A 27-year-old girl woman knows that her mom and dad are the worst with their money. When she was just a child, her dad ended up gambling their entire life savings when he got interested in penny stocks.
He wound up losing $100,000 back in 2008, and they then had no choice but to all squeeze into a house with just 1 bedroom in it because that’s all they could afford after that loss.
Unfortunately, that was just the beginning of the end of her parents losing control of their finances.
“Then my mom fell for an MLM, and you can imagine what happened; they lost the down payment to the house they were saving for,” she explained.
“I begged them not to sign up for it since I saw it was clearly a scam and showed them evidence it was, and they just laughed at me and ignored me.”
“They lost about $28,000 from that. Then recently, they fall for a college signup scam and lost $32,000.”
This college scam promised to get her mom and dad a college loan via a private-style broker, but they could turn around and spend the loan on anything they desired.
She actually went with her mom and dad to meet with this broker, and she knew instantly that it was nothing but a scam.
Although she raised the alarm bell to her parents, they didn’t listen to her concerns at all. Instead, they went forward with it.