Moneylife Foundation continues its successful series of seminars on financial literacy. On Saturday, 22nd October, the audience at a well-attended workshop was informed on how to avoid investments like chain-marketing schemes and how to invest money in a manner that would give maximum returns

On Saturday, 22nd October, Moneylife Foundation conducted yet another successful, informative and highly interactive seminar on ‘How to be safe and smart with your money’. The event, which again witnessed a packed audience, was held at the Moneylife Knowledge Centre at Dadar, Mumbai.

Sucheta Dalal, Managing Editor of Moneylife, told the audience to stay away from schemes that promise extraordinary returns. Ms Dalal explained the various schemes that keep mushrooming all across the country, which are floated only to loot the innocent and gullible investing public. She elaborated on the various types of schemes like pyramid schemes, multi-level-marketing (MLM) schemes and Ponzi schemes.

Despite these fraudulent activities cropping up again and again, the regulators have done little to curb these schemes. However, police authorities in a few southern states are now taking action against such frauds. Ms Dalal explained that these schemes are targeted at almost all strata of society, and often, even professionals like doctors and senior bank officials fall for such bogus ‘investment’ plans. Moneylife magazine has been constantly highlighting and reporting on such frauds, so that they can be nipped in the bud before they go on to loot thousands of people.

Debashis Basu, Editor, Moneylife, spelt out the various ways in which one can be smart with money—and presented to the audience the best ways in which one can multiply returns. Many people keep their money idle in a bank savings account because they do not take out the time to invest in platforms that would give them handsome returns. Mr Basu also explained the power of compounding, which helps to deliver maximum returns to an investor.

The seminar was followed by a lively Q&A session.

This seminar on ‘How to be safe and smart with your money’ has been conducted by Moneylife Foundation in various locations across the country. If you have not become a member of the Foundation yet, please visit www.mlfoundation.in for more details. Membership is free of cost, and Moneylife Foundation members also get access to such informative seminars and can utilise the state-of-the-art facilities at the Moneylife Knowledge Centre.