• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Top Gimmicky Ways To Make Money, and Get Cheated

December 29, 2015 1 Comment

Share this:

  • Tweet
  • Email

Gimmicks usually go hand-in-hand with ‘get rich quick’ schemes. A gimmick itself is not a bad thing. It simply refers to a trend where someone has made a lot of money and everyone else wants to imitate them. Sometimes they work, but most of the time not.

Top Gimmicky Ways to Make Money

 

We are going to list the top gimmicky ways people try to make money. What is most insulting of all is that the people purporting these methods are often making money off your failure. So the purpose of this article is to make people aware of these traps out there. So, be prepared when someone try to con you the next time.

Top Gimmicky Ways To make Money and Get Cheated

  1. Internet Business Opportunities

You have seen them before. Invest in this business or that business and you get access to a business that will change your life. While we are not saying all Internet business opportunities are something to be wary of, run far away if they ask for some money down first.

  1. High Yield Investment Programs

Just ask yourself why someone who discovered a high yield investment program would tell everyone about it. You will soon realize that this is nothing but a Ponzi scheme. Be aware particularly of investment programs where you never actually meet the other person.

  1. Penny Stocks and Microcap Scams

These are essentially low-priced securities given out by small companies. They supposedly offer huge returns. Many people invest in them on impulse because they received a tip from someone, or they read it on an investment blog somewhere.

These are nearly always plants to drive the stock price up. Only the first load of investors makes money, and they are always the scammers.

  1. Flipping Houses DIY Style

Flipping houses can work, but it also doesn’t take much for it to go wrong. Don’t flip houses on the advice of someone else. It’s not an industry that’s easy to make money from. Research the area and understand the local market before you part with any cash.

  1. Investing on Inside Information

You would be surprised at how common it is to invest in a company based on the insider information of a sales rep. Not only is insider trading illegal, but also there are no guarantees that it will work. Furthermore, this (bogus) information nearly always requires you to pay a fee.

  1. Stuffing Envelopes

We were as startled as you to find out that this still exists as a gimmicky way to make money. This also includes packing envelopes and writing letters. This work is genuine, but the pay is terrible. You will only earn a few dollars per day despite stuffing thousands of envelopes.

  1. Webcasts on X, Y, and Z

These gimmicky ways to make money normally involve you attending this secret conference only you have been invited to. You pay for your ticket and that is the end of that. The information given will be superficial at best, assuming it happens at all. Paying for these things is rarely worthwhile. Only purchase them from a reputable provider.

  1. Ponzi Scheme

Bernie Madoff is famous for pioneering this legendary scheme. The traditional scam involves taking money from one investor to pay another until it becomes a web of deceit and the money disappears entirely. Of course, most of the investors lose out. Nevertheless, this is still one of the big gimmicky ways to make money. Beware of investing in anything you can’t fully confirm the authenticity of.

  1. Selling Magnetic Power Bracelets

These are a trendy product now because they supposedly enhance athletic performance. Nevertheless, there’s no scientific evidence to back this up. Eventually, it’s going to catch on, so don’t buy a bunch of them to sell in the community. At best, you will have to give your family and friends a refund. At worst, you will have a garage filled with worthless bracelets and no way to get rid of them.

  1. Pyramid Schemes

Pyramid schemes are alive and well. These work by dragging people in. You sign up twelve more people or make twelve more sales and each person under them has to do the same thing. You will never reach the top of the mountain and you are buying into making someone else rich.

You will lose out. This pyramid scheme is a big problem in the online arena. You tend to see it with dubious programs where the whole idea is to get them to subscribe or sign up.

  1. Pay Per Click

Pay Per Click (PPC) ads can make a lot of money for the creator. For everyone else, you will earn mere pennies for advertising someone else’s products. Even thousands of successful clicks will earn you next to nothing. This is a relic of a bygone age.

Today, it’s known as a gimmick that only the inexperienced Internet users fall for. It’s simply a waste of your creative efforts.

  1. Paid Reviews

Reviews are everything. And as we move increasingly towards online shopping dominating the entire worldwide market, reviews will only become more valuable.

Amazon has clamped down on paid reviews with actual lawsuits, and the chances are they are going to do it again. You will never reach the big money and it’s morally reprehensible. It can get you in some serious legal trouble.

  1. Become a Mystery Shopper

On the face of it, becoming a mystery shopper sounds like the perfect gig. There are so many websites available to help you get started in this field. However, the catch is you aren’t paid until you’ve made a purchase and carried out your duties.

Of course, even if you do as they ask you will never receive any money. It’s a scam to get people to buy things they don’t really need. Genuine mystery shoppers aren’t sourced from random websites found online or through social media.

The Things they have in Common

You will see that the principles of yesteryear still ring true. We see the same types of schemes appearing repeatedly. The only difference is, they have altered the playing field and the type of product involved. Anything that you invest in or decide to put time into should be investigated with due diligence. In addition, if anyone asks you for money to get started, run the other way.

Author Bio: Daniel Gaines is apart of a team of financial experts over at www.WaysToMake.org, comprised of individuals that span the ranges of scholars to single mothers. We have all had our fair shares of falling into financial gimmicks, creating money pits rather growing in wealth. If it sounds too good to be true, then it most likely is too good to be true.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« How To Become Financially More Secure in The New Year
How To Start a Side Business with Vending Machines »

Comments

  1. Josh says

    December 30, 2015 at 12:46 PM

    I’m sure that everyone starting out on their search for a source of easy online income has explored the majority if these gimmicks at one time or another. I know I did! This is a concise list with some quick information to keep people out of trouble. With a lot of these sources you’ll end up best case with some pennies in the bank and worst case thousands in debt.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media