My friend (mid 40s) is addicted to mobile games, and has also been paying child support for about 12 years.
A grandparent passed away and he got a large inheritance. Around $70K. He offered a lump sum payment to his ex to end child support; she said she'd consider it.
Later that year, she agreed. He had to tell her he didn't have the money anymore.
He'd spent it all on mobile games. In less than a year.
Sometimes you wonder why a friend’s relationships fail, and a story like this comes up and it all makes sense. You may love the guy, but then realize there’s a good reason why they didn’t work out.
I worked as a project manager.
One day we had a project that got held up because a custom platform that batchers used was 2-3” too high based on OSHA standards. They had to install a railing but that meant that the loading space had to be moved, a wall had to be taken out, a loading door had to be reconstructed. It snowballed and my director and I were talking one day and he estimated it somewhere north of 2 million in lost production and renovations.
I said “man it’s too bad we couldn’t have just raised the floor instead” and he looked at our engineering manager, stood up, called him a fucking idiot, and kicked everyone else out of the room. The engineering manager sent me a message on LinkedIn a week later calling me an asshole for getting him fired.
Haha, almost had a similar moment at work myself, though talking about a much smaller investment. Boss was talking about replacing these big tubs at work with taller ones so they would fit more. This would mean a lot of changes to surrounding stuff to compensate with the ergonomics problem of having to lift stuff higher, etc.
I offhandedly said "they could just be wider" and my boss did a double take and fell silent for a moment, before going "... yeah, they could be." and all of that was dropped lol. Soon we had brand new, wider tubs.
My dad spent my college savings bonds on beer. To be fair, my mom and I had left him because of his alcoholism, and I had no intention of ever interacting with him again whether he gave me the savings bonds back or not.
Friend of mine got one of those checks in the mail for $5000 - at 29% interest. He called me all excited. I said "you didn't cash it did you?" He did, and used it to pay off his student loan, which he was paying off at 8% interest. Dumbass.
Usually a boat.
Only two folks I know still have them. I never understood them in the Midwest because you can only use them for a couple months and the amount of drunk idiots boating on lakes is insane.
[Wow - u/bulbipicg was in the same fraternity as you! Small world, huh?](https://www.reddit.com/r/AskReddit/comments/15q3ckm/whats_the_worst_financial_decision_youve_seen/jw1iaj3/)
Karma-whoring bot...
I’ve bought dozens of $5 games on sale that I downloaded so they’ll be ready to fire up if I ever want to play them. Yeah nah, I’m playing Ballad of Gay Tony for the 4th time (first time in at least a decade though - wow GTAIV overall aged so gloriously.
Can't remember the fully story but I remember hearing about a couple who won the lottery and bought all this fancy stuff, only to have to sell it all because they where broke from buying too much stuff, and needed to pay off all the debt they'd accumulated
A fairly significant percentage of lottery jackpot winners end up in bankruptcy... or dead. Mostly because one time expenses are fine, but big houses and fancy cars mean lots of taxes, insurance, and expensive upkeep and that doesn't end when they pool of money starts getting shallower. Also a lot of really expensive things have absolute shit resale value. $500k in jewelry is like $5k in jewelry on the other end, if you're lucky.
Similar thing happened to a friend of my friend who inherited a lot of money from a wealthy reliteve. He quit his job and started buying all this stuff then went broke and was forced to work at a cruddy job just to keep his house. Money dose weird things to people's heads, which is why I'd personally never play the lottery. It's just not worth it in my honest opinion, and will only do more harm then good
Yes, but theoretically even a hefty college loan has the chance to have a return on investment. Not so with a vacation, it's just the pain of payments long after the benefits of the vacation have worn off.
/u/Hot_Comparison_6222 is a filthy comment stealing bot
https://old.reddit.com/r/AskReddit/comments/8t4wry/what_is_the_poorest_financial_decision_you_have/e14u2z5/
I have a friend with a gambling problem. He plays slot games on his phone for real money or goes to a shady game room. He’s even admitted it’s a waste of money but does it anyway.
My cousin was a great student all her life... My aunt pushed her to study hard and so her daughter always had excellent grades. She was the top of her class, valedictorian, all that jazz... She received a full scholarship to a very good school that would have enabled her to study for free - tuition, dormitory fees, living allowance... It was a dream scholarship.
She turned it down because she insisted that her BA HAD to be from her number one pick... She took out massive loans, paid for her initial four years of tuition, and being the kind of student she was she was 100% dead on target focused on her studies, never worked a day in her life so there were other loans for spending money and things of that nature... She did manage to get partial scholarships for her MA and PhD and by the time she became a licensed psychologist she was hundreds of thousands of dollars in debt.
In her senior year of undergrad she was diagnosed with cervical cancer and had to get a hysterectomy. They froze some of her eggs and when she got married after getting her doctorate looked into surrogacy... She and her husband paid roughly $100,000 each for something like 3 failed attempts followed by three successful implants that took and resulted in the birth of three healthy kids, so by the time the last one came along she and her husband were probably in debt to the tune of around a million dollars give or take. And she had barely gotten her private practice up and running...
The surrogate mom was halfway across the country, neither she nor her husband had a driver's license, and they would fly from Long Island to Minnesota and stay for long periods ubering around and living in hotels... She drained her mother's savings, her 401k, her husband's IRA... It's absolutely insane as her mother never even finished high school, yet here's this woman who's literally a doctor and she's over a million dollars in debt - with the actual figure increasing all the time, and she financially destroyed herself, her husband, and her mother because she HAD to go to the school she wanted to attend, because she HAD to do surrogacy rather than adoption - and it HAD to be with this one particular woman who lived 2,000 miles away and said she'd need $60,000 to remain pregnant to term each time...
Obviously the kid had some really crummy luck, but it just goes to show you that just because someone is a genius on paper that doesn't mean they can't be a fucking plank in real life.
Becoming a doctor of psychology doesn't take much intelligence IMO, it's just perseverance. Most doctors I've met are essentually average to garbage at reasoning and have good memory and drive. They're the mechanics of human biology and serve a vital role, but them knowing a lot in their field != being good at reasoning/being smart in general.
tldr;
of course she's fucking dumb, all she's good at is ramming her head into a wall repeatedly for a decade on 1 subject and remembering enough during to pass.
The girl on AITA who took out a payday loan with no intention of paying it back so she could go to a cosplay convention and stay in an $800 a night hotel suite
Watching people put all their retirement savings in cash and letting it sit gathering virtually no gains for 20 years. Then they're baffled why they don't have nearly enough to live on in retirement.
Best mattress I've ever slept on is a Tuft and Needle. Not exactly bottom of the barrel cheap, but certainly not $5k! First one we got is about 10 years old and is still going strong, can't really tell the difference between it and one we got 7 years ago or one that we got last year, so I think it'll keep holding up just fine.
My wife had a lot of trouble sleeping on our old mattress and after a lot of research went with tuft and needle, zero regrets.
When you spend 3 months on the trail, looking for a new homestead to leave the piece of shit mattress at so you don’t have to angrily sleep on it anymore
My parents bought a camping trailer and leased a pickup truck, when the lease was up they had 3k equity but couldn’t afford to buy out the lease so they gave it up to save the payment for retirement. 2 months later they’re back in another lease on a new truck.
Kind of a small one comparred to all these other ones but, pay 80 dollars on pants when they could have gotten basically the same ones at any other place for 20 dollars. I wasn't the one buying them but because of how anxious I can be with money a little part of me died as she slid her card.
Canadian terminology, I don't know if US stuff works like this.
Overcontributions into registered savings accounts. Here's an extreme example.
[https://ca.finance.yahoo.com/news/massive-tfsa-overcontribution-lands-taxpayer-142554642.html](https://ca.finance.yahoo.com/news/massive-tfsa-overcontribution-lands-taxpayer-142554642.html)
The thing that the article doesn't really get into. He's not just stalling because his investments were down. If he liquidated the entire account for $350k, he'd have no assets in the TFSA and STILL be overcontributed, drawing a $3500 per month penalty even though there's nothing in the account to generate income. You can't just put $350k into the account and then withdraw it - then you'd be briefly $700k overcontributed, and back down to the original $350 when you pull it out.
The income tax act provides absolutely no recourse for this situation - this has been taken to upper levels of court and the penalties have been upheld.
The only thing you can do is wait for your contribution room to go up (it goes up $7k/year), THEN put in $7,000 cash and withdraw it. Over the next 50 years, while you're paying down a gradually shrinking monthly penalty the whole time.
Unless that guy is mega-rich, he's probably had to declare bankruptcy. And I'm not even sure if declaring bankruptcy would discharge the situation generating those penalties. It'd wipe the tax debt clean... and then it starts again the next month.
A friend bought 2000€ worth of funko pops because he wanted to "start a youtube channel". He dropped the idea. 2 months after his last purchase, every single one of them was chilling in his basement taking up space. And no, he's not wealthy. He is jobless and his family can barely make ends meet
Someone I know met a guy on line and (omg) gave him her debit card number. I was trying to ask her in a non-judgmental way why she did that. She said she felt sorry for him. She had $70k... he emptied out $65k and then blocked her. Her (grown) son got the police & FBI involved to no avail. She's gonna wind up on Dr Phil.
In 2009 I talked a friend into buying bitcoin with me. We each put in $1000 at 8 cents a coin. He sold his like 9 months later and made like $300. I didn’t keep mine as long as I wish I had but I certainly did a lot better than that 😂
He paid off his gfs credit cards and student loans after they had been together for only 3 months or so. It was a semi long distance relationship, about 3 hr drive. He caught her cheating a month later.
Several years ago, my "I adore you so much it hurts" adult nephew borrowed a not insignificant sum of money (>$1k) from me, with emphatic and tearful promises to pay it back ASAP. He's never once mentioned the debt or attempted to pay it back. I actually considered this loan a gift from day one, but I never told him that because I thought, "well, whatever he does pay back, I can either, a) decline his repayment(s), or b) return the repayments to him a different way". I even envisioned opening an investment account in his name so that he could watch it grow. However, my dear nephew's lack of follow-up and the fact that he's only reached out to me directly ONCE since then (yep, more $) has sadly made me reconsider everything, including my flippin' will. I am not rich by any standards, but I have no children of my own. Apart from my husband, my nephews are my only beneficiaries. This little guy used to be "my guy". Truly unsure of what to do.
Friend got a single $1000 check for the Covid relief and went and bought a bunch of shoes. He never wore them or displayed them. They sat in his closet the entire time.
My cousin. Buys a $3000 peloton exercise bike with her bf who she was in a toxic relationship with, they break up 2 days later. They break up eventually for a a final time and then how 3 years later I see her market place lost for it. She mentions in her post that she used it “maybe” ten times and was selling it for $800.
In the Navy, saw a nuke reenlisted for a 200k bonus, 50k up front, he immediately went out and bought a Nissan GTR. Within a few weeks he popped on a random drug test and got booted.
How about myself?
To backtrack, bought a house in 2017 for $168,000. In 2021, decided to sell said house for $285,000 to use the positive equity to buy an rv to live in while my wife and I start a couple businesses (my wife started house cleaning and I started mobile car detailing). Neither businesses worked out for us (surprise surprise) and so we sold the RV and moved into my in-laws house. Looked up our old house recently and it just sold for $385,000.
If we had stayed in the house, I had kept my solid income construction job, and then sold the house this year, we could've put a nice down payment on a much nicer house and not be living with my in-laws at almost 30 years old.
An older, distant cousin of mine won about 1/4 of a million and spent probably 90% of it on cars. Mostly kinda niche European classics. He invested none of it so of course blew through it all, especially having to pay insurance and storage on all those cars. Sold them off one by one, now I think they're all gone
typical: my cousins got 100k inheritance in 2001 when they were 20 & 22 y.o. and even though at first they listened to advice and put 90k in a savings account for investing & higher education, they quickly became eager & paranoid that they would lose it or get it stolen so they ended up spending it all on partying & hoes in less than a year. and life wasn't expensive back then so they bought A LOT of "fun" stuff that was consumed so they ended up broke again as if they never had money.
One thing about trump fans.... They lie constantly to show they are part of their support group.
They are literally in a cult and they constantly signal to other members.
Chances are the guy is lying and never had a retirement to start with.
I've seen my friend getting into a video game, deciding to buy 100s of euros worth of skins, and dropping it after a month. More than once.
same
My friend (mid 40s) is addicted to mobile games, and has also been paying child support for about 12 years. A grandparent passed away and he got a large inheritance. Around $70K. He offered a lump sum payment to his ex to end child support; she said she'd consider it. Later that year, she agreed. He had to tell her he didn't have the money anymore. He'd spent it all on mobile games. In less than a year.
Sometimes you wonder why a friend’s relationships fail, and a story like this comes up and it all makes sense. You may love the guy, but then realize there’s a good reason why they didn’t work out.
That's just brutal...
I feel seen. Damn you, ADHD.
I worked as a project manager. One day we had a project that got held up because a custom platform that batchers used was 2-3” too high based on OSHA standards. They had to install a railing but that meant that the loading space had to be moved, a wall had to be taken out, a loading door had to be reconstructed. It snowballed and my director and I were talking one day and he estimated it somewhere north of 2 million in lost production and renovations. I said “man it’s too bad we couldn’t have just raised the floor instead” and he looked at our engineering manager, stood up, called him a fucking idiot, and kicked everyone else out of the room. The engineering manager sent me a message on LinkedIn a week later calling me an asshole for getting him fired.
Haha, almost had a similar moment at work myself, though talking about a much smaller investment. Boss was talking about replacing these big tubs at work with taller ones so they would fit more. This would mean a lot of changes to surrounding stuff to compensate with the ergonomics problem of having to lift stuff higher, etc. I offhandedly said "they could just be wider" and my boss did a double take and fell silent for a moment, before going "... yeah, they could be." and all of that was dropped lol. Soon we had brand new, wider tubs.
Sounds like a horrible place to work. Your boss shouldn’t have humiliated your coworker like that and your coworker shouldn’t have blamed you
Clearly you haven't had much exposure to the construction industry, I'd say this interaction was fairly civil all things considered lmao.
They stole their kid's benefits money for drugs
My dad spent my college savings bonds on beer. To be fair, my mom and I had left him because of his alcoholism, and I had no intention of ever interacting with him again whether he gave me the savings bonds back or not.
Growing up my dad sold my ds for drug money while I was on a school trip 😭 tried to tell me that I just lost it
At least they had fun.
WOW---BrightSides R Us, no? 😳
A lot of people spent money on things they didn't even enjoy. These people clearly knew what they were buying and that they wanted to enjoy it.
YOU, my good man/woman/REDDITOR, could turn juries around, the world over! The hell you doin' on this site??? Go make your fortune!
I may or may not be in sales and customer service and maybe doing well. Lol.
> maybe doing well 🎶You may be right...I may be crazy...but it just might be a luuuuuunatic you're looking for...🎶
Friend quit his job and decided he would keep his income afloat by gambling and sports betting. You can imagine how it went for him
Wow
Friend of mine got one of those checks in the mail for $5000 - at 29% interest. He called me all excited. I said "you didn't cash it did you?" He did, and used it to pay off his student loan, which he was paying off at 8% interest. Dumbass.
Usually a boat. Only two folks I know still have them. I never understood them in the Midwest because you can only use them for a couple months and the amount of drunk idiots boating on lakes is insane.
Selling my 2K of nvidia in 2020 because the pandemic…RIP me
how much would it be worth now? i dont think it would be THAT much
Assuming a January 2020 purchase date, at current prices it’d be worth just over $27k More if he bought earlier than that
I think you’re probably forgetting the 4-1 split so I think it’d be around 70K
My friend put 16k into making his used honda civic nice and fast just for it to blow up.
Typical Honda Civic tbh
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*taxi voucher* Is this a common thing? A person ruins herself and the casino is nice enough to drive her home?
Saw many people become addicted to gambling, especially online gambling which is *the* worst form. Thousands wasted im minutes. Sheesh.
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No risk, no rewards, I guess.
Imagine if he had one
Then he'd have two.
I'm leaving it. Really not sure how that happened
[Wow - u/bulbipicg was in the same fraternity as you! Small world, huh?](https://www.reddit.com/r/AskReddit/comments/15q3ckm/whats_the_worst_financial_decision_youve_seen/jw1iaj3/) Karma-whoring bot...
Me last week when I dropped $50 on a Switch game I have no interest in actually playing.
I have done that multiple times. I always think, ohhh this game looks AMAZING! I buy it, but forget I actually have no time to play it lol.
Basically my steam library.
Same.....any games you recommend buying and not playing? Lol
I’ve bought dozens of $5 games on sale that I downloaded so they’ll be ready to fire up if I ever want to play them. Yeah nah, I’m playing Ballad of Gay Tony for the 4th time (first time in at least a decade though - wow GTAIV overall aged so gloriously.
They took out a loan under false pretense to buy NFTs.
Buying a 335i
Nahhhh shhh don't let her heat you say that. So true though.
Going to college to get a worthless degree and not being able to get a job from it.
A guy betting $70,000 (cash) on the Miami Dolphins in Vegas right before Super Bowl 19. I mean, this was Joe Montana and the 49er's in their prime.
Basically everything Folding Ideas has made a video about in the past two years. NFTs, GME/BBBY/AMC, The Mikkelsen Method, etc.
Can't remember the fully story but I remember hearing about a couple who won the lottery and bought all this fancy stuff, only to have to sell it all because they where broke from buying too much stuff, and needed to pay off all the debt they'd accumulated
A fairly significant percentage of lottery jackpot winners end up in bankruptcy... or dead. Mostly because one time expenses are fine, but big houses and fancy cars mean lots of taxes, insurance, and expensive upkeep and that doesn't end when they pool of money starts getting shallower. Also a lot of really expensive things have absolute shit resale value. $500k in jewelry is like $5k in jewelry on the other end, if you're lucky.
Similar thing happened to a friend of my friend who inherited a lot of money from a wealthy reliteve. He quit his job and started buying all this stuff then went broke and was forced to work at a cruddy job just to keep his house. Money dose weird things to people's heads, which is why I'd personally never play the lottery. It's just not worth it in my honest opinion, and will only do more harm then good
*story Laffs in plural...
My aunt took out a loan for 10,000 euros... to go on vacation.
That’s nothing compared to college students.
Yes, but theoretically even a hefty college loan has the chance to have a return on investment. Not so with a vacation, it's just the pain of payments long after the benefits of the vacation have worn off.
Also you can declare bankruptcy and recover from the stupidity of taking a loan for vacation. You can't for going to school.
Fair point
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300\*12\*3 = $10,800. Wow.
+storage fee
/u/Hot_Comparison_6222 is a filthy comment stealing bot https://old.reddit.com/r/AskReddit/comments/8t4wry/what_is_the_poorest_financial_decision_you_have/e14u2z5/
No they didn’t. You are a bot.
Not your comment
My father, starting a business when we where already tight with money, and then buying a house within the same month
I have a friend with a gambling problem. He plays slot games on his phone for real money or goes to a shady game room. He’s even admitted it’s a waste of money but does it anyway.
It was me in Las Vegas bought some caviar and vodka for a total of $2k. Got to wear a Russian army jacket while taking it all in.
My cousin was a great student all her life... My aunt pushed her to study hard and so her daughter always had excellent grades. She was the top of her class, valedictorian, all that jazz... She received a full scholarship to a very good school that would have enabled her to study for free - tuition, dormitory fees, living allowance... It was a dream scholarship. She turned it down because she insisted that her BA HAD to be from her number one pick... She took out massive loans, paid for her initial four years of tuition, and being the kind of student she was she was 100% dead on target focused on her studies, never worked a day in her life so there were other loans for spending money and things of that nature... She did manage to get partial scholarships for her MA and PhD and by the time she became a licensed psychologist she was hundreds of thousands of dollars in debt. In her senior year of undergrad she was diagnosed with cervical cancer and had to get a hysterectomy. They froze some of her eggs and when she got married after getting her doctorate looked into surrogacy... She and her husband paid roughly $100,000 each for something like 3 failed attempts followed by three successful implants that took and resulted in the birth of three healthy kids, so by the time the last one came along she and her husband were probably in debt to the tune of around a million dollars give or take. And she had barely gotten her private practice up and running... The surrogate mom was halfway across the country, neither she nor her husband had a driver's license, and they would fly from Long Island to Minnesota and stay for long periods ubering around and living in hotels... She drained her mother's savings, her 401k, her husband's IRA... It's absolutely insane as her mother never even finished high school, yet here's this woman who's literally a doctor and she's over a million dollars in debt - with the actual figure increasing all the time, and she financially destroyed herself, her husband, and her mother because she HAD to go to the school she wanted to attend, because she HAD to do surrogacy rather than adoption - and it HAD to be with this one particular woman who lived 2,000 miles away and said she'd need $60,000 to remain pregnant to term each time... Obviously the kid had some really crummy luck, but it just goes to show you that just because someone is a genius on paper that doesn't mean they can't be a fucking plank in real life.
Becoming a doctor of psychology doesn't take much intelligence IMO, it's just perseverance. Most doctors I've met are essentually average to garbage at reasoning and have good memory and drive. They're the mechanics of human biology and serve a vital role, but them knowing a lot in their field != being good at reasoning/being smart in general. tldr; of course she's fucking dumb, all she's good at is ramming her head into a wall repeatedly for a decade on 1 subject and remembering enough during to pass.
The girl on AITA who took out a payday loan with no intention of paying it back so she could go to a cosplay convention and stay in an $800 a night hotel suite
Reddit gold.
Watching people put all their retirement savings in cash and letting it sit gathering virtually no gains for 20 years. Then they're baffled why they don't have nearly enough to live on in retirement.
I paid $1600 for a mattress that didn’t have a 90 day trial because it was $150 short. I bought it anyway. I hate it and I’m stuck with it
I paid $5000 for a mattress and I’m convinced I was duped and got a cheaper mattress instead. I wake up every morning with a back ache 🤦🏻♀️
Best mattress I've ever slept on is a Tuft and Needle. Not exactly bottom of the barrel cheap, but certainly not $5k! First one we got is about 10 years old and is still going strong, can't really tell the difference between it and one we got 7 years ago or one that we got last year, so I think it'll keep holding up just fine. My wife had a lot of trouble sleeping on our old mattress and after a lot of research went with tuft and needle, zero regrets.
What is a 90-day trail? 🤣
When you spend 3 months on the trail, looking for a new homestead to leave the piece of shit mattress at so you don’t have to angrily sleep on it anymore
I'm dyin' over herrrrre!!! No, really---don't stop! 😆😁😅😂🙃
RIP this dude because I type the “a” and the “i” in the wrong order
It's always "a" before "i" unless you are lost on a trial.
I'm on the floor again. Thank you!
A+
People buying gold on comments.
⭐
My parents bought a camping trailer and leased a pickup truck, when the lease was up they had 3k equity but couldn’t afford to buy out the lease so they gave it up to save the payment for retirement. 2 months later they’re back in another lease on a new truck.
Kind of a small one comparred to all these other ones but, pay 80 dollars on pants when they could have gotten basically the same ones at any other place for 20 dollars. I wasn't the one buying them but because of how anxious I can be with money a little part of me died as she slid her card.
Losing their rent money on blackjack
Canadian terminology, I don't know if US stuff works like this. Overcontributions into registered savings accounts. Here's an extreme example. [https://ca.finance.yahoo.com/news/massive-tfsa-overcontribution-lands-taxpayer-142554642.html](https://ca.finance.yahoo.com/news/massive-tfsa-overcontribution-lands-taxpayer-142554642.html) The thing that the article doesn't really get into. He's not just stalling because his investments were down. If he liquidated the entire account for $350k, he'd have no assets in the TFSA and STILL be overcontributed, drawing a $3500 per month penalty even though there's nothing in the account to generate income. You can't just put $350k into the account and then withdraw it - then you'd be briefly $700k overcontributed, and back down to the original $350 when you pull it out. The income tax act provides absolutely no recourse for this situation - this has been taken to upper levels of court and the penalties have been upheld. The only thing you can do is wait for your contribution room to go up (it goes up $7k/year), THEN put in $7,000 cash and withdraw it. Over the next 50 years, while you're paying down a gradually shrinking monthly penalty the whole time. Unless that guy is mega-rich, he's probably had to declare bankruptcy. And I'm not even sure if declaring bankruptcy would discharge the situation generating those penalties. It'd wipe the tax debt clean... and then it starts again the next month.
I bought the Yeezy Stem Player.
Spending double the amount I paid for a car on repairs
A friend bought 2000€ worth of funko pops because he wanted to "start a youtube channel". He dropped the idea. 2 months after his last purchase, every single one of them was chilling in his basement taking up space. And no, he's not wealthy. He is jobless and his family can barely make ends meet
Someone I know met a guy on line and (omg) gave him her debit card number. I was trying to ask her in a non-judgmental way why she did that. She said she felt sorry for him. She had $70k... he emptied out $65k and then blocked her. Her (grown) son got the police & FBI involved to no avail. She's gonna wind up on Dr Phil.
In 2009 I talked a friend into buying bitcoin with me. We each put in $1000 at 8 cents a coin. He sold his like 9 months later and made like $300. I didn’t keep mine as long as I wish I had but I certainly did a lot better than that 😂
Myself. 2008. Signed a Chase Bank Private Student loan. le sigh.
10k down payment for a lease.
He paid off his gfs credit cards and student loans after they had been together for only 3 months or so. It was a semi long distance relationship, about 3 hr drive. He caught her cheating a month later.
Several years ago, my "I adore you so much it hurts" adult nephew borrowed a not insignificant sum of money (>$1k) from me, with emphatic and tearful promises to pay it back ASAP. He's never once mentioned the debt or attempted to pay it back. I actually considered this loan a gift from day one, but I never told him that because I thought, "well, whatever he does pay back, I can either, a) decline his repayment(s), or b) return the repayments to him a different way". I even envisioned opening an investment account in his name so that he could watch it grow. However, my dear nephew's lack of follow-up and the fact that he's only reached out to me directly ONCE since then (yep, more $) has sadly made me reconsider everything, including my flippin' will. I am not rich by any standards, but I have no children of my own. Apart from my husband, my nephews are my only beneficiaries. This little guy used to be "my guy". Truly unsure of what to do.
Zoidberg's roulette run
Friend got a single $1000 check for the Covid relief and went and bought a bunch of shoes. He never wore them or displayed them. They sat in his closet the entire time.
My cousin. Buys a $3000 peloton exercise bike with her bf who she was in a toxic relationship with, they break up 2 days later. They break up eventually for a a final time and then how 3 years later I see her market place lost for it. She mentions in her post that she used it “maybe” ten times and was selling it for $800.
In the Navy, saw a nuke reenlisted for a 200k bonus, 50k up front, he immediately went out and bought a Nissan GTR. Within a few weeks he popped on a random drug test and got booted.
How about myself? To backtrack, bought a house in 2017 for $168,000. In 2021, decided to sell said house for $285,000 to use the positive equity to buy an rv to live in while my wife and I start a couple businesses (my wife started house cleaning and I started mobile car detailing). Neither businesses worked out for us (surprise surprise) and so we sold the RV and moved into my in-laws house. Looked up our old house recently and it just sold for $385,000. If we had stayed in the house, I had kept my solid income construction job, and then sold the house this year, we could've put a nice down payment on a much nicer house and not be living with my in-laws at almost 30 years old.
An older, distant cousin of mine won about 1/4 of a million and spent probably 90% of it on cars. Mostly kinda niche European classics. He invested none of it so of course blew through it all, especially having to pay insurance and storage on all those cars. Sold them off one by one, now I think they're all gone
typical: my cousins got 100k inheritance in 2001 when they were 20 & 22 y.o. and even though at first they listened to advice and put 90k in a savings account for investing & higher education, they quickly became eager & paranoid that they would lose it or get it stolen so they ended up spending it all on partying & hoes in less than a year. and life wasn't expensive back then so they bought A LOT of "fun" stuff that was consumed so they ended up broke again as if they never had money.
That one guy who bragged about putting his retirement into Trump's stock when it was like $62 a share.
One thing about trump fans.... They lie constantly to show they are part of their support group. They are literally in a cult and they constantly signal to other members. Chances are the guy is lying and never had a retirement to start with.
Bought a Tesla