Everyone makes mistakes, but when it comes to money, making a mistake can have a great cost. The less mistakes you can make when it comes to money, the better, which is why learning from the mistakes of others is a great idea. Redditor u/The_guy321 has you covered, as he asked fellow Redditors “What is the biggest money mistakes you have ever made?” Pay attention so you don’t make them too!
- "I agreed to take over my ex-girlfriend's bills so that she could pay off her debts. Five years and over $100,000 of my money later, she was in more debt than when we started and cheating on me. Don't ever do this, just make her be an adult or dump her. It's never worth it."
- "Buying a boat...don't buy a boat."
- "Lending my credit card to family."
- "Ages ago, I lost my job and waited way too long to sell my luxury car I could no longer afford. The job hunt took much longer than expected and then I sold the car for far less. It was really dumb. All totally good now, but it a good learning lesson."
- "Five years ago I bought plane tickets for my ex to come and see me, and he canceled on me three days before saying his grandma was on her deathbed (she is currently still alive). I was 16 and I wasted three years' worth of savings."
- "I opened a credit card in college, bought something (I don't even remember what), and completely forgot about it. I never got a statement, three years later, I suddenly have collections agencies calling me nonstop over a $20 debt with hundreds in 'collection fees'. It took years to get my credit back to 'not sh*t' levels."
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