(Manage your money wisely)
UNFORTUNATELY, MANY individuals have been conned out of their hard-earned money, and at times, it is a result of poor money management skills. It is up to you to ensure that you look out for certain warning signals and protect yourself as best as possible from these scams. Here are certain measures you can take to make this scenario less likely to happen to you.
DO NOT BE AFRAID TO SAY NO
Do not allow yourself to be pressured into purchasing anything you aren't comfortable with. Say no to aggressive sales people, who push you to make a hasty decision without adequate time to think about it. In some cases this may be an indication that something shady is going on.
ASK FOR PROPER
IDENTIFICATION
As a precaution, verify that the salesperson is who they claim to be. If they are from a well-known company, you can call to verify that there is such an employee who works there. Remember that fraudulent business cards can be made, so this might not be adequate in verifying an individual's identity as a representative of a company.
GATHER YOUR INFORMATION
Ask all the questions you need to, and gather as much information about the investment or purchase as possible. Remember it's your money on the line, so you need to make well-informed decisions. If the salesperson seems irritated by all the questions you're asking, do not let this intimidate you or allow you to feel foolish, you have a right to all the answers you request that is relevant to your purchase.
If you're investing, for instance in a company, do your research on how well the company is doing. If you are consulting with an investment advisor on investment options, do your research on that individual to ensure that they are equipped with the expertise to convey such advice.
READ THE SMALL PRINT
Before signing contracts, ensure you read the entire document first. Know the entire cost of whatever you're purchasing or the sum of money you've committed to submitting, as well as any hidden cost (if any) in the agreement. Remember, whatever you sign is considered legally binding and may be admissible in court.
Protect yourself by limiting your personal information (this is relative to the type of business you're conducting). If you're conducting business on the Internet or with a company, read the privacy statement to ensure your personal information is protected.
COLLECT A RECEIPT
Based on the item you've purchased ask for a receipt. If you buy a car for instance, enquire about the warranty as well. You will need this for damaged goods you're sold, to either get a refund, or get the item replaced.
So beware of money scams, protect your money by managing it wisely, placing it in well researched investments or capable managing hands.
Ask the sales people relevant questions, and be sure you're provided with adequate answers. Bear in mind, if it seems too good to be true, it probably is!
To further discuss investing and the many options we have available, contact DB&G at info@mydbg.com or toll free at 1-888-CALL DBG.
