Bad Money Decision Confession #1
My husband was left with a $40,000 inheritance from his grandmother. His grandparents were very knowledgeable in the stock market and made a bit of money.
To this day, I wonder where it all went. I know $10,000 was given to his mother to pay off the loans that she took out to help my husband with college costs. We also used some to pay for summer school. We bought a 27″ TV and we bought a $3,500 computer because my husband is into videography and needed a good computer for it. I also remember that one credit card was paid off completely ($1600) and I think some more money went to another one.
But really - at least $10,000 of it I have NO IDEA where it went. That’s not good. But we were young (both were 21) and naive about money. I think probably most of it went to eating out and spending the money on frivolous items.
If I had known then what I have known now, that money would have been spent so much wiser.
But as they say…you live, and you learn.
Anyone else care to confess a bad money decision? 
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Posted: April 3rd, 2006 at 6:58 pm
I would have to say my speeding ticket is the worst decision I made. Initially I didn’t think it was a “financial decisions” but it definitely became one……here’s the rest of my bad decisions although there probably are more…
Posted: April 3rd, 2006 at 7:52 pm
On the same lines, when I (Mr. Medicated) finished school and took my job, I needed to relocate to a new city. In a matter of 6 weeks, I ran up about $10,000 in CC debt. Granted it was because I was broke and waiting for that first paycheck, but still, $10K. Don’t really remember exactly where it all went, but I definitely remember how long it is taking me to pay it off.
Great post! Look forward to reading more from your site!
Posted: July 20th, 2006 at 11:23 pm
[...] That was fun and it felt good to get a bad money decision off my chest a few days ago. Why not do it a few more times? [...]
Posted: March 16th, 2007 at 9:06 am
[...] for receiving an inheritance. Receiving an inheritance and blowing a chunk of it was my very first “confession” I ever did on this [...]