what was your #1 money mistake?

[Anonymous]

Taking the first job I was offered once the company I worked for was bought out and moved to another state. Job I took was terrible and if I had jsut waited to close down operations, I would have made a huge stay bonus and had time to find a better job.

[Anonymous]

Anonymous wrote:

Homeowning is not All That. Find a nice little rental in a good school district, invest your mortgage payment and call it a day.

This is exactly what we hope to do. The american dream of owning a home is completely overrated.

Us too!

[Anonymous]

Should have married my ex-BF!

He's now CFO of the company we used to work for. I love DH and adore DC, of course, but if we're talking strictly finances, I lost out on millions with my nuptial decision!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marrying DH.

Me, too!!

Me, three!

Me four.

When we married, I had $$ in a 401k, half ownership of a condo, and no debt other than mortgage, student loans, and a few remaining car payments. He came in with defaulted student loans, tons of debt (mostly in collections), no retirement savings, an old 'fixer-upper' car, and a love of eating out.

[Anonymous]

Anonymous wrote:Not investing more when I had a high paying job. Spent way too much on clothes, travel and other crap. Compared to others I think that I am fine, but if DH were to get sick, leave his job or leave I would be in a bit of a pickle with two kids and a $6,000 mortgage payment.

Wow. We make $400,000 a year and our mortgage payment is a hair under $3,000. I'd be a nervous wreck with double that.

[Anonymous]

Anonymous wrote:

Homeowning is not All That. Find a nice little rental in a good school district, invest your mortgage payment and call it a day.

This is exactly what we hope to do. The american dream of owning a home is completely overrated.

Not for those of us who bought 12 or 14 years ago. Our mortgages are more than half paid off already.

[Anonymous]

Anonymous wrote:I have to say, no one could have predicted the house situation. The prices just kept rising, and everyone had this feeling that they would be somehow "shut out" of the home buying process. It really is all timing. We were extremely fortunate in that regard (I'll spare you details), but most of America was not nearly as fortunate about timing as we were. Really, it was all timing. Who knew.

Quite a few predicted it, actually. It is all timing but I think we all know that. You really have to be pretty idiotic about economics and major financial decisions to believe that "real estate will only go up".

[Anonymous]

Buying an extended car warranty. Sucker.

[Anonymous]

buying a house in the state we lived in before moving here. It's been almost a year and we still haven't sold it. But at the time, we had planned on staying there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Giving up career to become a SAHM cause my husband had a high paying and successful job. Then he becomes mentally unstable (bi-polar) in his 40's and wastes all our money away so we are now starting from scratch. Wish I had a career to fall back on and wish I had seen this coming (or wasn't so blind and naive)......

Holy sh$# my worst nightmare come true.

Happens a lot.

Which is why I am holding on to deal life to my very boring GS-12 job. I get to see my kids and if the worst happens we will have something to fall back on.

Yeah, me too. Glad to hear I am not the only one. I keep my sort of boring gs14 job because I am just so risk averse. WhAt if dh ran away?

[Anonymous]

Inherited some money (not a lot, but still) and dribbled it away on expenses rather than investing it.

Every time I see one of those charts showing what $10,000 would be worth today if you'd invested it in X fund, I feel a pang.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Homeowning is not All That. Find a nice little rental in a good school district, invest your mortgage payment and call it a day.

This is exactly what we hope to do. The american dream of owning a home is completely overrated.

Not for those of us who bought 12 or 14 years ago. Our mortgages are more than half paid off already.

And it may have been true 12-14 years ago - but not anymore. Especially if mortgage interest deduction is done away with.

[Anonymous]

Take away the mortgage deduction, I don't care. We only pay $2,000 a year in mortgage interest.

[Anonymous]

Having kids.

Financially kids are draining. Don't get me wrong, I love my rugrats, but I am SO HAPPY that my youngest will be in full day kindergarten this fall.

[Anonymous]

Being a SAHM for four years. It really does a number on your earning power.