Financial Mistakes

I thought it would be cool to display and write in jest all the financial mistakes I’ve made, I’ve read, or I’ve discussed with others. Being a personal finance website manager I get talks like this from time to time, and boy things tend to get interesting. Nobody wants to air their dirty laundry but this post will be different. It will all be anonymous in order to help anyone struggling with financial management and to make a point that mistakes may occur at any moment. Also it will help millions of people who never committed these blunders avoid them.

Now that we got all the back ground noise out of the way, let’s get to the steak of the article. (OR is it meat of the article – whatever you get it) Remember a time back in the day when you had no bills, no loans, no income, and no real financial responsibility? It was all so peaceful back then, and now you’ll slowly waken out of that slumber. No more day dreaming for you, as you might get crazy debt freedom ideas. I will obviously give you a big list of money mistakes and I’m not holding back anything.

Sharing Financial Mistakes is just as Important as sharing money wins

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Financial Mistakes: I can neither confirm nor deny Who Made these Mistakes.

Borrowed for School Loans – used some of the money for spring break retreats 4 years in a row – Repeat that again!

Took out a Loan from Grandma (Never paid it back- Shame)

Actually paid 10 dollars for coffee – That’s like a 4 month supply in my Casa

Believed the Insurance Salesman – that Whole life insurance is a god investment for a 21 year old – The Nerve of them!!!

Never Contributed to a 401K and you worked at the company for 10 years – Oh man this is madness!!!

Bought a rolling machine with 0 down, and 100% stupid choice with 0% APR – At least you’ll look cool at the Red light

Decided to live in a Mini – Big House that vacuumed over 50% of earned income – You can skip dinner once in a while now.

Invested thousands in a partnership with no legal documentation or representation – WHAT!

Bought Sirius Stock during its high flying 8 dollars a share days- Thinking it might double.

Purchased a car, right out of college, a week after getting a new job, and the price of it matches 90% of the annual income – COME AGAIN $$$$

Took out a credit card because the free PEN looked Cool – Shaking my head in disbelief***

Purchased a Time Share when you know you’re living paycheck to paycheck – Now that wasn’t Easy

Joined your bookie for drinks on a big football game night – You know you done messed up now?

Purchased a massive SUV for your daily commute 40 miles to and from work – 8 cylinders of GAS sucking FUN

Decided to cosign your 30 year old sons college tuition that lives in your basement – Do you know where’s Common Sense, it’s lost at SEA

Paid 3k for a 10 week vacation package – and only used it 2 times – Easy way to Flush money down imaginary toilet

Paid 3k for a computer that is used to only check email, and for internet searches at 22% interest rate – Say THAT again buddy!!!

Borrowed 250K for School and future income is predicted to be only 50K a year – Holy Moly

Hold about 12 credit cards, and all are almost maxed out – you take a vacation because your financially stressed – #No kidding

Took out a gym membership for 90 a month, and use it only 2 times a week – sometimes you miss a week. – You got to be joking right

Recently got Laid off from work, and your idea of a relaxing day is going to the mall to shop, and meet friends for lunch everyday – Hands Clap for you $

Invest in heavily risky stocks – then blame others when you lost money – Obama has nothing to do with your choices!

Self Employed worker making over 70K and cant find $$ to invest into an IRA – Um what excuse am I going to hear now!

I don’t invest its only for Rich people – compounding doesn’t exist its hoopla – Well how you think the rich got rich? Investing #hello

By Sharing these financial mistakes I hope people can learn from these uh ohh moments and it can help you possibly avoid losing thousands of hard earned dollars. The financial mistakes were made by others for the sole purpose to help you skip over them, like an expert in financial dodge ball. I can’t believe some of them and I hope to never again hear horrible financial mistakes like these from other people in my circle.

Rich Uncle EL