JACKSONVILLE, Fla. – It is Financial Literacy Month, and we are helping you learn to earn, manage and save your money.
A big part of that involves avoiding scams, like a sports betting scam on social media that authorities have been warning about.
They are also warning about common job and money-making scams making the rounds.
The most common job scams involve fake job ads, typically for mystery shoppers, personal assistants or caregivers.
If you apply, they might send you a check, tell you to deposit or cash it, keep some and send the rest of the money to someone else
But that check is fake and by the time the bank realizes it, the scammer has your money.
And the bank will want you to repay the money you withdrew.
You’ll also want to be cautious of business opportunity scams or pyramid schemes.
They look like legitimate businesses and often sell real products, but they’re scams.
Your income is based on how many people you recruit not how much product you sell.
Eventually, most distributors can’t sell enough inventory or recruit enough people to make money and they lose everything they invested.
The Federal Traded Commission also warns about business coaching scams.
They offer online business coaching programs that promise guaranteed income with no experience and large returns.
Some terms that should be red flags are “proven system,” “proven method” and “experts” that teach you to build a successful business.
But after you invest thousands in the coaching program, you learn the scammers lied and you’re left with nothing.
If you lose money to a job or money-making scam, report it to the FTC at ReportFraud.FTC.gov.