Are E-Courses A Scam? Be Careful Paying Lots Of Money For Online Courses Thumbnail

Given everything can now be learned online for free, are e-courses a scam? Depending on the price and the quality of the content, I say yes.

As content creators, one of the ways to make lots of money online is by offering an e-course. However, what if you are charging $1,000, $2,000, $3,000, $5,000 for an e-course? That amount of money seems usurious.

A lot of e-course creators have said they are creating these courses to help people make more money, save more money, and start their businesses. However, if they really wanted to help people, why not charge a more affordable price instead?

Here’s one perspective about e-courses and whether they are a scam by someone who paid $3,888 for one. He regrets purchasing the e-course.

Why E-Courses That Charge Thousands Of Dollars Are A Scam

I took “XYZ e-course” and I deeply believe it was the biggest waste of money I’ve ever spent in my entire life. I deeply regret it and think it was worthless.

NAME (e-course creator) talks a lot, but says very little. He is extremely narcissistic. He has a group of followers who thinks he’s god and will follow him to the end of the earth.

He talks a lot about himself and his rich life. He starts his videos by talking down someone down, “You know that guy, who does that thing? I hate that guy!” He thinks he’s Donald Trump and Seinfeld.

There is a ton of worthless filler information where he tries to be funny. But it’s not valuable information. I ended the class feeling depressed. Like I’d been scammed out of a lot of money.

Expensive E-Courses Take Advantage Of The Vulnerable

If you’re charging $100 – $500 for an e-course, that’s fine. It’s a reasonable fee to charge for potentially valuable information. You put in the work to create your course and you feel it adds even more value than the cost. It is your right to create.

But if you’re charging thousands of dollars for an e-course, you could seriously hurt the buyer financially. The buyer might be set back for months or even years.

Every creator on the internet wants to make at least some money from the work they do. But please be aware that some people who take your e-course or ask you for advice are some of the most vulnerable people.

And when you are highly vulnerable, you tend to NOT think as rationally about your decisions and your money. The more desperate you are for help, the more you are willing to pay.

I have had people e-mail me saying they will pay anything to speak to me about a bad relationship or getting out of a bad situation at work by negotiating a severance. I don’t accept their money, but I at least answer their question and refer them to a post about their problem if I have one. The vast majority of the time, they respond with relief as most or all of their questions are answered.

Sadly, many e-course creators know about desperate buyers and take full advantage. That’s the business realty of some content creators.

Instead of continuing to provide valuable content for free, the temptation is to create an e-course with information that can be found for free, and package it into something that seems very valuable through expert branding and marketing.

Marketing Is The Key To Riches

There are people who are not rich selling e-courses on how to get rich. On TikTok, there are plenty of people sharing investing advice with little investing experience.

The key is expert marketing that takes advantage of people’s emotions. Whether it’s the Fear Of Missing Out or playing into someone’s delusions, expert marketers are able to make vulnerable people part with thousands of dollars through their e-courses.

Example Of A Scammy E-Course Landing Page

Example Of A Scammy E-Course Landing Page

First of all, there is no way this investing course is worth $27,276. The e-course creator anchored high to make it seem like $1,997 is a good deal.

Second, the e-course creator try to make the payment cheaper through installment plants. Smart on them.

Finally, the note that Gloria from Penalolen just signed up 1 minute ago is fake. It’s a lie to make the e-course seem legit to try to get you to buy. This is a really scammy tactic.

A Fool And His Money Are Soon Parted

The make-money-online crowd is still the wild Wild West. The longer I’m around, the more amazed I am by some of the tactics people use to make money online.

Please be aware. At least make sure there is a money-back guarantee before you spend thousands of dollars on an e-course.

Try to see if you can find the information online for free first. Then, look for e-courses that are reasonable priced. If you look hard enough, you can find all the information you need without breaking the bank.

And if you are an e-course creator, consider offering the following:

  • A course-light version that is free or cheaper
  • Lowering your price to the hundreds, not thousands
  • Offering a money-back guarantee

If you’re charging $2,000+ for an e-course it’s obvious you care more about enriching yourself more than you are helping the person. That’s fine since it’s the free market. You just have to be right inside about your decision.

Personally, I decided to write a traditionally published book with Penguin Random House entitled, Buy This, Not That: How To Spend Your Way To Wealth And Freedom. The full retail price is $27, which is way more affordable than an e-course that costs $2,000+.

Although I won’t make much money publishing my book, it will make a much larger impact in helping others build wealth and courage. To me, that’s more important than making more money I don’t need.