aja8888
Moderator Emeritus
.......or,,,,,what is a good book or knowledge base for educating a young and "very trustful" family member how to recognize and avoid getting scammed by unscrupulous salespeople, scam artists, internet fraudsters, etc. ??
Historical scams included, but may have not been limited to:
1. Getting sucked in to gym memberships without reading the fine print on how to cancel,
2. Allowing merchants to have access to a bank account to periodically withdraw money for payments,
3. Buying "extended warranties" (aka, very expensive insurance) on inexpensive goods that come with the manufacturer's warranty,
4. Allowing merchants to withdraw funds from a credit/debit card for repeated purchases (like the Proactive face cream/treatment "membership"),
5. Letting car repair shops fix "whatever it needs" ,
6. Sending money to charities that send you mailings...,
7. etc.
This female. adult, single, working (and college educated) person needs an education. Bad experiences don't seem to burn into the brain. Seems like she believes (and trusts) everyone she meets in a sales pitch setting. The family is not sure if this should be done in stages (topic at a time) or just a plain intervention with a few of us. I would like to start with a simple to read, factual and hard hitting book.
The way she is managing money is not a path to ER or FI success, although those goals are pretty far away in this case.
Thanks for any input you may contribute.
Historical scams included, but may have not been limited to:
1. Getting sucked in to gym memberships without reading the fine print on how to cancel,
2. Allowing merchants to have access to a bank account to periodically withdraw money for payments,
3. Buying "extended warranties" (aka, very expensive insurance) on inexpensive goods that come with the manufacturer's warranty,
4. Allowing merchants to withdraw funds from a credit/debit card for repeated purchases (like the Proactive face cream/treatment "membership"),
5. Letting car repair shops fix "whatever it needs" ,
6. Sending money to charities that send you mailings...,
7. etc.
This female. adult, single, working (and college educated) person needs an education. Bad experiences don't seem to burn into the brain. Seems like she believes (and trusts) everyone she meets in a sales pitch setting. The family is not sure if this should be done in stages (topic at a time) or just a plain intervention with a few of us. I would like to start with a simple to read, factual and hard hitting book.
The way she is managing money is not a path to ER or FI success, although those goals are pretty far away in this case.
Thanks for any input you may contribute.