Home > Money Related Regrets

Money Related Regrets

September 6th, 2007 at 02:14 am

Earlier this week, I read this post on Blunt Money:

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This got me thinking about my own money-related regrets, and I thought I'd share them here.

1. I rented for over 15 years. I don't even want to think how much that rent totals up too, but I just did. I was at my last apartment 11 years with a rent around $400 a month: $52,800. Still, if I had purchased a house sooner, I wouldn't have been able to afford anything like where I am now. So maybe waiting had its advantages.

2. I ignored my finances while I was in my 20s and 30s. Now I'm 40ish and time seems to be going much faster now.

3. I bought a cash value life insurance policy. This was my first investment decision, and I think it probably wasn't the best decision.

4. I love electronic gadgets like MP3 players, TiVo, and other such things. And sometimes those "must have" purchases sit around unused after a few months. A perfect example is my PDA. I just had to have it, and now it seems too big to even bother carrying around.

The rest are car related.

5. When my previous car was paid off, I didn't apply my payment to savings. I just kept the extra money in my checking account and enjoyed having the extra money for splurges. I eventually did start saving, but I wasted a few years before doing so. Big mistake.

These last two regrets are ones I am living with now.

6. Taking out a car loan again. I should have driven my Sunfire into the ground, but I wanted something newer and safer. Now I'm adjusting to having a payment again and worried I may have over-extended myself.

7. I bought a vehicle with poor gas mileage because I wanted something to haul things in. This has forced me to start combining trips and has virtually put an end to quick jaunts to the store. So in that respect, perhaps it is good that I am conserving more.

I'm sure I could come up with more regrets given time! Do you have any?

5 Responses to “Money Related Regrets”

  1. starfishy Says:

    Interesting post - thanks for sharing. I've recently been pondering this very subject. Now you've got me thinking!

  2. Ima saver Says:

    I can't think of any. I bought my first house at age 21 and that was the best thing I ever did.

  3. Carolina Bound Says:

    Oh boy, do I have regrets!

    The house I DIDN'T buy when I was first married --

    The hosing I took in the divorce --

    A year (and $$$) wasted working toward a teaching certificate I didn't get --

    Taking too long to learn how to be frugal --

    Never having the confidence to go after a better-paying job.

  4. Broken Arrow Says:

    Yeah, count me in as another person who has plenty of financial regrets.

    But hey, what's important is that we've turned around now right? Better now than later.

    If it makes anyone feel any better, I don't necessarily think that renting is that much worse off than buying. It just depends... and very likely, I'll end up renting myself.

  5. Amber Says:

    Great post, I can think of a number of things but now that everything has turned around I want to stay positive and look at where I am going and not where I have been

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