Earning money is the thing you need to do so that you survive. Without money, you can’t do much unless someone else is providing for you. But the basic thing remains – money is important.
So there comes a natural progression that you need more money because it guarantees an easy life.
You go for the interview hoping that you will get loads of money for your skill and expertise. And all you get is the assurance that you are lucky to get a job. The economy is bad, no cash flow and you are not unique – so you are lucky to get an undeserving salary. Because at least you are getting something.
Now you go home and reevaluate all the loan you took for education, the promises which were made to you and the lack of proper ground reality which no one bothered to tell you.
You are disheartened and so you start watching YouTube videos and enjoying the cute cat videos hoping it will cheer you up.
As you sip your coffee and smile along the cute cats, there comes an ad for a scheme which will give you 1 percent interest per day. That is 365 percent per year; compared to a bank which pays 7 percent per year, this is a golden opportunity.
All you had to do is open an account and deposit the money. And refer some of your friends if you want to.
Sure, you think.
The website looks stunning, there are faces of people who invest your money in highly lucrative deals not available to common people and that’s why you will be getting such high returns.
You deposit $10 to check it and then next morning – voila. Your account is credited with $0.1. This goes on for weeks so now you deposit $100 and boom you are now getting $1 per day. You can’t control all the happiness which you are getting. Suddenly you could vanish all your problems.
And then there is a pop-up asking you to refer people, and if you do then you will get $5 per referral.
This is gold, you think.
Then you invite all your friends and some colleagues. Because this is an opportunity no one should miss. And everyone would get out of it with more money they can imagine. What if you could put $10000 in it, then you will more income from this scheme than any salary you are getting right now.
All goes well for a few months. And then one fine day there is no notification of interest being credited in your wallet.
The Cat Is Out
You wait for one more day but still nothing. So you go to the website and it doesn’t exist anymore.
You call there number, email them but there isn’t anyone out there who can help you. They have vanished in thin air. Google comes to your rescue because probably it can answer all your question. You type in the name of the company and Google auto-suggests ‘scam’.
You skip a heartbeat.
You click on the first link and it explains how this fake company worked. It lured the customer by giving money to the initial batch of people. So they would refer more people and invest more.
And this cycle would continue for a long time. Till they reach a point that the investment in their wallet is sufficiently larger than their payout. And boom they would vanish.
Because there was no company, no market they were investing in. They simply took advantage of a situation you were in.
You wanted a quick buck. And they realized it is easy to trap you. So you entered their scam willingly and now there is more loss than before. All the money you have invested is lost. Also, the friends whom you referred are going to be angry with you for referring them.
You cry your heart out. But is there a solution?
It Doesn’t Matter
Yes, you lost a significant amount of money. Go file a report and that’s it. Learn the lesson – don’t invest in some random companies which promise absurd high returns.
Don’t refer people unless you are 100 percent sure. Even then, ask them to do their due diligence.
Would it be better if you didn’t get scammed? YES
But you will get scammed in some way or another if you have lived for at least 30 years. The best you can do now is learn from it and be more careful. Never go crazy with your money for hopes of becoming rich.
When it comes to money, you will get $1 when you can give an output of at least $1.1 dollar.
Like a breakup, take it as a lesson – move on fast. And be cautious with your money. Now get back to doing the work which matters to you.