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18 people share the dumbest financial mistake they ever made.

18 people share the dumbest financial mistake they ever made.


'Money can't buy happiness' or 'More money, more problems?'

Regardless of your financial philosophy in life, we've all made a few disappointing errors when it comes to matters of the wallet. Banking on a slot machine, bringing a wad of cash to a karaoke bar, retail therapy, or giving your corporate company card to Anna Delvey on a vacation in Morocco--money is complicated.

So, when a Reddit user asked, 'What was the dumbest financial mistake you've ever made?' people were brave enough to share.


Getting conned into a high interest credit card at 18, then completely screwing it off because I was 18 and an idiot. A $500 credit limit turned into $3000 worth of fees and interest.

That blemish just fell off of my credit report this year. It was a terrible mistake that left me years behind credit-wise. But, at 26 I am much more careful with my money. I have definitely learned a lesson. - ithinkimalergic2me


Let my girlfriend borrow money from me. Didn't get it back after we broke up. As expected. - ReferencesCartoons


Cosigned a loan with my nephew's live in girlfriend of 4 years for a car to take them from a 13% loan to a 4% loan.

They split up a year later and I didn't hear from her again much. A few years later the bank contacted me saying she hadn't paid for the car in over 60 days. This turned into a repeating pattern over the next 2 years until now.

I had to cover payments more than once to avoid more credit hits. I was shopping for a house at the time and she managed to drop my credit score a whole f*cking 120 points. I am no longer shopping for a house and still rebuilding.

The last payment on the loan is this october and I am going to throw a party after I completely b*tch her face out for 20 minutes over the phone about how horrible of a person she is. It's going to be glorious. Protip: don't cosign a loan for anybody ever, EVER - bwrap


Marriage...both of them - continuousBaBa


Taking out home equity loans when I didn't have to. I was just buying things that I didn't really need. Lost pretty much all of my profit selling my house. - [deleted]


Quit my job without finding another one first. 3 years until my next job... - [deleted]


Stealing a magazine at the age of 18. Between court costs, lawyer fees, and fees to expunge the judgment later, it was a $600 magazine. - pdraper0914


I threw out a winning 'Lucky For Life' lottery ticket. I could have had 1000 dollars a week for 25 years, but I did not read the rules and thought I had to match my numbers to the word 'Life.'

But I didn't. I had the word life without the matching number, won, and thought I lost. Plot twist, I'm 20. And now I'm living with that the next 25 years. - [deleted]


Filled out every credit card application that was handed to me when I first went to college. 'Left' college after one semester, 4 years later 20k+ deep in credit card debt.

Defaulted, moved to a State where they could not garnish wages and lived 7 years on cash only. Still pretty much live that way today. Big mistake but great lesson. - JohnnyBrillcream


I've bought so much clothes online and half of them don't fit/were bad quality/didn't arrive as expected. I've probably wasted a few hundred dollars on just that. - Deer-In-A-Headlock


I didn't file my taxes. I thought it was automatic. Feds are still holding like $1,000 in taxes for me. - [deleted]


Someone tried to pay me 250 dollars in bitcoins when they were worthless and I laughed at him and said no thanks. - [deleted]


Buying a $300 iPod in the early 2000s instead of using that money to buy Apple stock... - Anastik


Buying a boat...don't buy a boat. - egotisicalpessimist


Opened a credit card in college, bought...something (I don't even remember what), completely forgot about it. Never got a statement, three years later I suddenly have collections agencies calling me nonstop over a $20 debt with hundreds in 'collection fees.' Took years to get my credit back to 'not sh*t' levels. - EternalNewGuy


Spending all my student loan refund checks instead of saving those f*ckers to, oh, I don't know - PAY OFF MY STUDENT LOANS. - stitchbomb


Paid for half of a wedding, only being to blind to see my fiancé was cheating on me. - PLO1021


Not mine, but my dad's. He bought like $500 worth of collectable Star Trek dinner plates in the 80's thinking they'd be worth a ton of money in a few years. They're not. - DrRagnarok

Sources: Reddit
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