Their Worst Financial Blunders That Still Haunt Them To This Day
People Are Sharing Their Worst Financial Blunders That Still Haunt Them To This Day, And I Really, Really, Reeaaaally Feel Their Pain
BuzzFeed Mon, July 29, 2024
Reddit user Dira_Jo asked the community, "What do you consider the worst financial decision of your life?" People swiftly took to the comments to share the money mistakes that still haunt them years later. Here's what people revealed:
1."Not contributing the max amount into my 401k. I worked at that company for 27 years and could’ve retired long ago."—u/parrothead_69
2."Being a tobacco user. I've told all my friends younger than me, as well as my kids, never to start using tobacco or Nicotine products. I started at 18 and am almost 45 now. I've quit a few times for a while, but a ton of stress at work and other things brought me back.
I've spent too much time and money both using, trying to quit, and dealing with ridiculous price increases and taxes that are supposed to help deter but really just squeeze more from us addicts."
"I have lived the rest of my life very responsibly, living within my means. I bought a home and then sold it once my family grew to purchase a bigger house while the market was still decent here and interest rates were low. I've invested the max in my 401k. I buy used vehicles and pay them off as soon as possible. The wasted money comes from something I know is bad for my health in the long term.
I have to admit, I have little control over it, although I keep trying. It sucks. So, any of you younger folks here, take it from me. It may seem fun, cool, or relaxing as a teen or young adult, but do yourself a favor for both your wallet and health and stay away from dipping, smoking, vaping, etc."—u/BigSarge79
3."Loaning money to friends. Or anything of financial value, for that matter. To this day, I will not loan so much as a penny without some kind of leverage against the person to pay me back. That saying about loaning people money is true. If you're going to loan money to somebody, you should do it assuming you won't get paid back. That has happened to me every single time. I will never loan money or things of monetary value ever again."—u/Busy_Ad2627
4."Letting my dental insurance lapse. I had the same plan for years, plan options changed, and I forgot to update to the new plan. I got my first cavities and root canals a few months later, and it cost thousands rather than hundreds."—u/AurelianoTampa
5."I was short on rent by $500 in 2013, so I sold 16 Bitcoins to cover the difference. Those coins are worth over a million dollars today."—u/Discokruse
6."My first trip to college. I racked up $56k in debt, and I dropped out. The cost of campus housing was more than the tuition, and the program was garbage. The school later lost its accreditation and went out of business. Students with federal loans had their balances discharged, but mine were private. I wish I had done some serious soul-searching at the time and thought longer about my goals and career path, but live and learn."—u/dackdeegan
7."My children. They're the best emotional decision ever, but the tiny accountant in my head reminds me every time I book a hotel or buy plane tickets for a holiday how much nicer of a holiday I could afford if we'd stopped at one. Don't even get me started on how much it costs to eat at a restaurant for a family of six, especially now my oldest thinks she's too grown up for the kids' menu."—u/Due-Criticism9
https://www.yahoo.com/finance/news/people-sharing-worst-financial-blunders-031602188.html