I WAS reminded by Sloan Wilkins in his column (Local Ipswich News, May 30) about how money can affect the way a couple lives and how they handle their finances. And how important it is that we get things right.
But exactly what is money?
Money provides a safety net, shielding us from the uncertainties of life and allows us to cover our basic needs. It gives us peace of mind, knowing that we have the resources to weather the ups and downs of life.
Money, in different forms has been around for at least 5000 years, starting off with commodities such as shells, salt and livestock and progressing on to physical money that is believed to have emerged in China around 1000 BC.
Earliest forms of money appeared only as a concept through a bartering system. In the 17th century Netherlands, tulips were so valuable and in demand that some traded their valuables and paid thousands of guilders (their previous form of currency) for the flower.
Now, I’m not wanting to get into Sloan’s area of expertise, but in the past this column has dealt with other areas that seniors, whatever the age, have to be careful of.
And money these days is right up there on the list of priorities that our attention should be fixed upon.
Not only are scams proliferating, but those people on the dark web are finding new ways, it seems every day, to try and fleece people, especially seniors, out of their money – their safety net if you like.
If you have older parents, then it’s time to try and bring up the subject.
They’ve been looking after their finances themselves for many years successfully, but just lately in the last five years or so these scams have increased and morphed into many different varieties of fraud. Not just money!
Talking with them regarding the many and varied ways they can be conned out of their finances may save them from a stressful time in the future.
But not all older people, seniors, have sufficient resources. Many have, with the Government’s help and assistance, preserved a nest egg, but others through no fault of their own have meager assets to fall back on.
It seems that poverty has increased among not only the older population, but young families and single households as well.
For those having difficulties, speak to your family.
There are also many government and private agencies out there ready and able to help and assist, as well as many sites on the internet where you can seek advice and more knowledge of certain situations you may find yourself in.
