SMART MONEY POCKETBOOK
Safe Money Tips for Elders...
By Arhaan Swaika
Hello!
Hello, my name is Arhaan Swaika. I am 17 years old and currently a Class 12 student at La Martiniere for Boys, Kolkata.
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I am interested in economics and business because they bring together ideas and numbers to show how decisions shape markets, societies, and the world around us.
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In my free time, I enjoy swimming, playing football, and playing chess. These activities keep me active, help me develop discipline, and encourage me to think strategically.
My Story
My grandmother has always believed that gold is more than just metal — to her, it represents security, tradition, and joy. Little did we know that her love for gold would one day expose her to a scam that changed the way I think about financial safety for elders.
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After my grandparents moved to Banaras to run a small homestay, one day my grandmother received a message followed by a call from someone claiming to be a bank employee. He spoke convincingly about a “gold bond scheme” where, by paying monthly installments, she would eventually get a bar of gold at three-fourths of the market price.
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Her excitement was endless. Without telling my grandfather — certain he would lecture her for being “too obsessed” with gold — she quietly began making the payments. She told no one else either, holding onto her little secret with the hope of surprising the family one day. But the dream soon collapsed. It turned out to be a fraud, and she lost her hard-earned money.
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That incident opened my eyes. I realized how many older people, especially those living alone, in old age homes, or away from their children, are vulnerable to such scams. It was this moment that inspired me to create Smart Money Pocketbook — a resource to help elders make informed financial decisions, stay alert to fraud, and feel empowered in managing their money.