When it comes to your personal life, you don’t want to be on the receiving end of a crowdfunding campaign because if you’re turning to GoFundMe or YouCaring, it means your house has burned down, you have cancer or your dog has died.

We regularly see these campaigns pop up in our social feeds and for the most part, we believe them because they’re our friends, they’re in need and we trust them so, of course, we pitch in.

However, some people use crowdfunding to fleece you. By now, you’ve probably heard of the couple from New Jersey who teamed up with a homeless man to raise over $400,000. The campaign was a scam, the cash was split and now these crooks are facing some serious consequences in court. Ugh.

We shouldn’t need to write this article, but some people suck and they’re out there duping us. Here’s how to spot them.

This should be obvious, but do not give money to people you do not know or do not at least tangentially know. It never hurts to scroll through the donor list to see if you recognize any of your friends or acquaintances there. If you do and have questions, reach out to them before you reach deep into your wallet.

What about victims of natural disasters? Offer your money to emergency funds run by non-profit organizations. Anyone can create a crowdfunding campaign, but in times of crisis many platforms create verified campaigns.

If the objective of the campaign is unclear, do not donate. We’ve all come across campaigns that are strangely worded or lack enough specifics to piece together a plausible story. If it feels like a Nigerian Prince is the campaign administrator, close the tab.

If a campaign’s photo looks fishy, do a reverse image search on Google to help validate that fishy feeling. If the search yields a lot of results for the photo, scammers have stolen it and are using it to tug at your heartstrings.

Most campaigns run for a very short amount of time, typically a couple of weeks and rarely more than a month. While there is generally a final social push to get to an unmet goal, there are rarely open-ended campaigns. Again, if the goal is unclear or out-of-reach, move on.

We’ve all seen campaigns that are truly gut-wrenching – deaths of loved ones, fights with cancer, entire villages wiped out. As with the case of the three jerks from New Jersey, if it feels too good to be true, it probably is. While some sites may be able to reimburse your donation, others won’t and nothing feels worse than falling for a scam AND losing your money.

And so, dear friends, this is why we at The American Genius almost never, ever write about crowdfunded projects. We care about you and we want you to use your money to help your real friends, fund YOUR next project or pay off your student loans.

As an entrepreneur, it’s always helpful to have multiple streams of income. This allows you to remain afloat, even when one source of money dries up. And while some view it as risky, trading futures yields significant upside that simply can’t be replicated by other hustles and investments.

What is futures trading?

A futures contract is basically an agreement to buy or sell a physical asset on a future date at a specified and agreed-upon price. Futures contracts are commonly attached to things like oil, gold, silver, coffee, and even orange juice.

“Futures contracts are standardized agreements that typically trade on an exchange,” NerdWallet explains. “One party agrees to buy a given quantity of securities or a commodity, and take delivery on a certain date. The selling party to the contract agrees to provide it.”

Farmers often use futures contracts to offset risk that could come from sudden price corrections in their produce. Airline companies may use it to avoid unexpected increases in jet fuel prices (while fuel distributors use it to ensure guaranteed demand at a later date).

But futures trading isn’t just for businesses. There are also speculators and investors who use futures contracts as financial investments.

As NerdWallet mentions, “These types of traders can buy and sell the futures contract, with no intention of taking delivery of the underlying commodity; they’re just in the market to wager on price movements.”

Within the context of this article, this is the type of futures trading you would be doing. You don’t have to have any interest in the actual underlying commodity. You’re looking for price movements that can be cashed in on.

And if you do it well enough, you can potentially make thousands of dollars per month with relatively minimal upfront capital investment.

Making futures trading a viable side hustle

Despite what some may tell you, trading futures is neither easy nor passive. It requires knowledge, patience, and strategic execution. However, it does provide realistic opportunities for significant gains. And as an entrepreneur with other projects in the works, it’s a viable option for making supplemental income on the side.

But in order to be successful, you’ll need to do the following:

1. Learn the basics.

Trading futures is simple in theory, yet complex in practice. It’s imperative that you don’t move too quickly. Grasp the fundamental building blocks of what futures are and how you trade futures contracts before trying your hand at the process.

It’s worth noting that there are futures trading simulation platforms that can be used to test out strategies and figure out how things work without risking your money. It’s highly recommended that you use one of these before proceeding.

2. Find a futures broker.

An inexperienced trader shouldn’t attempt to trade futures without the help and guidance of someone more experienced. It’s recommended that you find a futures broker, who can supply you with the technologies and resources you need to make educated trades.

“The right broker provides the digital tools necessary to seamlessly research, customize and execute trades and monitor market activity,” RJO Futures explains. “You’ll want access to fast price updates, the latest breaking developments, market-leading research and all of the technical and statistical data needed to make informed trades.”

With a futures broker, you’re still in charge of making moves. You simply gain access to insights that help you make smarter decisions. This is the perfect blend of guidance and autonomy.

3. Always use stops

As you become educated on futures trading, you’ll learn all about stops. These are boundaries you put on your trades that prevent you from losing excessive amounts of money. No matter how smart and skilled you become at trading futures contracts, make sure you always use stops.

4. Diving into futures trading

Trading futures isn’t for everyone. However, as an entrepreneur, you already have some of the characteristics and skills that are required to be successful in this arena. By tapping into your ambition, curiosity, and willingness to stomach risk, you’ll find that there’s a massive opportunity to generate supplemental income without major downside.

Now’s the time to learn about the process so you can get started sooner rather than later.

If you’ve ever felt like a fraud when it comes to your success, you’re not alone. Impostor syndrome is recognized as a “a psychological pattern in which an individual doubts their accomplishments.”

Typically, impostor syndrome is discussed as it pertains to your career, but it can manifest in other areas, like with finances.

Financial impostor syndrome has many components. You might feel as if you are bad with money and can’t be any different. Maybe you’ve made some bad decisions in the past.

You let these mistakes define your financial future.

Or maybe you dwell on the endless Instagram posts from people in your industry that depict the glamour of their financial successes (not knowing that they don’t own that jet, their client rented it for the weekend, or that they have a Ferrari but are potentially hiding it from being repossessed).

Some people believe money is bad or that they don’t deserve financial stability. Especially freelancers and entrepreneurs.

Alternatively, you may have money in the bank, but feel like a fake or fraud for earning it. You might think it was just luck that you have any resources, rather than believing in your own capabilities.

Financial impostor syndrome keeps you from reaching your potential.

Most people who have impostor syndrome also have low self-confidence and fear that they’ll fail. This can self-sabotage success. Instead of taking initiative and making positive changes, someone with impostor syndrome may bury themselves in work and avoid taking on extra responsibilities that could prove themselves.

When it comes to money, you might think that you can’t make changes, so why try? This type of thinking limits you.

Overcoming financial impostor syndrome isn’t going to happen overnight, but it is possible with some work.

1. Talk about it. You have to look at the reality of your situation versus your perception. Work with a mentor or mental health professional who can help you get information about impostor syndrome and help you manage your symptoms. You may want to consider getting a financial coach or manager.

2. Make a list of your accomplishments and successes. Celebrate your achievements. Learn to recognize what you contributed to your successes.

3. Create a new script for times when you feel like a failure. “I can improve my finances.” “I am able to stick to my budget.” I deserve financial freedom.”

4. Change your habits. Take small steps towards financial success. Spend cash only. Automate your savings and your bills. Cut up credit cards. Learn your strengths and weaknesses. Stick to your budget.

Additionally, you must forgive yourself for past mistakes.

Everyone has at least one or two regrets when it comes to their money. We don’t always see those mistakes, because we only hear about the person’s success. If you can’t learn to forgive yourself, you restrict your ability to make changes. Blame and shame never help anyone change behavior.

Make a plan to change your financial impostor syndrome. No matter what you’ve done in the past, you can start making small changes to your financial situation to find a way out. You deserve it.