What is the biggest financial mistake you made in your twenties?

[Terrance Curtis Beasley]

Well, I'm 21 now and I've made wise financial choices so far with a lot of advice from older people but when I first got hired by TSA at 19, I financed a car with a 18% APR I refinanced and it dropped to 10% but the fact I'm stuck in a loan period really makes me regret doing it.

nice t*ts

 

[Crayola Coyote]

I'm still in my 20s taking Ls more than the Knicks regular season

 

[agnosticlady]

Well, I'm 21 now and I've made wise financial choices so far with a lot of advice from older people but when I first got hired by TSA at 19, I financed a car with a 18% APR I refinanced and it dropped to 10% but the fact I'm stuck in a loan period really makes me regret doing it.

18% APR ????

 

[No Homo]

not buying a 3 family house(investment) after getting approved for a mortgage in my early to mid twenties.

playing around with credit card debt.

This right here..bought the wrong house as an investment(shouldve just backed out like i wanted to and looked for something else when i could have) ended up costing me a lot in time, money and credit..derailed me for 5+ years..that road to recovery though really showed me how to grind things out, be resourceful so i dont even consider it a regret...the learning experience through it all was priceless.

 

[Skooby]

I was 20 almost 19 years ago. I actually listened to my parents and now I wish I didn't cuz they didn't know what they were doing.

I racked up $17,000 in credit card debt. Most of it was from helping family. I was just 20/21 but I was the only one who had any sort of credit card. They told me you have to get in debt to build good credit. When they got a house I paid for the driveway to get paved, the shed to get built, new water heater, new furniture throughout the house and renovate the basement. I also put up the $3,000 needed for the down payment.

I gave my brother $5,000 when I was around 24. Him and his wife woke me up around 2 am talking about drug dealers was trying to kill them if they didn't come up with the money. I later found out they was lying, and used the money to buy the drugs so they could get high themselves.

 

[DaSk8D00D]

180k gone in three years !!! My goodness, breh. How you didn't talk to a financial advisor to assist you in managing 180k ?

I do he manages my money market account but he doesn't really get into my business like that. I hired him when I lived in Illinois then moved to AZ he'd call to check in on me every now & then but he never really said anything about spending habits n whatnot.

Before my mom died she took out a separate life insurance policy at work at the last minute (family friend randomly died of heat attack on a boat trip like a month earlier so she had a feeling) and I still have that in a trust, I just can't touch it without getting signed off on til I'm 30. So I still have a pretty considerable inheritance I'm just on my AI shyt for a while.

I also spent thousands on Cardo beats & studio time at the Saltmine Studios (best studio in az w/ premier clients, Wayne recorded lollipop here actually) which might've still been worth it had I actually finished everything up before I went broke. That's the WORST of it all, the fact that I didn't even really get to see my full potential, cuz I was putting in work over there & they were fukking with me for real. If I'd managed my spending better in other areas it wouldn't have hurt me as bad, but I didn't so I am where I am now just tryna claw my way back. Luckily I just pulled a sales job at a Honda autonation dealership (az brehs get at me!) so I have potential to pay off all my debt I just gotta put on my big boy pants and work my ass off til I'm back on point again

I've probably spent a pretty ridiculous amount on weed too but I have my card so I just consider that mandatory medical expenses :stephjax:. I'm cutting back considerably right now tho til I get my comfortable at my new job and more debt is paid off. Gotta make sacrifices :cowhand:

 

[Mac Casper]

$45k

 

[Diondon]

Not investing
Clubbing too damn much
That's it really

 

[DanniC]

I was 20 almost 19 years ago. I actually listened to my parents and now I wish I didn't cuz they didn't know what they were doing.

I racked up $17,000 in credit card debt. Most of it was from helping family. I was just 20/21 but I was the only one who had any sort of credit card. They told me you have to get in debt to build good credit. When they got a house I paid for the driveway to get paved, the shed to get built, new water heater, new furniture throughout the house and renovate the basement. I also put up the $3,000 needed for the down payment.

I gave my brother $5,000 when I was around 24. Him and his wife woke me up around 2 am talking about drug dealers was trying to kill them if they didn't come up with the money. I later found out they was lying, and used the money to buy the drugs so they could get high themselves.

Please tell me you didn't

 

[BaldingSoHard]

Yeah credit cards can be very confusing. When I had my first credit card I though after every bill cycle they reset your balance to it's original. So let's my limit is $3,000 I thought after every bill cycle it would go back to $3,000 .

 

[Skooby]

Please tell me you didn't

I did.


I'm debt free now though and have been for years. They don't even think about asking me for money cuz they know I'm not giving them shyt.

 

[Tropical Fantasy]

Wanted to treat myself on my 24th birthday so I bought a Rolex Datejust 69178 for 8k off James Edition...

About 2 weeks later I was with a friend of mine who's really into watches and he told me it was fugazi...

Got it appraised and it was confirmed fugazi...

Emailed James Edition and I wasnt the only one who got the fake watches. I got half my money back but I still lost 4 bands

At 24 that was a sizeable percentage of my savings

 

[Diondon]

I was 20 almost 19 years ago. I actually listened to my parents and now I wish I didn't cuz they didn't know what they were doing.

I racked up $17,000 in credit card debt. Most of it was from helping family. I was just 20/21 but I was the only one who had any sort of credit card. They told me you have to get in debt to build good credit. When they got a house I paid for the driveway to get paved, the shed to get built, new water heater, new furniture throughout the house and renovate the basement. I also put up the $3,000 needed for the down payment.

I gave my brother $5,000 when I was around 24. Him and his wife woke me up around 2 am talking about drug dealers was trying to kill them if they didn't come up with the money. I later found out they was lying, and used the money to buy the drugs so they could get high themselves.

mannnnn family can get cut off too, what the hell

 

[Skooby]

mannnnn family can get cut off too, what the hell

I have cut them off. I get my nieces and nephews gifts, but that's it. Other than that I can give free advice, but they will never get money from me again.

 

[Hans Wurst]

using bittorrent and getting fined 5000€