What's the worst financial decision you've ever made?

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Feb 27, 2017
Mine would probably be buying my current car. Still owe a decent amount on it and it's probably worth less than half what I owe.

That or my student loans. Happy with my career but didn't need my degree to get it so it seems like a waste of money.
 
Going to college without a full scholarship. Should've listened to my dad and did 4 years in the air force first.
My car is pretty expensive but I can't say I regret it. Seeing it shining when I step outside [emoji]128526[/emoji]

Other than that, just several small things.
 
Wylin in da clubs with student loan money :smh:

Buying a BMW (for self esteem) with my friend cosigning only for me to get laid off in 1.5 years. Needless to say we haven't spoken in years :smh:.

Those are two life altering mistakes involving money with one hurting someone else and I have guilt/regret about them to this day. Just thinking about it gives me chills man :smh:
 
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And bros - just to add. This is my opinion of course:

There is a lot of value in a degree. The journey develops you spiritually whether we want to realize it or not.

And it also gives us leverage were something to happen with the job/career situation. It is not a trump card by any means but it gives us more of a chance out here in these streets.

Saying that it isn't worth it or may not have been worth it etc. can be very misleading to people. We just need to coach these youngins on being smarter about it and managing their expectations all things that relate to college.
 
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Wylin in da clubs with student loan money :smh:

Buying a BMW (for self esteem) with my friend cosigning only for me to get laid off in 1.5 years. Needless to say we haven't spoken in years :smh:.


Those are two life altering mistakes involving money with one hurting someone else and I have guilt/regret about them to this day. Just thinking about it gives me chills man :smh:

damn lol.

no kia jokes yet?

for me, prolly buying gold stocks in 2008 when some NTer was saying it was gonna blow like crazy.
I bought maybe 3 diff stocks, 2 did good, JAG (stock symbol changed cause they not even on the main floor anymore) lost me prolly $5gs smh
 
I stay within my means..

If I had to pick something it would probably be buying jurly
 
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damn lol.

no kia jokes yet?

for me, prolly buying gold stocks in 2008 when some NTer was saying it was gonna blow like crazy.
I bought maybe 3 diff stocks, 2 did good, JAG (stock symbol changed cause they not even on the main floor anymore) lost me prolly $5gs smh

Just being honest man. I was much younger and didn't know it at the time but I wanted to look good.

And I was trying to run with my rich white friends :lol:. Ended up costing me A LOT.
 
Wylin in da clubs with student loan money :smh:

Buying a BMW (for self esteem) with my friend cosigning only for me to get laid off in 1.5 years. Needless to say we haven't spoken in years :smh:.

Those are two life altering mistakes involving money with one hurting someone else and I have guilt/regret about them to this day. Just thinking about it gives me chills man :smh:

Son everybody was doing this at my school. Along with getting rims and buying j's. My mom put me on game early about finances and stuff so I knew that was an L.

For me I'm still waiting to see if spending my savings on grad school was worth it. I like my current career a lot but I don't need a masters for it. Time will tell.
 
Yeah man. 750 a month now.

I can handle it - but that is A LOT of money. I don't care what anyone says.
 
Speding student loan money on Js and tech stuff.

I don't wear 90% of the shoes I bought and learned NOTHING regarding financial literacy. Could've owned a home by now but I'm slowly getting to that point.


Another one would've been spending $900 on a logic coding bootcamp and not finishing it. I haven't touched the stuff in a year plus but I still have the skill set from it.
 
Buying drinks at the club lol
I can drink so a good night can run me about $65-$80.
Every time I think about it it just seems so pointless
 
Wasting money on student loans for things other than school.

But I was fortunate to get grants too, so it wasn't too bad 
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Buying anything that's hyped on NT or shoes because the on-feet photos look good (still struggling with this)
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Luxury Car Purchases without a doubt.
I've owned cars by Cadillac, Infiniti, and Jaguar. Even when they were paid off it was still losing with the cost of upkeep.

These days I drive Cheverolet and Dodge, while my wife drives Volkwagen.
 
I once financed some rims and tires, I thought I could pay it off in the 90 days before the interest would kick in. That didn't happen and ended up spending almost 3xs more than it actually cost, if you can't pay for it on the spot leave it alone kids.
 
Damn, i've taken a lot of Ls.

-Paying for college tuition and not taking classes seriously. Prolly wasted 2 years worth of tuition. In-state so about 25K
-Had a phase with designer clothes (Gucci, LV, Burberry), wasted a few thousand and don't even wear these ***** anymore
-Blew 20K at casino
-Bought a Breitling watch that I don't even wear. Was like 5K
-Also wasted 11K on a Rolex and Omega, but at least i wear those lol
-When I bought my first car I decided to finance myself with no credit history. Interest rate was high af. Wanted to be independent instead of letting mom co sign.

The worst part is I'm still young (24) and already blowing money like this. Gotta learn to be responsible or I'm gonna be in deep **** in the future
 
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Most of mine are from not pulling the trigger on things that I should have. 

In 2008, when the economy was tanking... I was THIS close to buying a ton of Ford stock (I worked for them at the time).  It was like $1.79 at the time, but I backed out because i was worried they might go bankrupt and then whatever I purchased would've been worthless.   Now Ford stock (which is actually down in the last month or so) is above $10 per share, and was as high as $17.72 per share back in 2014 (basically 10x increase).   Same thing for Apple stock, which at the time was $95 per share, split 7 to 1, and is now at $150ish.   Same for GE stock, which was under $5 at one point, and is now currently at $28ish. 

Similar "misses" were not buying a condo in Detroit, like I was going to.  Condos were selling for like $30-60k downtown near Comerica Park.  Now those same condos are worth $300k+ 

I moved to Denver about 6 years ago.  Just bought a house 2 years ago, and the value has risen by about $30-40k since I bought it.  That is good, but I should've bought 2 years prior to that and I would be doing a lot better.  Probably would have been "up" by around $100k value increase, if I had bought 2 years earlier.   

Bit coin back when it was like $50 each. 

Damn... need to go with my gut more often. 
 
reading that deep web thread in 2011 and not understanding that Bitcoin wasn't just illicit encrypted arcade tokens for drugs & guns but actually money that would skyrocket in value.
 
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Student loans on a tech school. My Dad and H.S. counselor warned me and I didn't listen. Such a waste of money on a school that no longer exists. :smh:
 
BSin in school forcing me to have to take out extra loans in order to finish
Getting a degree in history
Not buyin a house before my student loans went into repayment
 
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