7 Warning Signs of a Ponzi Scheme & Effective Ways to Tackle Its
Phir Hera Pheri is one of the best examples of a Ponzi scheme. In this movie, Bipasha Basu aka Anuradha lures Akshay Kumar aka Raju to invest in “Laxmi Chit Fund” by promising to double his wealth in just 21 days. Indubitably, this movie shows the blend of humor and caution in a fascinating manner.
While investing money, investors expect to go into a legitimate company that delivers a real product or service to generate profits. Nevertheless, some deceitful people deceive investors by investing their money in non-existent companies or schemes with the intention of stealing it. This activity is understood as a Ponzi scheme. Derived after Charles Ponzi, who became notorious for this scheme in the early 20th century, this fraud depends on a constant stream of new investors to sustain itself. YPay returns with another insightful blog! Get ready to dive in to discover how these schemes operate and discover effective strategies to safeguard yourself from scams. Your financial safety begins here.
10 Significant Benefits of Teaching Financial Literacy to Children & Transform their Future
In the formal education ecosystem, financial literacy has materialized as a buzzword for all valid reasons. It is a bitter truth that the financial literacy rate is lower in Indian adults than in adults of other developed countries such as the USA, UK, and Singapore. Surveys disclose that only 27% of India’s population is financially literate. Moreover, only 16.7% of Indian students maintain a fundamental understanding of finance and money management.In the formal education ecosystem, financial literacy has materialized as a buzzword for all valid reasons. It is a bitter truth that the financial literacy rate is lower in Indian adults than in adults of other developed countries such as the USA, UK, and Singapore. Surveys disclose that only 27% of India’s population is financially literate. Moreover, only 16.7% of Indian students maintain a fundamental understanding of finance and money management.
Projections declare that India will remain to be the fastest-growing economy in the next few years. Nevertheless, in the absence of proper financial knowledge, the nation’s residents might not be able to reap the benefits of this astronomical financial opportunity. Consequently, YPay is devoted to empowering the youth of Bharat with essential financial literacy, determined to assemble a more knowledgeable and financially savvy nation.
