Higher Costs Make You a Bigger Scam Target: What to Watch For Now

When money gets tight, it’s natural to look for ways to save, earn extra cash, or delay payments. Unfortunately, scammers know this and adjust their tactics accordingly. A recent survey reported by Fox 59 suggests that rising living costs are directly linked to an increase in scam attempts. While the exact methodology of that survey should be verified, the pattern itself is well documented by consumer protection agencies. Here’s what’s happening and how you can protect yourself without adding to your stress.

What the Survey Found

According to the Fox 59 report, the survey indicates that as household expenses climb, more people report being targeted by fraudsters. The reasoning is straightforward: when consumers are financially strained, they may be more likely to click on a “too good to be true” offer, answer a call about overdue bills, or skip normal verification steps. This doesn’t mean you’re at fault if you get scammed — scammers are professionals at exploiting pressure points. But knowing the most common tricks can help you spot them before it’s too late.

Why Financial Stress Makes You a Target

Scammers follow the headlines. When inflation, rent hikes, or utility cost increases dominate the news, they craft pitches that feel urgent and relevant. Common angles include:

  • Fake debt relief or loan offers – Promises to lower your payments or consolidate debt, often requiring an upfront fee.
  • Investment scams – “Guaranteed high returns” pitches that play on fear of falling behind financially.
  • Utility impostors – Calls or texts claiming your power or water will be shut off unless you pay immediately.
  • Job and gig scams – Fake work-from-home jobs that ask you to pay for training or supplies upfront.
  • Phishing emails disguised as banks or government agencies – Especially those referencing stimulus payments, tax refunds, or emergency relief.

The common thread is urgency. Scammers want you to act before you have time to think or check with a trusted source.

Top Scams to Watch For Right Now

Based on recent data from the Federal Trade Commission (FTC) and the Better Business Bureau (BBB) Scam Tracker, these are the scams that tend to surge during economic downturns:

  1. Government impersonation scams – Callers claim to be from the IRS, Social Security, or a local utility. They demand payment via gift cards, wire transfer, or cryptocurrency. Reality: Government agencies do not demand immediate payment by these methods.

  2. Online shopping scams – Fake websites offering deep discounts on essentials like groceries, diapers, or electronics. You pay and receive nothing. Tip: Use a credit card for online purchases; you have more dispute rights than with debit or payment apps.

  3. Job offer scams – You’re “hired” without an interview, but first you must pay for background checks or equipment. Legitimate employers never ask you to pay for a job.

  4. Debt relief traps – Companies that promise to reduce your credit card or student loan balance for a fee. Many charge upfront and deliver nothing. Nonprofit credit counseling is free or low cost — you don’t need to pay for legitimate help.

How to Protect Yourself

You don’t need to become paranoid, but a few simple habits can stop most scams:

  • Slow down. If someone pressures you to act immediately, hang up or close the browser. Real emergencies can wait.
  • Verify independently. Look up the official phone number or website of the company or agency that supposedly contacted you. Don’t use the number they gave you.
  • Don’t pay with gift cards or cryptocurrency. These are the favorite payment methods of scammers because they’re nearly untraceable. No legitimate business asks for them.
  • Check with the FTC or BBB. Before paying for any service, search for the company name plus “scam” or “complaint.”
  • Enable two-factor authentication on your email and financial accounts. This adds a layer of protection if your password is compromised.

If You’ve Been Targeted

Act quickly:

  • Contact your bank or credit card company to report unauthorized transactions and reverse charges if possible.
  • Report to the FTC at ReportFraud.ftc.gov.
  • File a report with the BBB Scam Tracker (BBB.org/ScamTracker) to help warn others.
  • Change passwords on any accounts you may have shared (even inadvertently).
  • Place a fraud alert on your credit report if you suspect identity theft. You can do this for free at Equifax, Experian, or TransUnion.

Don’t feel embarrassed. Scams happen to people of all income levels and education backgrounds. Reporting is the most useful thing you can do.

Staying Vigilant Without Being Paranoid

The best defense is a healthy skepticism — not fear. When an offer seems too good to be true, it probably is. When a caller demands immediate payment, it’s a red flag. By staying informed about current scams and taking a few extra seconds to verify, you can protect your money and identity even when times are tight.

Sources:

  • Fox 59 report on higher costs and scam risks
  • Federal Trade Commission (FTC) – ftc.gov/scams
  • Better Business Bureau Scam Tracker – bbb.org/scamtracker