Have you ever done something dumb with money? I definitely have and if we are all honest with ourselves the answer is an unequivocal YES! Just because I am a financial coach does not mean I was born with financial knowledge and discipline, I had to learn it. To prove it, I have typed below my top 10 confessions of money mistakes that I have made:
- I have bought something on sale and convinced myself that I was saving money.
- I have experienced buyer’s remorse while pulling out of the store parking lot.
- I have gotten house fever and bought the first property I liked with no money down.
- I have gotten a store credit card just for the initial 10% savings.
- I have bought things or invested in funds because a co-worker or friend said “It was a good idea.”
- I have bought things I did not want or need to impress people.
- I have overdrawn my checking account using my debit card.
- I have gone shopping and made purchases when I was down just to “feel better”.
- I have signed up for a service without reading the fine print and paid the “gotcha” fees.
- I have believed that were was such a thing as good debt.
If you have made any of these financial mistakes I hope it gives you comfort that you are not alone. I like to think that these mistakes made me qualified to become a financial coach and teach on finances! You are not a bad person for doing dumb things with money. The point is that you can learn how to manage your finances better and not repeat your mistakes. Remember, your situation does not have to be permanent! What happened in the past can not be changed, but going forward you can control how well you handle your finances.
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