I’ve avoided huge mistakes, luckily. I’d probably say it was getting burned fronting sacks to people when I was selling weed back in my 20s lmao. One kid was my neighbor, he was taking an eighth a day from me ($50 each), then paying me back at the end of the week when he got paid. It was working out fine, but the week he moved out of town for good, he never paid, so that was a $300 loss. Then another kid who was a male cheerleader at the school lmfao, he did the same exact thing. He didn’t leave town but he did switch apartments, but someone tipped me off to his new place. I was going to run up on him and roll him if he didn’t come up with the money, but I didn’t, because he was gay and I had it in my head that he’d report me for a hate crime, and I wouldn’t be able to say “no, officer, it wasn’t because he was gay, it was because he owed me money for weed”😂😂😂, because weed was still illegal at that time. So I never checked him on it, and there went another $300. Luckily I never got burned fronting weight, that would’ve been thousands of dollars. $600 is pretty light love, all considered.
@FictionalCharacter haha, well, I’ve given out a few freebies here and there, but that was my livelihood for the most part, or one of my income sources anyway, so when I start getting ripped off it’s a bit of a problem. I guess I’m lucky though, a guy who was one of the RA’s in my freshman dorm got shot in the neck and robbed by one of his “customers.” It never got that real for me, but when I got heavier into the game, you didn’t want to be coming up short to suppliers, they really didn’t mess around.
When I was young and was trying to establish credit I went to one of those good, bad, no credit places and I bought a car with significant mileage, paid market value, and agreed to the loan at 24%. That wouldn't have been so bad but I had to replace the engine in a year ( leading me to believe it was damaged when I got it). Even that I can let go. But rather than make payments ahead and trade it in later to get out from underneath it my stupid ass kept it and paid the entire thing off. I'm sure that lender loved me. Lol
When I was younger I got myself into a lot of debt and thought I would have to go bankrupt at one point but fortunately managed to sort it out and now everything is fine took almost 5 years though and needless to say i'm a lot more responsible with money now
For a great while, I was putting any extra money into savings rather than stocks or investments. With the amount that I was putting away in a savings account, I could have made a lot more from investments.
To clarify-- saving money is great! It just could have made more than it would in a savings account. Better a savings account than money under a mattress though.
As in, I could/should have started to really plan and foresee at 18 right after high-school, instead of taking year off and then going to college "because I had to"
So at age 22, I did a reset on those plans, but now I had to adjust to a newer reality, rather than plan on my own expectations.
In all honesty though, how many kids, especially today, are thinking that far ahead financially speaking? I know I certainly wasn't. I've gotta applaud your at least thinking about it at that age.
Well, there's kids under my care sometimes, so I am making sure they're aware of these things, as earlier as possible, it is on us too, to guide them as best as we can
I married my ex, that was by far the most expensive mistake financially I've ever done.
As for beyond that, my first car I bought a lemon got overcharged, within 3 days already had to do 3k or so in repairs... as I didn't know about lemon laws and got taken advantage of.
Buying a house, while still renovating another house.
it was I knew at the time a risk and I knew I should not do it.
but I talked myself into it lol.
lost about £40k off loading it, I ‘made it back up’ on the sale of the renovation property, it was however the last time I tried doing a double flip and not enough on ARV.
10 year or more ago I may have had a chance to buy a house at a knock down price. Today it would be worth almost double. I did buy a cheaper flat, did make a profit when I sold, but at least £50k worse off and had to live in flat i didn't like to much for nearly 10 years. But life would have turned out different, may not have met OH and had my kids so I don't dwell on past
When my mother died I received a little bit of money from the estate. I wanted to go on a nice vacation with my wife which we had never done before or else buy a boat. Instead I invested it in a couple of mutual funds and some stock. I thought I was doing the "responsible" thing. I ended up losing half of it.
my worst financial decision was a building loan contract. i was really short for cash, so i needed to liquidate some assets. there was no way around it and i lost like 70% of the money i had put in, cause that's the price you pay if you leave those contracts early...
I never used a stereo system I was gifted with because I was too lazy to read the instructional menu and I once spent over a week’s pay cheque on an e book without knowing what the topic was. Only read 1-3 chapters cause I was bored.
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Anonymous
(30-35)
+1 y
I dont know i dont have the best credit score it's 750. i never went to college I got trade.
i guess not investing in-game stop when the stock was going crazy.
i paid for porn and adult dating sites for 2 years. but i did meet a few chicks so it kind apaid for it self
I guess paying $100 just for a consultation that I couldn’t even afford for a procedure appointment. Laser surgery I mean. It’s $3,000 for acne scars laser removal.
Not selling baseball card collection before card grading and the reprints pre 1990. I could have made $$$ and bought silver , then sold the silver at $50 an ounce and then I would be typing this from the virgin Islands.
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Anonymous
(36-45)
+1 y
After I was let go from my job in Northern Alaska, I decided to take 6 months off, draining my savings. I had over 22000 at the time, then had just under 5000 by the time I did get a job. Dumbest thing I ever did.
I made a really really bad one in my early 20s still hard to talk about cuz i really let myself get taken advantage of when I definitely should have better. Cost me nearly 5G.
Dumb question, but have I missed out on something with all this cryptocurrency? I hear a ton of people talking about it, but I have had absolutely zero time for research.
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