See how fast you can get out of debt
The Weekly Roundup: This Week – 5 Articles about Money-Marketing Scams and How to Avoid Them
“Rather than develop something useful, Internet Marketers create something out of thin air: likely a worthless e-book, or some sort of coaching session that consists of a semi-regular phone consultation.”
Technology and culture blog Boing Boing provides us with a much-needed look into how Internet marketing scams actually work. Author Cory Doctorow writes about ways to spot a scam and how you can protect yourself and your money.
“One of the reasons getting rich quickly is nearly impossible is that we’re chasing an ambiguous goal with odds heavily stacked against us. Whether playing the lottery, online poker, trading volatile stocks or similar, we are always looking for easy ways to significantly increase our net worth.”
Forbes writer Ken Sundheim writes about why certain money-marketing scams are so appealing and how they can be potentially damaging. Sundheim’s article goes into detail highlighting the various get-rich-quick schemes that are currently gaining momentum and how you can avoid them.
“The first rule on investments is that if you do not understand how the instrument works, don’t sink your funds into it. This applies to all schemes that promise ‘guaranteed income’ and ‘fast and huge returns’ within a short time. In financial investment terms all such schemes are huge risks.”
Moneylife author Yogesh Sapkale writes about the importance of doing a thorough background check before you invest your time (and money) into a potential marketing scheme. Though a number of money-marketing schemes may be initiated by a friend or relative, it’s still important to do a background check.
“As you research money-making opportunities, you’ll want to think like a detective. Phrases such as ‘immediate job openings’ and ‘no experience necessary,’ paired with non-specific job titles (like ‘customer service’) or a promise to work from home can be warning signs.”
Although detecting a scam can be difficult, author Laurie L. Dove lays out a few warning signs to help us be better informed. In her article for HowStuffWorks, Dove focuses on ways to detect a scam and what to do if you’ve been a victim.
“The concept behind the pyramid scheme is simple and should be easy to identify; however, it is often presented to potential investors in a disguised or slightly altered form. For this reason, it is important to not only understand how pyramid schemes work, but also to be familiar with the many different shapes and sizes they can take.”
Of all the get-rich-quick schemes out there, the pyramid scheme may be the most popular. Investopedia author Reem Heakal highlights the key points of a pyramid scheme and how you can spot one.