What were your biggest financial mistakes?

[Anonymous]

Mine is the opposite, but I regret not spending a bit MORE on my house. I was cheap and didnt want to add on a garage... I regret that so much!

[Anonymous]

Only buying a $500K of NVDA stock 5 years ago. I debated going all in with $1.3M worth of stock but unfortunately decided to spend the other $800K on a vacation house on BHI instead. The house has been great but I could have bought a lot more houses if I had put the entire amount into NVDA back in 2019. Oh well…..live and learn.

[Anonymous]

Not keeping my townhouse as rental property.

[Anonymous]

Not getting the screened in porch pre-pandemic. Will never be able to afford it now.

[Anonymous]

None. Unless being frugal and investing wisely counts as erring on the side of not enjoying Life enough. We don't feel deprived, so I'll go with none.

[Anonymous]

Selling our Meta stock last year

[Anonymous]

Sold btc in 2012 after mining a bunch
Sold NVDA and AMD in 2016
Too conservative with buying a house before prices shot up

[Anonymous]

Anonymous wrote:I'll start:

1. When we bought our house two years ago, the interest rates just began to increase. So our mortgage rate is 5.5%. We could have bought it down to 4.5% if we had paid an additional $60k for a couple of points, and over the course of the loan that would have saved us $600k (we have a crazy high mortgage loan). But we thought that we could soon refinance into a 3.5% interest rate, so did not take that deal...

Now our plan is to pay off the mortgage aggressively, even though we would invest in the stock market if we had a lower interest rate.

2. We should have moved to our current area way sooner; then we could have bought a house way sooner and cheaper.

We're nearly the same except that my mortgage is at 4.25%. I too could have bought a house earlier but didn't just out of pure laziness and the fear of responsibility.

I send in extra money for my mortgate too. Aiming to pay if off in 15 years rather than 30.

[Anonymous]

Aggressively paying off a renovation cost instead of rolling the cost into a sub 3% mortgage. All in the name of low LTV. Meanwhile, could be socking it away in investments. So dumb.

[Anonymous]

Anonymous wrote:I'll start:

1. When we bought our house two years ago, the interest rates just began to increase. So our mortgage rate is 5.5%. We could have bought it down to 4.5% if we had paid an additional $60k for a couple of points, and over the course of the loan that would have saved us $600k (we have a crazy high mortgage loan). But we thought that we could soon refinance into a 3.5% interest rate, so did not take that deal...

Now our plan is to pay off the mortgage aggressively, even though we would invest in the stock market if we had a lower interest rate.

2. We should have moved to our current area way sooner; then we could have bought a house way sooner and cheaper.

I feel like your mistake was buying too much house.

[Anonymous]

Not buying a duplex in Boston in 2001 with dotcom money for the downpayment. Bought an audi instead ugh

[Anonymous]

I don’t have any major regrets and my husband has done a pretty good job on his own so I am more lucky for that than not, but I completely checked out of our finances for 14 years and I think if I had paid attention at all - I would have made some decisions that I liked and he’s also pretty conservative with the investment allocation he picks.

I’ve been doing YNAB for almost 1 year thanks to DCUM and it’s going great. I say it’s never too late. A year from now you may wish you started today.

[Anonymous]

Anonymous wrote:I don’t have any major regrets and my husband has done a pretty good job on his own so I am more lucky for that than not, but I completely checked out of our finances for 14 years and I think if I had paid attention at all - I would have made some decisions that I liked and he’s also pretty conservative with the investment allocation he picks.

I’ve been doing YNAB for almost 1 year thanks to DCUM and it’s going great. I say it’s never too late. A year from now you may wish you started today.

YNAB?

[Anonymous]

Anonymous wrote:Mine is the opposite, but I regret not spending a bit MORE on my house. I was cheap and didnt want to add on a garage... I regret that so much!

This. We heavily consider moving to a nicer home in 2018-2020 and wish we had just done it. Now we are staying put.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t have any major regrets and my husband has done a pretty good job on his own so I am more lucky for that than not, but I completely checked out of our finances for 14 years and I think if I had paid attention at all - I would have made some decisions that I liked and he’s also pretty conservative with the investment allocation he picks.

I’ve been doing YNAB for almost 1 year thanks to DCUM and it’s going great. I say it’s never too late. A year from now you may wish you started today.

YNAB?

You Need A Budget.

Can find it on the App Store. Great budgeting app.