Somebody is always trying to separate you from your wallet. That truth is as old as the marketplace, and it changes costumes every generation. Today it shows up as a text that looks like it came from your boss, a letter dressed up to look like a tax notice, or a slick website offering student loan forgiveness for a small application fee.

In this episode I walk through the three triggers scammers pull on you: emotion, formality, and greed. Emotion makes you feel like you’re part of something bigger. Formality makes the pitch look official, with the paperwork and the letterhead to match. Greed is the biggest of the three, and it has fooled sophisticated investors on Wall Street just as easily as good people in the pews on Sunday morning.

I’m the financial literacy guy, and I’ve still been taken. I tell the story of an art seller overseas who was so patient and so smooth that all I could do at the end was tip my hat. I also share why I call timeshares a return on fun and not a return on investment, and I answer a listener who wants to know whether to pay the bills first or start investing.

Here’s a simple habit to start with. Look closely at the email address, the phone number, and the domain. A real government site ends in .gov. And never make a money decision while your emotions are doing the driving, because an emotional decision is almost always a bad one. If it looks too good to be true, it normally is.

🎧 Listen now — wherever you get your podcasts, or simply click below.

Prefer to watch? The full episode is on YouTube.