S4E1: Scams Are Nothing New

Season four is all about the various scams and frauds you need to be aware of while on your financial journey. In this season we will discuss scams, pyramid schemes, predatory practices and more. Today we’re talking about the origins and definitions of some of the most common scams we know of. Submit your question to be discussed on the podcast or a story, here.  Why should I care about scams? What are scams? The First Recorded Scam What are Ponzi Schemes?  Why are they called Ponzi Schemes? What is the difference between a Ponzi Scheme and Pyramid Scheme? What’s the difference between a Pyramid Scheme and a Multi-Level-Marketing Scheme? Predatory Lending Practices Romance Scams