2023 Annual Report
According to the Association of Chartered Certified Accountants (ACCA), the global economy in 2025 “is a world marked by significant uncertainty” due to changes in US trade policy, the challenging geopolitical backdrop, and rising government bond yields.
It’s important that we do what we can to prepare ahead of time for any potential changes that can affect our financial security during these times of turmoil, particularly if you are part of a group that may be facing increased uncertainty.
In this blog post, we will provide suggestions and advice for anyone looking to prepare for a loss of income, protect themselves from rising scams, and guard access to their accounts in the event that they suddenly need to leave the country.
While preparing for loss of income is never easy, there are some things you can do ahead of time to lessen the potential impact.
During times of turmoil and uncertainty, scammers often take advantage of people’s vulnerability and fear. For example, during the COVID lockdown, Barclays reported a 66% increase in reported scams.
With the constantly increasing technology, scams are only getting more challenging to identify, so we must remain vigilant and know how to protect ourselves and our accounts against fraud.
Common scams to watch out for during these times:
While we can be aware of potential scams, fraud that happens due to security breaches can be out of our control. Protect your financial accounts and data by following these steps:
Whether you are in the U.S. or another country, it’s important to ensure you have access to your accounts whenever and wherever you may need them. To help you prepare for a sudden departure from the U.S., we’ve developed steps you can take today to give yourself the most flexible access to your funds:
Your funds are generally safer when they remain in your account so that your trusted financial institution can work to keep them protected, no matter where you are. Reach out to your financial institution today for guidance on making any updates. If you are a Self-Help member, you can call our contact center or stop by your nearest branch to connect with a staff member.
For additional resources, please check out The Resurrection Project and the National Immigration Legal Services Directory.
At Self-Help, we believe in supporting communities in building wealth and opportunities for ownership. We know that these times of turmoil can be stressful, but there are actions you can take to better protect your finances in the event of any potential upcoming challenges. If you have trusted us as your financial partner during these uncertain times, we thank you for being a member of our community and reaffirm our commitment to finding ways to support you.
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