Comments on: Ask the Readers – What Stupid Financial Mistakes Have You Made?

By: glblguy

glblguy — Fri, 03 Aug 2007 17:10:08 +0000

@Randy – Been there…a few times

@MITBeta – Great list, laughed out loud at “Not wondering a lot sooner where that water was coming from”. 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!

By: ChristianPF

ChristianPF — Fri, 03 Aug 2007 04:44:05 +0000

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…

By: MITBeta

MITBeta — Fri, 03 Aug 2007 01:12:15 +0000

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?

By: Randy Peterman

Randy Peterman — Thu, 02 Aug 2007 19:29:27 +0000

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.