When it comes to avoiding fraud, is it better to be young and savvy or old and wise?

Answer: Gen Z

• 45% of people aged 20-29 reported losing money to fraud (compared to 25% of people 70-79)
• However, people over 70 reported a higher median loss amount

Questions:

• Do you know anyone who has been a victim of a financial scam? Explain. 
• Why do you think that young people are victims of financial fraud more often than older people? 
• What are some financial scams that you are aware of?
• What are some strategies that can help to avoid scams? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CSN): 

"Of the over 2.5 million fraud report, 27% indicated money was lost. In 2023, people reported losing over $10 billion to fraud - an increase of over $1 billion over 2022. Over $4 billion of losses reported were to investment-related scams."

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NGPF's Consumer Skills unit can give your students practice on being savvy consumers.

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PLAY: Spot the Scam Signs can give your students practice on identifying specific scams (note: this activity is included in Semester Course lessons)

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.