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20 Most Notorious Get Rich Quick Schemes You Must Say NO

Filed under Info & News

The idea of becoming self-employed and rich is an obsession of the millennials. No wonder there are so many seductive offers to make quick money. While some of them might still be worthy, the most of these schemes are too suspicious. It is better to stay away from these twenty get rich schemes that are likely to become your nightmare.

get-rich-quick-schemes

1. Pyramid Scheme
This get rich quick scheme is based on recruiting new members to the business. The initial investment is obligatory. Then the main task is to encourage a certain amount of people to join. The profit can only be made by involving new participants, but eventually, too many of them needed to support the pyramid and it fails.

2. Get Rich Seminars, Webinars, And Books

get-rich-seminars

The appealing advertising of a seminar or webinar promises that after you buy a ticket for this event or a certain brilliant book, you will know the secret how to become rich instantly. Which is not revealed is that they made their money on the ticket payments to the seminars that do not give any useful information.

3. Internet Business
The person offers you to become a business partner requiring only a reasonable payment for that. This scheme seems clear and profitable. What is hidden is that you also get the responsibility for the business dark past and illegal actions.

4. Envelop Job
This scheme promises lots of money for a simple work of stuffing the envelopes. Each envelope costs a penny or even less. To make some money you would need thousands of them. And it will not even cover the initial fee. It may also require a stuffing envelopes tutorial or kit that you should pay for.

5. Online Reviews
Getting paid for writing book, restaurant, and movies reviews seems to be amazing. In reality, you have to earn a huge sum to withdrawn the money. Even if you do, there is a requirement to encourage other people to join like in a pyramid. The tasks are endless.

6. Pay Per Click Fraud

pay-per-click-fraud

The service offers payment for clicking on online ads. Making an annoying advertisement profitable sounds great, right? However, your work will bring you pennies that you will not be able to get. You may also get fined for clicking on your own website if you have one as it will be considered cheating.

7. Secret Shopper
A secret shopper is a nice way to make some extra money. A plenty of websites offer help with starting in this field. Some of them turn out to be a scam demanding money for the list of the shops in which you may work.

8. Hand Work
A person is supposed to make a lot of money on putting together the elements of furniture or jewelry. The efforts usually do not even cover the price of the materials.

9. Writing Jobs
Online writing job can be profitable if it is secure. If the employer asks you for your social security number and other personal information for the tax forms, it is very likely to be a scam. It might be an attempt to steal the identity that will bring money to the thief, not you.

10. Risky Investments

ponzi-scheme

Ponzi scheme is old and well-known, but it is still used to trick the people. If you did not meet personally the owner of the company, it is not a good idea to invest money. Even if there are a lot of others people who assure you that it is trustworthy.

11. Small Company Investment
On forums and blogs, there are a lot of recommendations to invest in a small company that will bring much more money. These tips are usually fabricated by scammers. They increase the stock price significantly very fast to get the profit. It is better to check the companies before any investments.

12. Real Estate Flipping
Buying an abandoned house, renovating it and reselling seem to be a good way to get richer. It is important to remember that certain repairing skills and a lot of time is needed to make it work. Make sure the real estate market in the area is favorable for reselling in order not to fail.

13. The Wall Street Concept

wall-street-concept

Investing in secret inside information without knowing what it really is may lead to jail as it was in a movie. This type of business might be illegal and it is better to stay away when the insiders offer valuable knowledge about the company.

14. Power Balance Bracelets
The magic power bracelets were not proved to be a scientific miracle. There are websites that will try to convince you to purchase a box of bracelets and sell them to friends and relatives. It will take a lot of time and money, but will not make you a billionaire.

15. Pimp My Ride
Flipping cars is a business similar to reselling real estate. There are same risks. Buying a car to repair it and sell for a higher price has same chances to make you richer as buying a lottery ticket.

16. Vitamins and Supplements Distribution
This scheme involves products that are considered to be extremely good for the health like vitamins, food supplements etc. The company promises that you will become a millionaire distributing these goods. In fact, they just want to sell this to you.

17. Take it To the Court
Some people manage to make a fortune by suing huge companies for the service that caused damaged to their health. A well-known case, when a lady got burnt spilling on herself the coffee from McDonald’s and got the money compensation after. You may try to take to the court, but if you lose, you will still have to pay for a lawyer.

18. Buying an Instagram Account
There are a lot of offers to buy a well-developed Instagram account. It saves time and you may make money on advertising immediately. However, it is against the rules of this social network and the profile might be banned after the purchase.

19. Buying Followers
Buying followers for your Instagram account is supposed to make you famous and give a chance of passive income stream. In reality, most followers are fake and will not bring any profit.

20. FengShui and Magic
If you are still not rich, it means your money channel is closed and your karma needs to be cleaned. That is what you may hear from a person with so-called super powers. It is promised that after a session you will get rich very fast. If not, you would probably need another session for a reasonable price.

Guest Author: Ann Mosley

Ann Mosley is a representative of Business Loan Gate online service. She believes that some research and the right attitude can help anyone improve their knowledge of personal finance.

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