They say if it seems too good to be true, then it probably is

Three money-making schemes that people still fall for.

They say if it’s too good to be true, it probably is

They say if it’s too good to be true, it probably is, but there are a lot of dishonest businesses that do a good job of taking your money and convincing you otherwise. A lot of the methods businesses use to get you on board promise to improve your life by preying on weaknesses; helping you ease financial burden and grow your wealth. You know to avoid scam emails from long-lost rich uncles, but here are three legal money-making schemes that people still fall for.

1. Payday loans
Payday loans seem like a good way to ease your financial stress. They work on the premise of borrowing a small amount of money for a short period in order to pay off immediate debts. However, payday loans are notorious debt traps and the high interests rates could leave you in even greater debt. A payday loan should be your very last resort and only taken on if you know you’ll be able to pay it back.

2. Phony financial advisers
If you need help managing your existing investments and implementing strategies to increase your wealth, a financial planner, adviser or accountant can provide you with valuable advice. What you’ll find is that there are a number of phony financial advisers who profit from the good reputation of more reputable individuals and businesses. These dodgy advisers will try to trick you by misrepresenting their credentials to make themselves appear trustworthy. When hiring an adviser look out for credentials from reputable institutions and check that they are certified by the Financial Planning Association of Australia.

3. Wealth-building seminars
If going to a free seminar and listening to someone else tell you how to get rich was all it took, everyone would be a millionaire. If it’s not a ploy to get you to buy real estate or invest in a timeshare, it’s a Ponzi or pyramid scheme. These schemes have been around for years, and while you might get a promotional bag with a free key-ring and a pen, ultimately all you get is ripped off by someone promising to make you rich while only increasing their own wealth. Steer clear of these false ‘opportunities’.

Have you ever been the victim of a get-rich scheme?

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    COMMENTS

    To make a comment, please register or login
    floss
    30th Dec 2016
    3:07pm
    Sounds like the Liberal party to me.
    Anonymous
    30th Dec 2016
    4:14pm
    LOL
    Oldman Roo
    30th Dec 2016
    4:40pm
    Congratulations , I could not agree with you more , they are the leaders in deception .
    PIXAPD
    2nd Jan 2017
    4:48pm
    Fools and their money are soon parted
    Charlie
    3rd Jan 2017
    9:29am
    The whole employment system seems to be a scam. I have a job agency that notifies me of vacant positions but half of their positions are jobs being advertised by another job agency.
    PIXAPD
    5th Jan 2017
    5:38pm
    I think many so called 'Job Agencies' have their noses in the PUBLIC money trough, ripping off the taxpayer... a bit like Child Care Centers receiving Govt payments but have no children.... ha ha ha


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