I expose REAL reported data on the success of MLM's. Plus I debunk some myths behind pyramid schemes and MLMs.

A big part of personal finances is making sure we don't LOSE a lot of money. 98% of participants in MLMs make less than minimum wage.

In case you're keeping score that means joining an MLM means you're essentially guaranteed to lose all the money you put into an MLM.

What MLM or pyramid scheme have you been recruited to? Do you have any experience inside one of these? 

Let me know by commenting on my Youtube Channel, or DM'ing me on Instagram (links below).

⏯ Mediocre Money YouTube:

https://www.youtube.com/channel/UCzW4mt4zK7WtCsZuA9jn0WQ

📸 My IG:

@MediocreMoney

https://www.instagram.com/mediocremoney/

🎶 TikTok:

@MediocreMoney

💸 Get $50 of free trades with Questrade:

http://mediocremoney.com/questrade-50/

MUSIC:

“Songs From the Vault”

Recorded at WISTIA HQ in Cambridge, MA

Written, arranged and performed by Dan Mills

Engineered, mixed, and mastered by Dan Mills

Album art by Michelle Fine

All songs from ‘Songs From The Vault’ are permitted for web use only. Film and broadcast television strictly prohibited. Contact [email protected] with questions.

Sources:

https://www.aarp.org/content/dam/aarp/aarp_foundation/2018/pdf/AARP%20Foundation%20MLM%20Research%20Study%20Report%2010.8.18.pdf

https://www.prnewswire.com/news-releases/new-survey-reveals-73-percent-of-people-who-participate-in-network-marketing-opportunities-lose-money-or-make-no-money-300727716.html

https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/04221.html

https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/00518.html

Have you lost you job? I also lost my job once, and this is how you can turn losing your job into one of the BIGGEST opportunities in your lifetime.

I'll tell you a bit about my story when I lost MY job. And how I survived through it, then turned it into an opportunity to capitalize off.

When it comes to personal finance it's important to have diverse income streams. The reason why I recommend doing this, is because it minimizes the risk of losing any income. Lose a job? Don't worry your rental income can pay for your lifestyle. Lose renters? At least you have a side gig.  But besides trying to figure out how to survive after losing your job. It's the utmost importance that you think about YOUR FUTURE. And your future career. 

Decide where and what you want to do, network on linked in, get new online certifications and start carving out the path to your NEW career, and NEW life. Come out of this BETTER than you were before.

Mediocre Money YouTube:

https://www.youtube.com/channel/UCzW4mt4zK7WtCsZuA9jn0WQ

My IG:

@MediocreMoney

https://www.instagram.com/mediocremoney/

TikTok:

@MediocreMoney

Get $50 of free trades with Questrade:

http://mediocremoney.com/questrade-50/

Ever wonder how to make an extra $500 a month? Well in this episode I'm going to show you how I'm doing just that. I'll also be walking you through my step by step process to help you start earning some extra income on the side.

Mediocre Money created this financial independence podcast to help educate and provide advice, strategies, and research to help you become financially free.

Join the community by subscribing to the podcast or check me out here:

Personal Finance Blog

Personal Finance YouTube Channel

I (finally) opened my first Wealth Simple trading account and I was surprised at how intuitive their app is.

However Wealth Simple made some huge mistakes in my opinion that gives me a scammy big bank feeling.

I had some issues signing up with the account, apparently I already had one. Then I couldn't continue my signup process in their app, it had to be chrome or another internet browser.

I had to fill out the same 15 minutes of questions twice, once to open my account and a second time to open my TFSA.

But the biggest issue I had with them was management fees! Listen to the podcast to learn what I didn't like about this VERY important aspect of investing.

Please subscribe to the podcast

Subscribe to my personal finance youtube channel.

And read my financial independence blog for unique strategies to live a wealthy life.  

Is it possible to become a millionaire with a salary of 50,000 per year?

Short answer is yes. But how? Listen now to dive into the details surrounding what you need to do in order to achieve the millionaire status yourself.

Resources:

The impact of low management fees on your investment returns

https://www.mediocremoney.com/investing-tips/management-fee-comparison/ 

DM me on instagram

https://www.instagram.com/mediocremoney/

Knowing the wealth equation and fueling your wealth feedback loop is the key to becoming rich. Millionaires and wealthy people overall do this very well.

Savings are the fuel to creating positive wealth feedback loops. The more money you can spend on appreciating assets or income producing assets the more wealth potential you'll have.

DM me on Instagram

Read this post on Mediocre Money Blog https://www.mediocremoney.com/finance-tips/the-wealth-equation/

See what a wealth feedback loop looks like https://www.mediocremoney.com/finance-tips/the-wealth-equation/#loop

Welcome to the financial independence podcast from Mediocre Money.

Please subscribe to learn about personal finances, and strategies on how to be financially independent.