Dec 13

How NOT to make money online

Reading Time: 4 mins

Here at MoneyMagpie, we love researching and writing about the latest trends and ways to earn money money for yourself and your family.

However, there are others out there who will try to trick you into paying for something, with the promise of making more money further down the line.

This can come in many different forms online as people set up new and improved ways of making money off YOU.

To help you avoid such risks, we have compiled some of the most popular tactics that people use to scam people out of money.


Learn how to become an ‘Influencer’ (for a BIG fee)

become an influencer scam

An ‘influencer’ is a person who has a large social media following and online presence.

These people basically spend all of their time curating their online appearance on Youtube, Instagram or Twitter and the life they live appears to be perfect.

This is because fashion, beauty and travel brands will pay them vast sums of money to wear their goods, use their products and visit their resorts so that they will share content about the brand on their online profile.

Which means it’s no surprise every man (or woman) and his (or her) dog, want to be an influencer themselves.

Unfortunately, a lot of the big influencers are all too aware of this and offer their followers the opportunity to take ‘online courses’ on how to become just like them.

These courses can cost over £500 yet offer nothing real in return.

At the end of the day, the influencer selling the course won’t want more competition for followers and brands!

If you want to be an influencer, DON’T pay somebody somebody for an online course, there are hunderds of free guides and handy advice online.


Trusting ‘Psychics’ to tell you your future

psychic scams

This is no matter of opinion. 

Nobody can see the future and people who claim to be psychic or able to speak to the dead are scammers and manipulate people into giving them money.

There are thousands who claim to have supernatural powers but not a single person is telling the truth (there is not a SHRED of evidence) and paying somebody to give you financial advice using ‘special powers’ may be the single best way you could waste your money.

Simply ask yourself, if somebody could see into the future, why wouldn’t they look at the lottery numbers? Or the results of a big horse race and win millions for themselves every day?

So, if you see an advert or are thinking about paying someone to tell you how to earn millions of your own, do yourself a favour and throw your money in the bin, because that would be a better use of it!


Make millions on the stock market

trading stocks scam

If you haven’t seen The Wolf of Wall Street, and all of the scenes in which traders sell penny stocks which are guaranteed to explode in value in no time, you should check it out on Youtube…

Though traders aren’t allowed to carry out such practices anymore, that doesn’t mean it has stopped happening, it’s simply changed.

Once more, people are using social media to connect with people who are desperate to make massive amounts of money with the least amount of effort.

By promising to use their ‘skills’ on the stock market, individuals will promise to spend other people’s money in the correct way and then return thousands back.

It’s simply not true and you won’t make any money by trusting this new kind of scam.

Your money will be taken and then a message will be sent a couple of days later, telling you that the market turned in an unexpected way and that volatility caused big losses so the money you sent has been lost.

That doesn’t mean we’re against investing, far from it, but you need to read reliable sources and be suspicious of any ‘get quick rich’ opportunities.


There are, of course, a huge amount of other ways people will try to get hold of your money and listing all of them would be impossible.

However, the key points to keep in mind are;

  • If it sounds too good to be true, it probably is
  • Never pay for something up-front which you aren’t sure about
  • Never provide all of your personal and financial information

If you would like to learn about more tricks and scams that people use, click on any of the articles below to learn more.



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