Seniors and the elderly are often targeted for these cybercrimes. They tend to be more trusting than younger people and usually have better credit, and more wealth. This makes them more attractive to scammers.

If your bank or credit union carries federal deposit insurance, your money is protected by the U.S. government. Should the worst happen, you won't lose your hard-earned savings.

Saving money is an important part of creating financial security now and later. Once you get a handle on managing your expenses and budget (including saving every month), it's time to decide where to keep your money.