Cookies are used for the best experience on my website.

Accept Cookie Policy

No internet detected

Check your connection and try again.

Logo Image

No match found

Buy a coffee

I launched this blog in 1995. Since then, we have published 1603 articles. It's all free and means a lot of work in my spare time. I enjoy sharing knowledge and experiences with you.

Your support

Have you learned something new by reading, listening, or watching my content? With your help, I can spend enough time to keep publishing great content in the future.

Or, select an option below:

A small slice of my data processing time each month

It's ongoing work running this site and what's really great is ongoing support. Here's a sense of what goes into this site: research topics for discussion. Manage the Tech stuff: website, SEO, graphics, email, back-end servers, DNS routing, edge servers. Create advertisements and load the campaigns in Google Ads. Manage the social media forums (Facebook, Reddit, Twitter). Write updates to the blog. Keep GitHub up-to-date.

$4.50 — A large cappuccino at my local

Things just work better with coffee! I like to take the kids to school then grab a cappuccino from my local on the way home before beginning the things that take mental energy.

$8.99 — A month of Netflix for some quiet nights in

A lot of the work on this happens after hours when I should be relaxing on the couch. Help me make it so and I promise to keep off the devices for a bit!

$11.50 — Fund a month of email delivery

This site sends out thousands of emails every month. For that volume and to ensure deliverability, I need to pay MailChimp.

$20 — Pay for one month of AWS storage fees

Websites are not free. The storage alone takes some cash. If you are willing to lighten the burden, we can keep this site up online.

$30 — One hour's pay for a graphics artist

Art doesn't create itself without a hand to guide it. I can't draw, so I need to pay others to help.

$45 — Pay a full-stack web developer for one hour

Much of the work on this site happens on weekends which means giving up time with the kids. Help me pay the developers so I can give my kids more time.

Industry That Thrives Off Keeping People Poor

These scams exploit and keep people in the never-ending ⋯


Chris DUNN

  • 517

  • 2770

  • 10

  • 0

  • 0

There’s an entire industry that THRIVES off keeping people POOR…

It’s literally designed to keep people in the cycle of poverty, forever.

Here are the top 10 Money-Destroying Scams that people fall prey to (and how to avoid them).

Buy-here-pay-here car lots 🔗

They have a “sell, repo, sell again” strategy that makes them 3x-5x the car’s value.

They know selling a car with an astronomical interest rate will cause many people to default, so they just repossess the vehicle and sell it again.

Overdraft fees 🔗

Banks charge over $15 BILLION a year in overdraft fees.

These are like an extra penalty for being poor, and perpetuates the cycle of poverty.

If you’re low on cash, find a bank that doesn’t have overdraft fees.

Payday loans 🔗

Over 12 million Americans use payday loans…

And the average interest rate for a payday loan is 391%!

Over 80% of loans are rolled over or renewed within 2 weeks.

Once someone is in the cycle of payday loans, it’s almost impossible to break out.

Rent-to-own stores 🔗

The FTC found that consumers paid an average of $1,500 for products with a retail price of $500!

They make money by making you sign confusing terms.

Instead, try finding good quality items from second-hand stores, garage sales, and online marketplaces.

High Interest Credit Cards 🔗

The average credit card interest rate today is 20.37%

A minimum 1% payment on $10k will take 5 years to pay off and cost $5,902 in interest.

If you can’t pay it off in full each month, don’t use credit cards.

Pawn shops 🔗

The average interest rate of pawn shop loans is a whopping 200%!

Their lowball offers and loan-shark pricing perpetuates the cycle of debt and poverty.

Instead of pawning items, try selling them online or at a yard sale.

Debt collectors 🔗

They buy debts for pennies on the $, then try to collect the full amount.

They harass, threaten fake legal action, impersonate law enforcement, and lie about their powers.

Never use your primary email, phone, or mailing address with creditors.

Tax refund loans 🔗

High fees and interest rates eat away at your refund.

The company deducts fees before giving the tax refund to you, making it difficult to know the true cost of the loan.

File your taxes early and opt for direct deposit to avoid waiting for a loan.

Subprime lenders 🔗

From consumer credit to auto loans to mortgages, subprime lenders charge exorbitant interest rates and fees to people with bad credit scores.

Building your credit score BEFORE borrowing will save you thousands!

Money transfer services 🔗

These companies charge high fees, scammy forex rates, and hidden fees.

Western Union paid a fine of $586 MILLION for their part in fraud and money laundering.

Use Bitcoin and decentralized crypto-assets instead of centralized money transfer scams.

Never-ending cycle 🔗

These scams exploit and keep people in the never-ending cycle of poverty.

It’s hard to escape once you get sucked into this ecosystem.

This is why it’s VITAL that we:

  • Invest early and often
  • Increase cash flow
  • Minimize taxes
  • Build wealth

This license allows reusers to distribute, remix, adapt, and build upon the material in any medium or format, so long as attribution is given to the creator. The license allows for commercial use. If you remix, adapt, or build upon the material, you must license the modified material under identical terms.

  • Author:

    Chris DUNN

  • Published: