Share your story: What is the dumbest thing you've ever spent money on?
While driving to work, I often enjoy listening to the various morning shows. One of the common themes is to ask the listeners a crazy question and have them call in and share their story or experience. I thought it might be both fun and interesting to do something similar here on Gather Little by Little. This post is the first in on ongoing series I am going to run called Share your story, where I’ll throw out a question and you can share your answer. If you have a blog, I encourage you to blog about your story and I’ll add a link in.
Here’s the first question:
What is the dumbest thing you’ve ever spent money on?
My dumbest thing
I have to be honest, I’ve spent money on so many dumb things, it was a bit difficult for me to choose, especially considering I bought lots of items I didn’t need while still carrying significant credit card debt. For me I think my dumbest purchase was our truck and camper.
In 2002, we purchased a 32′ travel trailer camper, and in 2004 purchased a brand new Dodge diesel pickup truck to pull it. While RV camping and owning a trailer isn’t dumb, for me it was a dumb purchase. We had many numerous wonderful vacations in our RV and as a result carry memories we will cherish for a lifetime. Some of our fondest memories as a family are camping.
I bought the truck in order to have a reliable and safe pulling experience. If you’ve ever pulled a trailer with a vehicle that wasn’t capable, you’ll know exactly what I’m talking about. Purchasing the truck made our camping experience far less stressful for me.
The problem wasn’t purchasing the camper or truck, although we did buy them both new which was dumb. Our problem was buying both of these items while still carrying a large debt balance. The camper and truck combined were right at $50,000. The truck was financed for 5 years, and the trailer for 10 years. Monthly payments for both were around $550.00.
That was $550.00 a month I should have been applying to my debt snowball. Fortunately we saw the light, and sold both the truck and the camper in 2006 and 2007 respectively. We still camp, but in a large tent. I now drive a 100% paid for used vehicle instead of a brand new truck.
We may again buy a camper, but it will be used as will the tow vehicle and it won’t happen until we are 100% debt free except for our mortgage. Amazing how hindsight is 20/20 huh?
Other bloggers sharing their “dumbest thing” story:
Share your dumbest thing story by adding a comment or blogging about it. If you blog about your story, make sure I get a trackback, if not add a comment linking to your post.
Photo by: urban10