Online Activities That Will Leave You Broke
You can get involved in online activities that sound promising, whether to make money, meet people or have fun. However, you must be aware that many of these activities can leave you broke, so it is better that you learn how to detect the signs of potential financial danger, so you can stop before it is too late.
The Risks of Online Gambling
Internet casinos are the online version of the famous brick and mortar casinos that have attracted thousands and thousands of gamblers throughout time. However, the main advantage of online gambling is that anyone can bet from home, but also has many disadvantages that online gambling was banned in the USA since several years ago.
However, most online casinos operate offshore, allowing people to bet regardless of their place of residence. These websites are a major risk to your finances, particularly those where online bingo is king, because this game is truly addictive and you might end up spending more money than you can really earn despite all those testimonials and videos showing how many people win the bingo jackpot every now and then.
Ghostly Get Rich Quick Schemes
Another way to become engaged in online activities that will leave you broke consists of trying to make money the easy way. There are countless get rich quick schemes online that are disguised as money-making opportunities that are multi-level pyramid or ponzi schemes. These types of activities you are invited to participate in may include the purchase of herbal products, jewelry pieces, and even virtual real estate with the sole purpose to get other people investing money in fraudulent projects.
HYIP and Forex Investments
Although, it is possible to find real money and investing opportunities on the web, you need to be careful when it comes to investing large amounts of money in dubious or risky projects such as High Yield Investment Programs (HYIP) and Forex, which play with the foreign currency exchange market. Although, some people claim to have made a fortune with these programs, there are many others that regret to have risked their savings trying to make money quickly with this volatile financial alternative.
Scams and Phishing Sites
Nobody likes to get involved in online activities that are connected with scams, but many times a scam comes across as well crafted that it is hard to detect the financial risk behind it. Many people are lured with promises that are supposed to return thousands or millions of dollars just by investing some money from your own pocket. However, those scams are designed to rip you off, same as phishing websites that look exactly like legit websites where you use to provide your financial information and therefore facilitating that such fake sites that look alike steal your money.
Legit Sites but Wrong Decisions
Finally, there are also legit online activities that will leave you broke due to your lack of knowledge, an example, investing online in the stock market without really knowing its trends or buying financial products that are out of your budge, turning a good money opportunity into a source of endless headaches.
Category: Personal Finance
