So what the heck is the Cash Tracking System?
(Opinion UPDATE: Click here for the other side of the story)
I get approached nearly every day about the latest and greatest money making opportunities to hit the market. It’s AMAZING how many schemes are out there. You really have to be careful about how where you invest your money and your time.
So I received a call from a gal that found me online. She was very nice, courteous and had impressive personal communication skills. She asked if I would agree to commit 1 hour of my time to look at a presentation. She was incredibly passionate about her program, (although a little secretive) so I figured… “what the heck”…
I’ll check out the cash tracking system and see what it’s all about.
I’m writing this blog post so you can give yourself the quick details on this program without having to invest an entire hour of your time to get the information.
The first thing you’ll see in this presentation is an explanation of basic wealth creation principles. IE. Rich people invest in “ASSETS” that produce income. They also try to keep expenses from Liabilities low by eliminating purchases like cars, boats and other stuff purchased with credit. It’s in this way that rich people are able to compound their results by reinvesting their cash flow into more income
You’ll also be given a basic introduction to how rich people use leverage to create wealth.
If you’ve read “Rich Dad Poor Dad” by Robert Kyiosaki, you’ll learn nothing new from this part of the Cash Tracking System presentation.
It’s in the next part of the presentation where things took a turn for the worse. I’ve heard about “cash gifting” programs and have always wondered what they were. There has always been a bit of mystery for me with these programs as I never really understood what they entailed.
Now that I know… I personally, would prefer to stay away from them.
Cash gifting is apparently where 1 person talks another person into “gifting” them large sums of money. Basically this means you take the money, put it in an envelope and mail it the guy or gal who talked you into doing this.
What do you get for the cash you “gifted”. Nothing. Absolutely nothing! Oh… wait… you do get something… the right to try to convince someone else to send you some cash in the mail.
This is what the cash tracking system is all about. You talk someone into sending you cash without giving them anything in return. As they are successful in doing the same thing… you make money as it works on a 1-up compensation plan.
ARE THEY LEGAL
Cash gifting programs are apparently legal because you can’t stop someone from giving a cash gift. But if there is 1 very important lesson I’ve learned over the years it’s this: What’s legal isn’t always what’s right and what’s right isn’t always what’s legal.
Just because it’s legal doesn’t mean it’s a good thing.
Now that I know what cash gifting is, after having watched the cash tracking program presentation – I can safely say that I don’t like em’!
#1) I believe strongly that money should be a reward for value provided. Wealthy people, and I mean truly wealthy (both monetarily and spiritually wealthy) are committed to providing value to the world around them in exchange for the money they receive from the market place. Talking someone into sending you a $3,500 cash “gift” does not fit my description of “adding value”.
#2) People can get hurt here. When you talk someone into sending out a large chunk of cash without giving them anything in return… you’re asking for trouble. There will inevitably be people who aren’t able to convince others to send them the cash. What happens then? Innocent people get hurt.
They get left holding an empty bag. $500 – 3,500 out, nothing in and nothing to show. What a way to make a living.
Honestly my friend, you don’t need to watch an hour long presentation on the Cash Tracking system to know if it’s a scam or not.
If you like taking money from people without giving them anything in return. You may want to check it out.
PS – Please see the updated blog post I did on this topic after talking to more people about this program and thinking through some of the arguments I made in this post..