Investment and scams

Adulting is not fun at all. You are required to decide what to do with the money you earn in a month. You can either choose to spend it on what you need and want, leave some for the rainy days and invest what's left for your future. It's a big decision to make every month, unless you don't care at all where your money will go.

The word “investment” is a big word for me as it equates to taking risks. I hate risks; I'm a kind of millennial who would rather be sure that the money is intact than gamble and not be certain if a percentage of that risk will come back. So when a couple of my friends came to me to invest in a certain company that is similar to a pyramid scheme, I declined.

The stakes are high in so-called investments; big returns in a short period of time that comes not just once but many times! If you were too concerned to gain more money, you would most likely go for it, but in this time today it is best to be wise than sorry. So why am I not open to these kinds of investments? I have learned that there is no such thing as easy money; you always have to work hard for it. If you want to double your money then double the effort and it will all pay off.

It is important for an individual to know well where his/her money will be going. So if a friend or a family member would like to entice you into a certain investment scheme, read up before taking a leap. It might be a scam and disappear with your hard-earned money. I have a few investments but the decision to put my money in did not come in a heartbeat. I had to think more than twice and researched on the background of the company handling my money to be sure that they won't run away with it. It pays to always be informed these days.

With the recent issues on the named companies that have been tagged as scams, it might be too late to back out now, but we can all learn from this experience. I know that times are hard today --the value of basic necessities continue to soar with the basic pay not increasing at all. I know we all need to make it good in this day and age where inflation has hurt our finances but it is always better to be sure where your money goes.

I hope this all serves as a lesson to those who are desperate to multiply their money. The basic principles are still effective --only spend on what you need, don't go beyond what you can't afford, and always set aside a certain amount as savings for the rainy days. When in doubt when it comes to investing, do your homework and I'm sure you will do good in your finances. Never hesitate to seek assistance from those older than you, they know better.