5 “Good Investments” That Are Actually Total Scams

An unfortunate financial reality: the world is full of money scams. The even worse reality? They’re often marketed to us as great investments.

You probably recall at least once or twice having someone come to your house and try to convince your mom to sell Avon products so she could get rich quick, or scrolling past an ad on Instagram that promises that if you spend $200 on detoxifying tea that you’ll lose weight, and perhaps more importantly, ~cleanse~ your body (ummm, don’t we have organs for that?). And when it comes to scams like these, it is often good enough to remind yourself of the golden rule: “If it sounds too good to be true, it probably is.”

But sometimes, the scam is a lot sneakier. Sometimes, it is presented to you as something that is such a good investment you couldn’t possibly pass it up (raise your hand if you’ve been told at least seven times that you should be investing in Bitcoin). And when you’re under that kind of pressure and genuinely hoping for something to actually be a good financial investment, it is that much easier to get tricked into believing that these promises are legitimate. And don’t get us wrong, there are tons of “good investments” in the world that are actually good investments — that just makes it all the more difficult to differentiate between the good things you should actually be doing with your money, and the things that are total scams.

That’s where we come in. In this week’s video over on the TFD YouTube channel, Chelsea goes through and highlights some of the most popular money scams that are probably presented to you in your everyday life as good money investments. She goes through exactly what they are and how they might financially screw you to arm you with the knowledge you need to prevent yourself from getting duped.

If you want to make sure you’re not falling victim to money scams, head over to the channel and check it out:

Image via Pexels