Blessing Loom, let’s start off by saying this is another investment plan that’s in the list of ‘not for me” right there beside day trading. I have been approached by a few people asking me to join their “Loom” both in-person and via social media, damn you facebook, and my reply is always the same, no thanks “not for me”. As always I am not a professional financial advisor or an investment guru, but I always go with my gut feeling when it comes to certain business and investment ideas. Has my gut ever failed me? Yes, but my gut has been correct also, this blessing loom idea just seems off.
What is Blessing loom?
A Blessing Loom offers the chance to get $800 for a one-time investment/payment of $100 using a PayPal account. Your name fills a space outside the loom, and you’re told to recruit others to fill in the other spaces. Once you advance and it’s your turn to be in the center, you receive the money. They are many different variations which offer bigger payouts also.
You are being silly, you don’t like making money, don’t try to jump on the train when you see my results, are few of the comments I get when I decline the loom invites, there are others which I will not repeat. It comes down to the allure of the quick gains possibility, which is tempting but too often quick gains results in quicker losses.
If you see it as a possible way to make money go right ahead, especially if it’s money you can afford to lose. In the case of the pay $100 get $800, how does my $100 generate $700? The answer is always, by getting other people to sign up. But I am not a good salesperson, what if I can’t get people to sign up, do I still get paid? Is there a time frame in which I should expect my returns? Is this even legal? Just a few of the questions I ask when face with blessing loom pitch.
Real or Scam?
As always there are mixed views on programs like Blessing Loom, with some people standing by it, with proof of profits and on the other side of the fence some screaming scam, warning all to stay away. I am neither qualified nor quantified to say whether the “scammers” are out or if this is a foolproof path to riches. Whatever it is I will be watching from the sideline.
What are some of the views on Blessing Loom maybe more insight could get me to change my mind or lead me further away………