Do you need to be able to fix your credit score and pay less income taxes?
Not really...
But if I wanted to I could go to Google and learn to do it for free.
This article might really ruffle some feathers, yet in this truthful myEcon review, I'm going to dive deep into exactly what this company really is, what exactly you get if you become a member, and if it's really worth it to shell out your hard earned money on this business.
Firstly (as you already know from the title), I would recommend that you DON'T sign up for this company. Now if you would like to find out exactly why then continue reading.
myEcon PROS
- The training
Before we get into the weird and upsetting specifics of the company, let's discuss what is actually good about it: the training.
Nonetheless, I do still find it suspicious that the only proof this company is the training for their opportunity. Shouldn't a benefit of the company be it's actual product? Or maybe it's sales system?
Anyways the training in myEcon is fairly decent. Obviously, you would be expecting it to be if you are spending money merely to learn to earn money on the internet.
I've talked with a lot of people regarding the training and also I've looked at it myself. The basic consensus together with my personal opinion are that it is actually helpful and useful.
But, the thing I have to note is that: a lot of people are not paying for internet marketing training. They're paying to learn to fix their credit rating. This is the main marketing pitch of this company. So you really should be on red alert that the only pro about myEcon is their recruiting training.
Furthermore, I have a ton of online marketing training that I share for FREE. Not some basic make posts on Facebook stuff, but actual techniques to get a lot more leads and sales in ANY business. So yes, myEcon's training is great, but why pay every month for it when you can get the same level of training for free?
myE- CONS
Here is what is terribly wrong with myEcon:
- travel booking, nutrition items, and credit monitoring is NOT included in your membership
- travel discounts are a joke
- cashback mall is a joke
- roadside assistance is terrible
- the cash flow manager is pointless
- the comp plan isn't made clear from the beginning
- the comp plan doesn't pay you that well
The cons of myEcon are so obvious to me that I find it unbelievable that people are even signing up. It is incredible to me that people continue joining MLM companies to begin with, but this one, especially, is quite clear it's silly.
Here's what the back-office looks like for myEcon:
Upsells
First of all, the upsells.
Maybe it's just me, but I'd think that if I was forking over nearly $40 each month to improve my credit rating, I'd get credit monitoring included in that program...
...but it's not.
You need to pay extra for credit monitoring, travel booking, and their nutrition supplements. And I find it funny that a credit repair company would not include credit monitoring in their membership whilst also selling coffee and dietary supplements.
Travel Deals? Where? Oh, There
To start, the travel discounts. Before I even proceed any further, I'll simply show you what happens when you click 'discount travel' in the myEcon member's area:
Did you get that? Their supposed travel discounts is just a hyperlink to priceline.com. You're kidding, right? Who would spend nearly $40 dollars every month for travel discounts via priceline when you can simply head to priceline.com for free?
You just saved almost $40 this month. How does it feel?
Let's continue.
Cash back Mall...I've Seen This Somewhere Before...
An additional "benefit" of your myEcon subscription is that you get cash back on a number of your purchases at various places.
Here's what occurs when you head over to myEcon's cashback mall:
Excuse the grainy image. Allow me to clarify what this is.
MyEcon's Cash back Mall is essentially ebates. Check it out:
Except...
...ebates costs nothing, so how is this a benefit of a myEcon membership? The same as with priceline, why would you pay money for something which is 100% free and is not difficult to find?
Roadside Assistance...Always Be Sure To Break Down VERY Close To Your Home
Coincidentally, myEcon provides roadside assistance, similiar to how Motor Club of America does. Interestingly enough, since many people in MCA jumped ship to board myEcon.
What is really upsetting though, is this roadside assistance that you receive with myEcon only will tow you a maximum 15 miles.
That's correct. fifteen miles.
So in case you might be looking to take advantage of this invaluable perk when you pay to sign up with myEcon, do yourself a favor and make sure you break down close to home, otherwise you probably will not need this myEcon perk!
Cash flow Manager...Ever Heard Of Google Play?
Yet another "benefit" of your subscription is that you will get access to their cash flow manager.
I admit, all people should manage their cashflow if they have a business or not. It truly is good to know where your hard earned money is coming from as well as going to.
But...
...this feature of the myEcon membership can already be found absolutely free elsewhere. If you simply head over to Google Play and type in "money manager" or maybe "budget app" you will get the same or even better quality apps to keep track of your income and expenses free of charge.
Here's what I saw:
I wouldn't suggest typing in "cashflow manager" because then myEcon's app shows up and I'm pretty sure you will have to pay them for that, exactly like all of these other amazing perks!
Make A Ton Of Money With MyEcon...If You Recruit A Lot
Before we discuss myEcon's pay plan, one thing to keep in mind is that this company isn't really straightforward with their compensation play. When one of their sales reps sends you to their business presentation, you do not really see how much you will earn.
I think that is very dissuasive if I'm searching for an opportunity to earn money on the internet.
One thing about myEcon that I said was good is their marketing training, so it strongly appears that their focus is not solely on providing a valuable product or service. As we've noticed, they've basically bundled low-value products that can be found free of charge on line into a home business opportunity.
Having said that, even after going through their training you will discover if you are unable to keep sponsoring people you will not earn much money.
To break it down, if you only recruit one person, you'll make about 5 - ten bucks monthly.
If you sponsor 2 people, about $20 monthly.
If you get to 3, you might get $35 from that 3rd person and you'll have the ability to earn money from the people that they sponsor.
You better hope you get to three. Understand when you do, despite the residual payments from people under you, you will need to recruit massively to make anything even close to a decent income.
I've found significantly better comp plans that pay you full commissions instantly and don't depend on recruiting.
But Don't You Want To Learn To Give Yourself A Raise & Save Money On Taxes?
Let's talk about a few of the pitches people give you to get you to join myEcon.
"...But you'll learn how to give your self a raise and pay a lot less taxes..."
The thing about this is that you can learn that information absolutely free online. As a matter of fact, a lot of the info that myEcon teaches you is basic stuff that I thought everyone knew.
For instance, do you want to earn more money every single paycheck you receive?
Sure, right?
MyEcon is going to teach you to that when you claim 2, 3, and so on. on your W-4, then you'll earn more money on your checks.
Cha-ching!
Not so fast...
That's cool and I am all for financial literacy. But that is basic freely available information you will find on the internet. So why would you pay myEcon to learn this so-called "income shifting"?
Just go to Google!
"But myEcon gives you tax benefits. You can write lots of items off because you have a business..."
Cha-ching!
Eh...not really.
You can do that with ANY business, not only myEcon. So this isn't even a unique myEcon feature that would validate my recurring monthly payments.
"But you learn to fix your credit score! That is very valuable! Everyone needs that"
Maybe.
However, you are able to fix your credit rating by researching that in Google as well. MyEcon isn't teaching anything new in this department.
In fact, they actually charge you extra if you would like credit monitoring. Isn't being aware what your credit score at any moment a key part of building up your credit rating?
Furthermore, most credit unions already offer you credit monitoring and fraud checks, therefore this is another so-called "benefit" that actually does not provide you any value at all.
MY CONCLUSION
Just save yourself the cash.
Even if you're seeing dollar signs with this company, there are actually way better companies with much better compensation plans that pay YOU DIRECTLY and that don't charge you month to month fees.
If you looking to fix your credit, go to Google, learn to reduce costs, start dropshipping, keep track of your payment due dates.
- If you want travel discounts, just go to priceline
- If you want cash back, pay ebates a visit
- If you want roadside assistance, save money with AAA
- If you want to take control of your cash flow from your phone, go to Google Play Store
- If you want coffee and weight loss supplements...
You should know where to get those without paying almost $40 every month!
There are many different ways to earn money online. You can drop ship, affiliate market, freelance, start a blog, etc. etc. I just think network marketing businesses are just ways to take money out of your pocket each month.
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