The biggest money mistake?

@puccagirl (7294)
Israel
August 3, 2010 4:45am CST
Even the best of us make mistakes when it comes to our finances, and it's a way to learn and be more clever and responsible with your money in the future. So I am curious to hear: What has been your biggest money mistake so far? In my case, it would be taking a student loan when I was at university. I didn't really need it, and it took me ages to pay back. So now I am really against loans in general. At least I learned something from it!
11 responses
@cher913 (25782)
• Canada
3 Aug 10
we thought we could make some extra money by joining one of those sites on the net that help you open an online store but they were american and stuff pretty much didnt work here (we are in canada), plus they wanted us to spend way more but as it was we had spent $5,000.
@puccagirl (7294)
• Israel
4 Aug 10
Oh no, so sorry to hear that! That is a lot of money to loose like that!
@unseenzy (171)
• Philippines
3 Aug 10
My biggest mistake was to invest my money in a business (with a business partner) then allowing myself to give in to almost anything that my business partner wants for the business. At first it was really okay.. Business is doing good so I'm loving it. But since the business was so good, my partner wants me to invest more. Without thinking, I invested more.. Then my partner wants me to invest a bit more. So with my stupidity, I invested more.. Then since almost 90% of my payouts go there, I barely have extra cash so I had no choice but to loan. And now I'm still paying my loan at the same time the income from the business is taking ages.
@puccagirl (7294)
• Israel
4 Aug 10
Hopefully your investment will pay off eventually though, if I understand you correctly, you don't know how it will go yet? So you just need to be patient I guess, you will get there eventually! Keeping my fingers crossed for you!
• United States
7 Aug 10
My biggest mistake was spending money I had only through credit and not making enough money to pay it back as quickly as the creditors wanted. However, even though I'm still in debt, I've learned that God will supply all my needs and if He does supply me with whatever, I didn't need it.
@JOIEMARVIC (2335)
• Philippines
3 Aug 10
My biggest mistake when it comes to my finances was having a credit card and not using it wisely. I have paid all my credit cars debt in two years, but until now my finances are still on the low because of that mistake. I have promised myself never to get another credit card in the future. If I want something, I would save for it. No more installment plans, hidden charges and other fees.
@puccagirl (7294)
• Israel
3 Aug 10
This is another really common issue that a lot of people have. A lot of my friends have been through the exact same thing, and some have still not learned from it. I am against unnecessary credit cards as well, they can do a lot of damage!
@calai618 (1773)
• Philippines
3 Aug 10
I think mine would be earning and then spending everything and then wait for the next time that I would have money again. It's hard when you are stable because you get always expect that there'd always be money at a certain time. i think i really need to save up and only spend for the things i need. i shouldnt just think of the present but also try to save up for the future and anticipate future happenings as well.
@puccagirl (7294)
• Israel
3 Aug 10
This is a really common mistake, I am sure you are not the only one this has happened to. But as long as you learn from it, it is all good. I am sure you will be more careful with your money in the future, no? Thanks for your reply by the way, I appreciate it!
• Pakistan
4 Aug 10
well the biggest mistake of money for me is that you could possibly just make money priority in the first rather than your family which will make your life in your family absolutely ruined and you they cannot forgive you anf then you will feel empty and yotr going to feel so sorry also.
• Malaysia
3 Aug 10
It's credit!! Never get credit cards unless you have a STRICT rule that you pay the amount you use at the end of the month. The finance charges will kill you! That's the one that one can get in debt with. It's like a legitimate scam making you use money that you DON'T HAVE!! And then they charge you for using the card, and also owing them money and it's a daily interest mind you!! So, I opt to never get a credit card, that is a big money mistake. Really big (non) money mistake.
• Philippines
3 Aug 10
My biggest money mistake so far was to invest in an insurance that has a little accumulated earnings fora period of 10 years. I wasted money on it and could not get it back anymore. That was stupid but now I have learned. I could make more from it if I placed it on time deposit rather put in on insurance.
@gfyy1990 (25)
• China
3 Aug 10
I agree with you that money is one thing wo should consider conscientious.I am a student now,and I don't make money myself,means I don't have my own source of finance.I think this's my biggest money mistake.I think I should take part in some part-time job to make some pin money.And I think I must spend my money worthy,I must make my spending program.
• Thailand
3 Aug 10
Of course in life we will make mistakes, and will make mistakes many times more. And ttats course, we could learn much from it. Do not worry about that. Think that's just one of the exercises you do in life.
@trigel (20)
• United States
4 Aug 10
mine would have to be when i got my first apartment i got a credit card in my name and bought a ton of stuff for the apartment and then did not have the money to keep up on my payments along with all m other bills and now i have bad credit and still owe them money and that was 2 years ago....ouchhh