LET’S get to the point: people desire to be rich and gain money as soon as possible.
Shortcuts, get rich real-quick scheme, double or triple your money, risk free, guaranteed returns…
Sounds familiar? What’s next? Shame. Regrets. Depression. Death?
Remember, there is hope and you don’t have to take away your life and embrace your foolishness. It happened because you allowed it.
The only difference is how you get back on your feet and face your shame. Just like sin, the devil calls us by our sin but God calls us by our name. Friend, may this enlighten you because we’re not condemning you if you are scammed.
Weeks ago, someone shared his story of attempting to end his life because the retirement fund of his parents was taken away–scammed online. Another lost her savings only to be fooled or scammed by a close friend to invest in an unfamiliar method of trading.
My friends and I spread financial literacy as open as we can. Our inbox is open 24/7 and I salute OFWs and online friends asking me privately if the financial instrument or offers they receive are scam or not–good job!
I’m sure you’ve heard the saying: “If it’s too good to be true, then it probably is.”
The pandemic season took away linear income to most households. No more travels and non-essential spending. Filipinos suddenly became “kuripot” because the uncertainty of the pandemic scares them. The popular options to earn are trading in the PSE, FOREX and Cryptos. These three are commonly used by scammers online and offline.
The problem is, not everyone is willing to learn online. The majority wants to earn but are too proud to discover even the basics.
There are some who are willing to figure out things first and learn online trading before investing their hard-earned funds. It’s difficult to be overwhelmed by too much information especially now that articles and tutorials are everywhere.
I got message in my inbox:
“What are your insights about this?”
“Is this [a] scam? Can you help me check their offer?”
“Is this safe? Can I invest my savings here?”
I highly appreciate that motion for two reasons: first, they ask and that’s a sign of humility; second, they value wisdom for their safety instead of risking something important due to innocence or maybe ignorance.
Scams end relationships.
Sooner or later, you will hate the person who recruited you to invest your hard-earned money. Please don’t hate them but instead communicate openly on how you can retrieve your funds if you have the chance.
Another problem we are all aware is that people decide to stay underground, privately in group chats, hidden or under the radar and invest in secret.
Their reason? They can surprise their friends in the end and brag about how they earned money quickly.
They do it in secret because if they fail, they will not be ashamed. Nothing to lose right?
If you see people invest or trade in Crypto, FOREX or PSE or in any other financial instruments then let them be.
Your job is not to chase them. Your job is to understand and connect to your financial goal. Invest only if you are ready with a plan, proper mindset and right purpose.
My personal and practical tips:
1. Ask. Message your friends and post it in your timeline if you don’t know. You don’t have to be the first one in the line if a Crypto is up online. Check your queue if it’s a line for slaughter or line for profit.
2. Read. It’s easy to search and read articles about new stuff online. Google and wait for news. When there’s smoke there’s fire.
3. Observe. Watch your friend’s words, gestures and lifestyle then consider those signs when you decide to invest. Not all offer and selling are bad. Look for your friends’ intention intently.
Bonus:
Discern. Your inner self will be uncomfortable if something is wrong or will go wrong. Sometimes people say: trust your gut.
If you are a victim of a scam and you can’t recover your funds then consider it as expensive tuition fee.
There is grace in losing. There is no shame in accepting your fault.
Don’t blame yourself or any other person. If you did not learn your lesson from that losing experience then be ready to pay another tuition or learning fee.
Knowledge is free and wisdom is expensive.
Jan Erich V. Calderon is a Graduate Member of Registered Financial Planner Philippines (RFP). To learn more about personal-financial planning, attend the 90th RFP program this June 2021. To inquire, e-mail [email protected] or text at 0917-6248110.
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