that you don’t forget anything while planning for 2015.

2. Create a frugal budget: Budgeting is a basic but important tool. When you know what you earned and where your money went, you can be aware of your current financial situation. Often times, when your expenses are high, a large part is accounted by all those unexpected and unplanned expenses like entertainment, eating out, coffee shop bills, which are difficult to control and restrain. So, you should first know the excess outgo and then analyse the spending habits so that you can limit each expense. Live within your means and check yourself whenever you see that you’re outdoing your budget.

3. Spend wisely and live thriftily: Warren Buffet says that if you buy things that you don’t need, soon you will find yourself sell things that you need. Most of us suffer from the urge to splurge and most often we justify our expenses using the pretext of special occasions, lifestyle, family emotions and even smart decisions. Most marketing companies understand this urge and they try to exploit by giving us offers on products. Unhealthy carbonated drinks are sold with promises of adventure, youthfulness and happiness. You may also take the example of EMI options on expensive smartphone. Little do they understand that through the EMI option, people tend to pay more in the long run.

4. Save money for the financial odds: Remember that someone is sitting under the shade today as someone planted a tree long time ago. All of us are aware of the fact that saving money is important to have a better future. But it is indeed an alarming fact to observe that most of us don’t even save enough money for the emergencies. This happens due to our extremely myopic view of our personal financial condition. Today, instant gratification matters more than saving for tomorrow. In fact, saving is considered as sacrifice by most people. Follow the “pay yourself first” principle. Set aside some money for your future.

5. Plan for the long term and be patient: No matter how great are your talents and effort, there are some things that just take time. Can you ever produce a baby in one month by getting nine women pregnant at the same time? Money is also a part of nature and it can’t grow overnight. However, we always overestimate money that we can make in a year and underestimate what we can make in 10 years. People should make money by staying invested for the long-term instead of dancing in and dancing out of the portfolios and changing them constantly. According to India’s growth, you can benefit only if you invest for long term and stop panicking for short-term fluctuations. Based on your risk appetite and financial goals, make a diversified portfolio. Pick right financial instruments recommended by your financial advisor.

6. Borrow within your limit: Remember that you can never become rich by living on borrowed money. Initially people think that borrowing is manageable and to later on repay the previous borrowings, they take out yet more loans like the debt consolidation loans. This is more like fighting-fire-with-fire approach towards debt reduction. Borrowing should never be done without an objective assessment of future cash flow and other financial needs. Have a solid plan to pay the debt back and not become its slave.

A debt-free life is indeed the best life. In spite of knowing this, there are many who hardly take the required steps to stay on the right track. If you’re not willing to spend a life immersed in debt, take into account the above mentioned financial tips by Warren Buffet.

The overwhelming credit burden requires effective resolution. However, the debt aspects are so complicated that it is often confusing to understand even where you stand at the debt status. The monthly bills keep on coming, and the numbers seem like huge burdens on your mind. The risk entailed in a debt crisis involves all things you hold dear. The vacuum of unpaid dues threatens to take your home, car, and subsequently the job. Many debtors are already without a job. The situation is even more drastic for them than the average homeowner. However, debt is also a great equalizer. Everyone facing it feels the same haunting vulnerability. You need to overcome the distress via a suitable solution. Look up a credible debt relief agency for the purpose.

Checking essential registration

You must be aware that several agencies operate without proper licensure. Either they do not have the registration at all, or they have an invalid document. Working with dubious services can land you in deep troubles you do not want. Many identity theft services do rounds in the debt market. You can identify them by the unrealistic claims. It is impossible for a company to make a person debt-free within one week. You cannot just make thousands of dollars in debt disappear overnight! Money is not an illusory magic trick! It is the realest thing in defining a society. You need to be superbly realistic in facing money issues. Never forget to discuss the consequences and penalties of missing an installment. Always ask whether the service can provide their verifiable registration number. Follow this approach even when you apply online.

Identifying the right service

Of course, a company can facilitate consolidation within a week. It requires efforts, but a well-connected service can easily accomplish the task. Call the customer service in verifying whether they have the necessary systemic contacts. Check if they maintain stable connections with the bank and credit card services. The debt relief service must negotiate your consolidation with lenders. You may follow the official protocol of bankruptcy. Many services also offer consolidation on a one-to-one basis, without filing a bankruptcy claim. You have two claim options, the chapter 7 and the chapter 13. Discuss the appropriateness of both parameters with the debt rescue customer support.

Convenient loan provisions

The relief service essentially arranges the most convenient loan package. However, you need to verify whether the assigned conditions are compatible with your personal finance. Start with checking your monthly budget balance sheet. You can also use amazing online accounting resources to develop a balance sheet. See whether the credit repair agency has the necessary tools such as debt calculator and budget balance sheet. They may or may not have it. You can find many free online software solutions for the purpose. You must check the loan interest rate total value. Services also levy additional fees on the final amount. Inquire to interpret the exact amount you need to allocate every month for repayment.

You must find a service with the most helpful attitude. Their genuine helpfulness must reflect in different aspects of their service. See if they can adjust the service fees with the loan monthly installments. Understandably, it is extremely difficult for you to pay in lump-sum at the first. The convenient payment packages simplify things. The company should be able to present a clear blueprint of debt freedom. However, you may need to make some personal adjustments. Consider shifting to a debit card or a secured credit card. These can effectively assist in managing your credit bills. You do not even receive a bill with the debit card purchases. However, you need to look up legal options for certain specific loans that do not fall under the bankruptcy plea even.

With today’s troubled economic climate and with the fact that things seem to cost more than ever before, it’s incredibly easy to find yourself in debt. Tanked housing values, a tight lending market and high unemployment make it tougher than ever before to make ends meet. Unfortunately, for many, the relief of tapping into funds from credit cards, home equity and personal loans resulted in mounds of un-repayable debt.

This is a problem faced by people from all walks of life—from military veterans to teachers and even seemingly successful lawyers, doctors, and the like. The good news is that no matter who you are, what you do, or even how bad your debt problems are, you can take control of the situation and find your way out of debt for good.

Know Where Your Money Goes

One of the major reasons that people find themselves in debt is because they are not mindful of their spending habits. Starting right now, however, you can change all that. Spend a few days or a week writing down every penny that you spend and what you spend it on.

You’ll quickly see the areas where your spending is out of control, and that can help you choose areas to cut back. Need help regaining control of your finances? SpendingProfile.com is one great online resource for cataloging your spending habits.

Budget Your Money

Just as you need to see where you’re spending the majority of your money, you should also be aware of what bills you have and of your overall income. Take the time to sit down and write out a monthly budget. Pay attention to how much you earn, how much you have to pay for each bill and when bills are due. If you actually do have the money to handle your debts, you’ll be able to get back on track easily; if you don’t, you’ll know it’s time to turn to other tactics.

Working with Creditors

Often, when individuals are overwhelmed with debt, they choose to ignore their financial problems. When those creditors call, they refuse to answer the phone or they toss those past due bills in the trash can. This is a big mistake, however.

In many cases, if you’re willing to talk with your creditors and explain your situation, you can work out some kind of payment arrangement that’s better suited to your needs. Financial Library offers a great guide to dealing with your creditors.

Filing for Bankruptcy

Sometimes, people get so far into debt there’s really no easy way out. When this is the case, it may be time to consider filing for bankruptcy. While bankruptcy is often regarded as a financial dead end and one that leads to horrible credit, it actually helps people get back on their feet with a fresh financial start.

It’s not easy, however, and many applicants don’t qualify. Speak with a credible bankruptcy attorney to find out if you do, and, if so, what your next step should be.

Adrienne Erin is a blogger and aspiring author. When she’s not blogging about tech and social media, you might find her practicing her French, whipping up some recipes she found on Pinterest, or obsessing over vintage postcards and stamps.

Are you eyeing a mortgage relief? Well, the answer is most likely to be ‘yes’, as millions of homeowners across the U.S.A are struggling hard to find the effective relief program or help. Often, homeowners feel that the money that could be saved via the relief programs would help them sustain other costs that were so long been postponed due to financial restrictions. A number of alternatives offer effective relief programs helping the mortgager adjust with his or her payments. The relief ideas in actual sense come to your best help in times when a particular circumstance blocks your road to payment.

Therefore, if you find yourself in hard times owing to mortgage payment then, consider relying upon any one of the following methods –

The Lender

While looking for a mortgage relief idea, consider contacting your lender, as a priority. All you need to do is call up the mortgage statement and request the call to be offered to the department of loss mitigation. This particular department helps in establishing a loan modification program that allows you to change the mortgage terms according to your convenience leading you towards a safe payment rather than foreclosure.

Refinance Program

The Home affordability Refinance Program (HARP) help in cases you have Freddie Mac or a Fannie Mae loan. This program allows the Fannie and Freddie mortgage holders to refinance their present mortgage within a value of 105 per cent to 125 per cent of the present value and worth of the home. This particular program also focuses on the idea of helping the mortgagers with better terms and conditions on the mortgage laying an improved situation financially. For availing, the best benefits with these two above-mentioned relief programs consider contacting the loan service provider for the application procedure.

Consult an Attorney

Consulting an attorney or a specialized real estate lawyer in times of hardship with your mortgage also helps in finding an effective mortgage relief program. If you are in a fixed financial situation then, consider relying upon your attorney for a loan medication program that can help in either delaying or avoiding a foreclosure.

Government Help

If you are facing problem in paying off your mortgage then, turning to government programs help in dealing with the mortgage issue. The Making Home Affordable Program and the Home Affordable Refinance Program are two such programs that are designed to assist the homeowners experiencing trouble with the mortgage payments.

However, while finding out the effective mortgage relief program, you need to keep in mind taking cautious steps towards the idea. Many a time, steps taken in hurry have resulted in bad decision that had further made the mortgage situation worsen leaving the mortgager in trouble. Therefore, it is advisable that you choose a relief program doing the background research well to save yourself from the hassles.

The author, Aalina Jones here provides smart suggestions on mortgage relief. This article will certainly help people gather plenty of information regarding loans and mortgage policies.