How Rising Costs Make You More Vulnerable to Scams — and What to Do About It

How Rising Costs Make You More Vulnerable to Scams — and What to Do About It

Higher prices are leaving many households with thinner margins, less savings, and more stress. That same financial pressure is being exploited by scammers, according to a recent survey covered by Fox 59. The report highlights a troubling pattern: as living costs climb, scam attempts increase and more people fall for them. Understanding why this happens—and what you can do about it—is essential for protecting your money.

What the Survey Found

The survey, which the Fox 59 report drew on, found that a significant number of respondents reported an uptick in scam attempts as everyday expenses rose. While the exact statistics vary depending on the source, the broad conclusion is consistent: economic hardship creates a fertile environment for fraud. Scammers are adjusting their tactics to target people who are worried about paying bills, finding affordable housing, or covering unexpected costs.

It’s not just that more scams are being attempted—people are also more likely to engage with them. When money is tight, a false promise of debt relief or a too-good-to-be-true discount can override normal caution. The scammers know this, and they are actively adapting their scripts to match current anxieties.

Why Financial Stress Increases Vulnerability

Psychological research and fraud prevention experts point to several reasons why higher costs make people more scam-prone.

First, urgency. When you’re struggling to make rent or pay a utility bill, any offer that promises quick relief feels worth a risk. Scammers create artificial deadlines: “Call now or lose this limited-time grant.” The fear of missing a chance to solve a real problem clouds judgment.

Second, distraction. Juggling rising costs on multiple fronts—groceries, gas, medicine—leaves mental bandwidth thin. It’s easy to skip verifying a caller’s identity when you’re already overwhelmed. Fraudsters count on people being too tired or busy to double-check.

Third, desperation. In a tight financial spot, people may ignore red flags they’d normally catch. The potential reward—even if unlikely—can seem worth the gamble. This is especially true for scams promising government payments, debt forgiveness, or job offers that require an upfront fee.

Common scams targeting this moment include fake utility discount programs, phony rent assistance, impersonations of tax or benefits agencies, and “loan” offers that ask for a processing fee. Many of these use official-sounding language and even spoof legitimate phone numbers.

Practical Steps to Protect Yourself

The good news is that awareness and a few habits can dramatically reduce your risk. Here are concrete actions you can take right now.

1. Pause before acting on pressure. Any legitimate offer, grant, or debt relief program will still be available tomorrow. If someone demands immediate payment or personal information, that is a red flag. Hang up, close the browser tab, or delete the message. Wait at least 15 minutes before taking any next step.

2. Verify independently. Do not use contact information provided by the person who reached out. Look up the official phone number or website of the company, government agency, or charity yourself. A quick search can confirm whether the offer is real. If the caller claims to be from your utility company, call the number on your latest bill—not the one they gave you.

3. Never share sensitive information unsolicited. That includes your Social Security number, bank account details, credit card numbers, or login passwords. Legitimate organizations will not ask for these out of the blue. If someone asks for an upfront payment via gift card, wire transfer, or cryptocurrency, it is almost certainly a scam.

4. Use a credit card for online purchases. Credit cards offer stronger fraud protection than debit cards or cash transfers. If you do end up paying a scammer, you have a better chance of getting your money back by disputing the charge with your card issuer.

5. Stay informed about current scams. Fraud tactics evolve quickly. Check updates from sources like the Federal Trade Commission or your state consumer protection office. Being aware of the latest schemes makes you less likely to be caught off guard.

When you’re under financial strain, it’s natural to look for quick fixes. But that is exactly when you need to be most skeptical. Slowing down, verifying, and trusting your instincts can save you from losing money you cannot afford to lose.

Sources

• Fox 59, “Money Matters: Higher costs increasing scam risks, survey says,” June 15, 2026.
• Federal Trade Commission, consumer advice on imposter scams and economic relief fraud. (https://www.ftc.gov)
• AARP Fraud Watch Network, resources on scams targeting older adults and financially stressed consumers.