AFTER THE INITIAL SHOCK WEARS OFF : 3 THINGS TO DO AFTER BEING SCAMMED BY A PONZI SCHEME
I imagine that being scammed will leave you experiencing a roller coaster of emotions ranging from shock to disappointment. This might probably be the first scamming encounter for some, while for others, they have been duped ever so often that they know how to bounce back without much stress. This article is for everyone, but especially for those who have just had their premier encounter with a Ponzi scheme. They will in a small way contribute in assisting you to move past such a hefty financial blow.
- Come up with a Plan to Pay Your Debtors: This point applies to those who borrowed money from multiple (single) source(s) to partake in the Ponzi scheme. The worse thing you can do after experiencing first- hand how it feels to be scammed is to become a scammer.(click to share on facebook) How do you become a scammer? Not paying the people who loaned you money for your not so fruitful venture. You might have to sell some of your prized possessions in order to pay back your debt or in some cases, if you are fortunate, discuss a payment plan with the people you owe. No matter what, make it a point to fulfill your payment obligations. Remember that it is not their fault that you invested poorly. They were only trying to help so do not make them pay for your mistakes.
- Cut-Back on Spending: The last thing you want to do after losing so much money is to become a spendthrift, buying anything and everything you set your eyes on. I know you might want to go out and chill with the girls and you might even want to get those expensive pair of shoes that is way out of your budget at the moment. The question you should be asking yourself before any unnecessary spending is this: will this in any way help me recuperate the money I lost? If your answer is No, then it is not worth it. Not just yet. When you bounce back on your feet you can afford to splurge, but for now keep a firm padlock on your purses and wallets. Forget your sweet pleasures and focus on the essentials.
- Be taught by your Experience: This point cannot be emphasized enough. The worst thing you can do is to fall prey to yet another Ponzi scheme. Even if it seems like a better deal than the last, please do not be tempted to invest your hard earned or borrowed money into such a scheme ever again. Your experience should make you understand that the short cuts taken in the acquisition of money are riddled with more setbacks than you can ever imagine. I even encourage you to share your experience with others. By so doing you can save them the trouble of going through what you experienced.
AUTHOR
Rebecca Naa Yemoley Yemo has a Masters in International Studies from the North Carolina State University. She believes in using our voices as women to empower each other and runs a blog where she publishes fictional stories and articles about everyday life
