The biggest financial mistake I made was in the years when I was single and married, before kids. During these years I was wooed into craving "high-end" things when possible--high end clothes, restaurants, travel, personal items. Now at 51 I realize that all that money was for naught. My husband and I intentionally make all our purchases at a solid "medium end" which includes some items like used cars and second hand clothes, and have found that we have a wonderful lifestyle. There are so many high quality things available at lower prices that almost no high end goods are worth it anymore.
I spent too many years deferring my relatively low balance student loans ($7000) when I didn't have a very good job, instead of paying even a small amount. 13 years later, I have a good job and a balance under $2000, but they're still there.
I regret renting for as long as I did. I ended up putting a lot of money into a place that I didn't own when I should have invested in a house earlier on.
These are great examples. I'm a big believer in teaching your kids good financial habits by talking openly money and displaying good behavior yourself. Making it somewhat fun certainly doesn't hurt either ;)
I personally have something like the Alpine Swiss Hudson bag, however, I just discovered something that I will be taking with me any time I travel now. If you google Shampoo soap on Amazon, you find a plethora of soaps that can do double or triple duty as also shampoo and shaving soap. I used a bar on my most recent trip (a bar of Bar None Body and Shampoo Brick) and it worked great. The nice part is you don't have to worry about leaks, the 3oz rule at the airport, and its 1 product that does 2-3 things (and if you want to go completely liquid-less, they make tooth power for brushing)! Ive taken what normally would have to go in my travel bag, and shrunk it down to something that could fit in my pocket
After the stock crash in 2007-08, Apple stock was around $90. I thought about buying but did not follow through. Such a missed opportunity! I am a more educated investor now so I hope I wouldn't make this mistake again.
And I agree with others' comments about all the little purchases made on clothes, shoes and do-dads that I'm sure add up to quite a bit of money. I, too, wish I could get that money back!
I took out loans I didn't need to in college and didn't work to pay them off quickly. I am still paying now and trying to pay them off by the end of next year.
I don't have a comment,but a question.I just got a used car from my friend,So far it was good but know it is been out of order.I want to repair my best used car.But don't know where to go and find a well experienced mechanic?
And I think this sounds like a very valuable piece of advice. Sincere Congratulations Mr./Ms. Onepercent-er and thanks -really - for sharing the insight.
My husband taking out so many school loans and us not putting more money into paying them off earlier rather than putting extra money towards our mortgage.
Buying a house in 2007 was my biggest financial mistake. I spent may more than I should have. If I had lived more frugally, I could have saved and invested more money, and would definitely be in better financial shape today!
When I was 30, I cashed out my retirement to help my (now ex) husband start his own business. Biggest mistake I ever made and I've been trying to correct it ever since.
I wish we'd never put in an in ground pool. We ordered a kit online, worked all summer DIYing it, and enlisted free help from friends (which saved us a lot of money), but our kids are grown now. It doesn't get used enough to justify the expense for chemicals and running the pump. Plus, I'd love to have the space it takes up for more raised garden beds.
We took out a second mortgage to start a business that failed and ended up taking money out of retirement to pay off creditors. Took us 7 years to pay it off and still haven't repaid the retirement amount. Worst money mistakes ever.
Rather than reconsidering movers or doing the pod thing - it's far better to go with a reputable national moving company, such as Mayflower or United Van Lines.
And remember that if you pack yourself, you're solely responsible for any breakage - but if they pack, their insurance (yes, go for the added insurance) covers you.
As far as driving vs. shipping the car - You've got to move the car anyway so why not drive it? Just allow yourself enough time, overnight reststops and some sightseeing along the way and call it a "Roadtrip" - plus the fact you can load up the car with the immediate needs for the new place: bedding, coffeepot, etc. and you can accommodate your pets better than traveling by air.
However if you must fly and ship the car rather than drive - Don't leave a single thing in the car: When my folks shipped their car back from Europe, the jack and spare tire were stolen out of the trunk!
Also - dismissing a company that requires a deposit: That's Penny-wise, Pound Foolish!!! The most reputable companies require deposits up front as the trucks equipped for such moves require booking well in advance - You're more likely to get a fly-by-night mover if you choose someone who has space available at the last minute.
Didn't have any health insurance in college (before it was mandatory) had to have emergency dental surgery and it put it all on my credit cards. Needless to say I did not know how they worked and only paid the minimum for several years. Just recently got out the debt
Did you also know that 8/5 people admit that they are bad at fractions
Getting into credit card debt! I've dug myself out and then done it all over again, and I'm now working hard to hopefully be debt-free for GOOD!
i regret not buying a home when the market was good and i had the down payment. now the homes in the areas i want are too exorbitant.
The biggest financial mistake I made was in the years when I was single and married, before kids. During these years I was wooed into craving "high-end" things when possible--high end clothes, restaurants, travel, personal items. Now at 51 I realize that all that money was for naught. My husband and I intentionally make all our purchases at a solid "medium end" which includes some items like used cars and second hand clothes, and have found that we have a wonderful lifestyle. There are so many high quality things available at lower prices that almost no high end goods are worth it anymore.
I spent too many years deferring my relatively low balance student loans ($7000) when I didn't have a very good job, instead of paying even a small amount. 13 years later, I have a good job and a balance under $2000, but they're still there.
I regret renting for as long as I did. I ended up putting a lot of money into a place that I didn't own when I should have invested in a house earlier on.
These are great examples. I'm a big believer in teaching your kids good financial habits by talking openly money and displaying good behavior yourself. Making it somewhat fun certainly doesn't hurt either ;)
I personally have something like the Alpine Swiss Hudson bag, however, I just discovered something that I will be taking with me any time I travel now. If you google Shampoo soap on Amazon, you find a plethora of soaps that can do double or triple duty as also shampoo and shaving soap. I used a bar on my most recent trip (a bar of Bar None Body and Shampoo Brick) and it worked great. The nice part is you don't have to worry about leaks, the 3oz rule at the airport, and its 1 product that does 2-3 things (and if you want to go completely liquid-less, they make tooth power for brushing)! Ive taken what normally would have to go in my travel bag, and shrunk it down to something that could fit in my pocket
Thanks for posting this. I'm going to give it a try!
After the stock crash in 2007-08, Apple stock was around $90. I thought about buying but did not follow through. Such a missed opportunity! I am a more educated investor now so I hope I wouldn't make this mistake again.
And I agree with others' comments about all the little purchases made on clothes, shoes and do-dads that I'm sure add up to quite a bit of money. I, too, wish I could get that money back!
I took out loans I didn't need to in college and didn't work to pay them off quickly. I am still paying now and trying to pay them off by the end of next year.
I don't have a comment,but a question.I just got a used car from my friend,So far it was good but know it is been out of order.I want to repair my best used car.But don't know where to go and find a well experienced mechanic?
I didn't save enough money . Thinking I would have a good paying job even though there was no guarantee of it.
I bought a new car, and probably should've went used.
not saving more money when we were younger
And I think this sounds like a very valuable piece of advice. Sincere Congratulations Mr./Ms. Onepercent-er and thanks -really - for sharing the insight.
My husband taking out so many school loans and us not putting more money into paying them off earlier rather than putting extra money towards our mortgage.
Buying a house in 2007 was my biggest financial mistake. I spent may more than I should have. If I had lived more frugally, I could have saved and invested more money, and would definitely be in better financial shape today!
When I was 30, I cashed out my retirement to help my (now ex) husband start his own business. Biggest mistake I ever made and I've been trying to correct it ever since.
The pregnancy tests are the exact same test as what is used in a clinic, same manufacturing company and all.
For me it was getting a credit card in college. Big mistake!
I wish we'd never put in an in ground pool. We ordered a kit online, worked all summer DIYing it, and enlisted free help from friends (which saved us a lot of money), but our kids are grown now. It doesn't get used enough to justify the expense for chemicals and running the pump. Plus, I'd love to have the space it takes up for more raised garden beds.
We took out a second mortgage to start a business that failed and ended up taking money out of retirement to pay off creditors. Took us 7 years to pay it off and still haven't repaid the retirement amount. Worst money mistakes ever.
Rather than reconsidering movers or doing the pod thing - it's far better to go with a reputable national moving company, such as Mayflower or United Van Lines.
And remember that if you pack yourself, you're solely responsible for any breakage - but if they pack, their insurance (yes, go for the added insurance) covers you.
As far as driving vs. shipping the car - You've got to move the car anyway so why not drive it? Just allow yourself enough time, overnight reststops and some sightseeing along the way and call it a "Roadtrip" - plus the fact you can load up the car with the immediate needs for the new place: bedding, coffeepot, etc. and you can accommodate your pets better than traveling by air.
However if you must fly and ship the car rather than drive - Don't leave a single thing in the car: When my folks shipped their car back from Europe, the jack and spare tire were stolen out of the trunk!
Also - dismissing a company that requires a deposit: That's Penny-wise, Pound Foolish!!! The most reputable companies require deposits up front as the trucks equipped for such moves require booking well in advance - You're more likely to get a fly-by-night mover if you choose someone who has space available at the last minute.
Didn't have any health insurance in college (before it was mandatory) had to have emergency dental surgery and it put it all on my credit cards. Needless to say I did not know how they worked and only paid the minimum for several years. Just recently got out the debt