What Screams "I Make Terrible Financial Decisions!"? (r/AskReddit)

what screams I make terrible financial decisions in college I was always behind on my rent because I would spend all of my money on weed and Italian cheese bread from Little Caesars I would get super baked get the munchies and order an Italian cheese bread this was a daily thing for years and I eventually got evicted I must have spent close to $50,000 on weed and Italian cheese bread by my sophomore year anyways that's not my answer my sister owns a coach purse treating the limit on their credit card as money they have eggs they have a $5,000 limit on a new card and immediately think what they could buy with $5,000 and opening a new credit card when they run out of that $5,000 I used to be a cashier at a store which had their own credit card that can only be used at that store most of the credit applications i processed were either denied or given very low credit limits because those cards attract people with the worst financial decisions asking your friends on facebook for two hundred and fifty dollars to pay your bills then post pictures the next day of you at the movie theater with $40 of snacks I have a friend who asks to borrow more than she actually needs so that she can still bail out and party for example she may only need $200 but will ask for $300 so that she has an extra $100 to buy booze and party with edit a lot of you are asking if she pays back she has always paid me back not sure about the many others but wouldn't be surprised but not when she says she will it took her nearly three months three months after the date she told me she would be able to pay me back to pay me back $100 I've also witnessed her borrow money from someone to pay back someone else I have reason to believe that she doesn't pay some of her family back like her mom or brother because they always give it to her no matter what she always borrows money from people it's a regular weekly thing for her setting up a GoFundMe account to get their Facebook friends to pay for their wedding instead of opting for a simpler wedding or having a longer engagement or eloping now and having the big party later while still going out to dinner every other night and taking expensive trips I used to work at Gamestop I had a customer that bought a Playstation because a particular exclusive game came out for it then were trade the system and game in to buy an Xbox when a new exclusive for it came out about a month later and would go back and forth trading the respective consoles and games in every few months I tried to convince him to just own each system and buy the games for each when they release because he was losing so much money doing what he was doing his response was that he couldn't afford to buy both at the same time I didn't have the brightest customers I worked at a store called vintage stock it's a lot like Game Stop we had people like that for us too we were in the same strip center as a game stop and we paid out less cash than they did a guy came in saying he was playing our system by buying our cheap [ __ ] and selling it to gamestop like buying a used ps4 from us for like $300 and selling it to gamestop for like $100 instead of to us for $80 like you didn't make $20 you spent $200 what the dark in Western Australia it looks like this get laid off by mining company that was initially paying you well specifically because it isn't a secure position but nevermind that already taken out a $600,000 plus loan on a house a Ratey thousand dollar loan on a sick v8 Commodore plus another $10,000 putting in performance cams under straight-through exhaust so you can pull mad skids this is along the justification that I'll be able to smash these loans out in a couple years on this salary a duck what to do now what's that tickets to body are $300 return better take the family for a booze fuel cheap [ __ ] buying bone and sir it's fine we'll just Remora house dead duck and easy rent-a-center had a co-worker talking about their new bong and she showed me a picture of it on a table with burn marks I asked why it was so burnt and she said up renta centers on my ass cause I haven't paid yet but I don't want to I shouldn't have to pay for a burn table I replied why would they even rent it to you like that she says well they are [ __ ] I told them I burned it and they won't even give me a discount or anything they want more this vicious new bong cost more than a table I now own off Craigslist and she's $200 in debt for a table she can't even keep I still think about that interaction maybe twice a week edit clarified that I didn't buy the table off of her I used to know a guy who was renowned for making bad decisions in general to be fair he was funny and had a heart of gold he just wasn't a logical thinker he never had any savings he was always buying his girlfriend of the month pretty expensive things and always mooching off his mom one of the more fraught decisions that has always stuck with me was when his car broke down it was a piece of junk so it was bound to happen no biggie he was feeling pretty blue because of it as well as a collection of other things that had happened around the same time largely through his own choices so he decided that in order to finally become a winner he needed to look and feel like a winner and do you know what makes you look and feel like a winner owning a brand new Chrysler he was so excited about it he could feel good things coming his way already he'd picked the one he wanted 70,000 Australian dollars he'd spoken to the dealer and organized when he was going to come in and do the paperwork everything was looking great for him then when he went to the dealership to sort it all out it turned out that he hadn't been in his current job for long enough so the loan / finance which he elected to do through the dealership couldn't be approved he came back looking pretty defeated but in my opinion being declined that loan was one of the luckiest things to ever happen to him this man should not be in charge of his own money eating out for lunch every single day and complaining about how poor slash broke you are no [ __ ] Sandra was that peanut and chicken kale salad with a side of pasta and extra bakery treat really worth it when they buy large fancy boat but can't afford the marina fees and upkeep expenses to maintain it or a $100 depth-finder so they don't run the mother duck ear aground people who also buy a million dollar yacht and buy the cheapest equipment for it because they really can't afford a ducking yacht period I work in the marine industry in my part of the world it's the newly hired on the oil rigs when the market is booming go out buy a truck with a $1,000 monthly payment then buy house with a $3,000 monthly payment then when the market drops they lose it all and their credit ends up ruined so it's harder to find a decent car slash place to live an old friend of mine we all call him friend a was in a rough place he had a job that couldn't really afford to get out of the slump he was in living paycheck-to-paycheck so my other friend friend B who owned a house offered to let him stay for free for a few months all friend I had to do was pay the internet bill $70 per month easy enough right well friend a decided that since he no longer had expenses he would just quit his job and play friend B's Xbox all day long and join a band lo and behold friend they ran out of money eventually now he owed friend B the internet bill and simply couldn't pay it instead of getting a job and paying it friend a still friend B's Xbox and pawned it then use the money to pay friend B the internet bill how he ever thought it would work who knows but that's the definition of terrible financial decisions we don't talk to friend day anymore edit well this blow-up figured I was late to the party but I suppose not an addition to the story is that about a year later friend a sent me a text begging me to help out his family because it was summer in Texas and their racy went out I had known the whole family most of my life so I loaned him my spare window see unit I knew what would happen but I wasn't using it and they needed it never saw it again and that was the last contact I ever had with him I know someone who uses rent-a-center I can't believe it's legal he's paying like $50 a month for the last three years for a ps4 and another $100 a month same time frame for a TV that's no more than $800 if he bought it but he keeps paying for it he could have bought multiple TVs and ps4 in this timeframe he recently posted on social media wanted people's opinions on if it's worth it question II knew on savings when you let a friend know how much you have saved and they ask why you aren't spending more because if I spent it I wouldn't have any saved that's how saving ducking works recently got in an argument with a friend about that they accidentally saw my bank statement my fault I forgot to put it away before they came to my friend since they discovered what I have in saving their always go back to it when I refused an activity because I find it too expensive I'm saving to pay driving lessons and then a new car to me this money isn't mine it's the car dealer and driver instructors so I can't spend it I even tried to explain it to them that it's to pay for future debts like credits in Reverse because sometimes weird stuff works they still don't understand the concept he I had a friend say a 400 and 1,000 statement I didn't realize I hadn't filed then proceeded to ask me the following week to loan her money to start a small business I suggested she speak with her own 400 and 1,000 administrator about borrowing from her own 401 thousand she didn't have one she couldn't get a loan from a bank because she had no collateral and absolutely putrid credit but she somehow thought I would mercifully hand over my retirement savings because I know her complaining on Facebook that you can't afford the $200 it will take to cover your kids school supplies this year but also posting a daily pic of your Starbucks drink this might get an T because I just need to vent it out one of my colleagues is probably the nicest man on the planet he's kind considerate and loyal you couldn't write a movie script for a better person no Rhodes Scholar but very hardworking and liked by everyone almost every person in his life takes horrendous advantage of him I can tell that he deeply fears being rejected by his loved ones and craves their approval and acceptance but it has crossed a line they have a joint income of over one hundred and fifty thousand dollars and yet are circling the drain in debt and can barely pay any bills they live in credit his wife is usually a decent person but when she says jump he asks how high this has resulted in numerous luxury shopping trips her mother moving in and being a complete leech on their lives vacations and they just had to buy two brand new vehicles last year with all the bells and whistles they can barely pay the mortgage and the house is a mid-sized fixed upper at least every week or two he comes in and I force out of him the latest thing they spent way too much money on almost everything is on pay installments even their utility bills he pays for five cell phones he usually can't drive his truck because there is no gas in it in the summer we have barbecues every week for about three to five dollars hotdogs are cheaper than burgers and there are times he doesn't have the $3 a 45 year old man with a six-figure income doesn't have three dollars two days after payday thankfully his kids are to list that there is a problem as it should be they are kids and don't need adult problems they get whatever they need for school my concern is that one day the bubble will burst repo companies will come in creditors are calling they are precariously close to the edge at all times all I can do is encourage him to get therapy and learn to say no but I can't force it so I worked at a grocery store for a years and the one thing I saw a lot of unfortunately was people putting food back for cigarettes when they have kids we didn't sell lottery tickets or alcohol but other stores in town did and heard the same stories a guy that I worked with sold his phone to pay his rent he got like $40 for it spent the next month without a phone unable to do business properly because he didn't have a way for people to contact him told me that he was short on rent / living check to check every month later told me he plans on taking out a four thousand dollar loan two thousand of it were to buy an old car he liked and the other 2000 was to revamp it decided he wanted to start to breed pet laws so paid three hundred bucks for a pitbull that then didn't mate with his female and was later run over decided to buy two Indian ringnecks birds because he wanted a pet then had to buy proper Cajun toys and has to now buy bird food and do generally upkeep on them he later sold one to cover his rent told me multiple stories about how whenever he came upon some extra cash he'd spend it by the next day he was proud of this - he told me how he once got a 100 dollars from a family member and then used it within the same night to have a steak dinner and go out for desserts afterwards when customers would leave him tips he'd use it to buy takeout food that night he bought a cat when he eventually got a phone he bought one for about $500 that's more than his paycheck told me he once wanted to give his wife money but she told to keep it because she didn't want to spend it so he literally threw it away bought a better fish

Channel: Best Posts & Comments

Views: 283,771

Rating: 4.9047179 out of 5

Keywords: r/ask reddit, r/ askreddit, best posts and comments, askreddit top posts, askreddit worst financial decisions, askreddit rich kids

Id: aqgAGD1p1Gc

Length: 14min 54sec (894 seconds)

Published: Thu Nov 14 2019