Ask the Readers – What Stupid Financial Mistakes Have You Made?
By glblguy
The popularity of my 7 Stupid Financial Mistakes I’ve Made article surprised me. Thinking on this some this morning on the way into the J.O.B., I thought it might be interesting for you, the readers, to share your “Stupid Financial Mistakes”.
So what are yours? What stupid things have you done in the past that you would like to help others avoid doing? I know I have a lot more than 7 personally!
August 2nd, 2007 at 3:29 pm
If I ignore my debt it will go away.
I kept telling myself, “I make plenty of money, I’ll get this paid off quickly.” And then I went out and put another stupid something on the card.
Stupid.
August 2nd, 2007 at 9:12 pm
In no particular order:
– Using credit cards in college thinking that I would be making plenty of money when I graduated and easily be able to pay off the balances.
– Using credit cards after I graduated thinking I’m making plenty of money and can pay off the balances easily.
– Renting an apartment for better than the market rate because they allowed pets. I didn’t have one, but thought I might get one.
– Breaking the lease on that apartment and coughing up 2 months’ rent for it.
– Making a lot of money and not really paying attention to where all the money went. (In my defense, I did max out my 401k to the point that I was contributing after tax dollars 2 years in a row…).
– Buying the wrong house for too much money in an area we didn’t like. Wait, that was 3.
– Asking too much for the house when we first put it on the market.
– Not wondering a lot sooner where that water was coming from…
– Buying a rental property for too much money at the height of the real estate boom.
Is that enough? :D
August 3rd, 2007 at 12:44 am
Buying a brand new car was the latest one. I had an excuse that I won’t get into here. But, I still think it belongs on this list…
August 3rd, 2007 at 1:10 pm
@Randy – Been there…a few times
@MITBeta – Great list, laughed out loud at “Not wondering a lot sooner where that water was coming fromÂ…”. Oh, I think that’s plenty! :-)
@ChristianPF – Until probably 3 years ago, all I ever had was new cars. Kills me to think how much money I wasted. You’re not alone!