Rising Costs Make You a Bigger Scam Target — Here’s How to Protect Yourself

A new survey has highlighted a troubling pattern: as living costs climb, so does the number of people falling for scams. The report, covered by Fox 59, found that higher expenses are making consumers more vulnerable to fraud. While the exact statistics aren’t public yet, the core finding matches what consumer protection advocates have warned about for years—financial pressure clouds judgment and opens the door to exploitation.

What the survey found

The survey, whose methodology and sample size have not been fully detailed, reported a measurable increase in scam susceptibility among people facing higher costs of living. It suggests that the current economic climate—with inflation still high and wages lagging—is creating a perfect environment for scammers.

This is not an isolated claim. Similar research from organizations like the Federal Trade Commission and AARP has consistently shown that financial stress correlates with higher fraud victimization. When people are worried about paying bills or feeding their families, they are more likely to take risks they would otherwise avoid.

Why financial stress makes you a target

Scammers don’t create crises—they exploit them. Here is what happens when money is tight:

  • Urgency overrides caution. A promise of quick cash or debt relief becomes hard to resist when the rent is due. Scammers rush you into decisions, and the fear of missing out takes over.
  • Desperation weakens skepticism. Normally skeptical people may lower their guard when an offer seems like a lifeline. “What do I have to lose?” becomes the mindset.
  • Less time to research. When you are juggling multiple jobs or worrying about expenses, you have less energy to verify a company, read the fine print, or spot warning signs.

Scammers know this. They monitor headlines and tailor their pitches accordingly—fake stimulus checks during the pandemic, phony energy rebates when fuel prices spike, and now “too-good-to-be-true” debt consolidation offers as interest rates rise.

Scams to watch out for right now

Given current conditions, these are the types of fraud likely to increase:

  • Fake debt relief and loan offers. Ads promising to erase credit card debt or secure a low-interest loan, often demanding an upfront fee. Legitimate lenders never ask for payment before lending you money.
  • Phishing disguised as financial assistance. Emails or texts that appear to be from a government agency, bank, or utility company, asking you to click a link to “confirm your eligibility” for a relief program. Never click unsolicited links.
  • Investment scams. Promises of guaranteed returns in cryptocurrency, real estate, or penny stocks, especially those that emphasize “limited time” or “exclusive opportunity.” If it sounds too good to be true, it almost always is.
  • Rental and housing scams. With rents high, scammers post fake listings for below-market apartments, ask for a deposit before a showing, then disappear.

Red flags to watch for

No matter the scam, a few warning signs consistently appear:

  • Pressure to act immediately. A genuine offer will still be there tomorrow.
  • Requests for payment by wire transfer, gift card, or cryptocurrency. These methods are nearly impossible to trace.
  • Unsolicited contact. If someone calls, emails, or texts you out of the blue with an offer, treat it with extreme suspicion.
  • Asking for personal information you shouldn’t share. Legitimate organizations rarely ask for your Social Security number or bank details via email or over the phone.

How to protect yourself

  • Slow down. Scammers rely on speed to bypass your reasoning. Take a day to think about any financial decision before acting.
  • Verify independently. Look up the company or person through official channels. Don’t use the contact information they provided—find it yourself through a trusted source.
  • Use official channels for financial assistance. If you need help with bills, go directly to government programs (e.g., LIHEAP for energy assistance, SNAP for food) or reputable non-profits like United Way. Do not respond to ads promising to “help you apply.”
  • Monitor your accounts. Check bank and credit card statements regularly. Set up alerts for unusual activity.
  • Report scams. If you encounter a suspected scam, report it to the FTC at ReportFraud.ftc.gov. This helps authorities track emerging threats.

Stay vigilant, even when times are tight

Financial hardship is stressful enough without adding the risk of being scammed. The survey from Fox 59 is a timely reminder that hard economic conditions make us all a little more vulnerable. By recognizing the tactics scammers use and taking a few simple precautions, you can protect your money—and your peace of mind.

Sources: Fox 59 coverage of the survey; Federal Trade Commission consumer advice; AARP fraud watch reports. The survey’s full methodology has not yet been released, so specific figures are not included here.