Your dumbest financial mistakes

Nurses General Nursing

Published

Before nursing school, and maybe even after getting those nice nursing checks, what were some of the dumbest purchases made. Big or small. I have heard some good financial advice on this site. But people learn from our mistakes too. Most of my dumb mistakes came from being young. As a teen my boyfriend (now husband) and I took his last paycheck from gettting fired and went to six flags. Spent the whole check, not knowing the next time we would have money. Once graduating, we ate out at least 4 times a week until someone on this site made me aware as to how much I was actually spending(Family of 4). I thought nursing school would be a bad investment when I racked up loans not knowing if I was gonna pass. But it was probably the best investment.

My best friend bought a current year STANDARD suzuki forenza for over twenty grand right out of nursing school. It immediately depreciated and she ended up in an upside down situation when trying to trade it in the next year.

Specializes in School Nursing.

Wow- Timeshares are really the biggest legal scams out there. I've never known ANYONE who bought a timeshare that actually utilized it..

Up Vote Up Vote ×

Got sick, was told I had a year to live (and I thought it was a pretty good diagnosis), racked up a lot of medical bills, but, since I was dying, I just put everything on my credit cards. Why not? If I was going to croak they couldn't make my kid pay off the credit cards and he'd own the house free and clear.

Well, I didn't die, and then I got better, and I had to pay off those credit cards...and pay and pay and pay. Don't ever do that!

Up Vote Up Vote ×
Specializes in Cardiac Surgical ICU.
Instead of putting it into savings (once you've saved a 3-4 month savings cushion), you should instead put it into a Roth IRA, or better yet, your employer's 401(k)/503(b) plan.

eek! yeah true! Right now my biggest concerns are my student loans and a wedding!

Up Vote Up Vote ×
Specializes in Oncology, psychiatry, pulmonary, peds.

Dumbest financial mistake -- getting married.

Up Vote Up Vote ×

Mine will most likely be quitting my job and going to nursing school :) Although I'm willing to make the financial sacrifice.

Up Vote Up Vote ×
Specializes in OB.

Poor choice of ex-husbands - TWICE!

Up Vote Up Vote ×
Mine will most likely be quitting my job and going to nursing school :) Although I'm willing to make the financial sacrifice.

I estimate my return on investment for my school tuition to be 20,000% to date.

Up Vote Up Vote ×

Mine would have to be-I bought way back before there were alot of them. Mind u they were really " Cold Blooded" because they were rare. I bought a Range Rover. I loved it. I was young and ridding good , but when it was off warranty it was costing me an arm and a leg for repairs ,etc. . I think the headlights were $1,000 lol. Credit card balances started to climb because of it.

Up Vote Up Vote ×
Specializes in Med Surg.

Letting myself be convinced to put in a swimming pool. I figure between chemicals, water, and electricity I spend about $2000 dollars plus my time every summer keeping the thing clean. This past year I had to pay about 5k to have it replastered and painted. I have one teenager left a home. She and her friends will lay around beside the thing all day but act like they are allergic to the water. That's a hefty bill to pay for something that hardly gets used.

To top it off, while a pool will definitely raise your property taxes, it doesn't do a whole lot for resale value.

Up Vote Up Vote ×
Specializes in ER/EHR Trainer.

Co signing my kids college loans....now they are considered as part of my debt ratio! ugh Oh and being guarentor on my son's apartment-all of his late rental payments show up on my credit report!!!!!!

As for the timeshare people, I don't understand...I own four and love them! If you can't use it, book your week and put it on craig's list or post at the hospital for a rental fee. For the nurse letting it go to foreclosure...are you crazy? That will be on your credit report for 7 years! Don't do it!!!!! There are always options-sell on craig's list at a loss, or rent as I suggested. At least cover your maitenance fee.

M

Up Vote Up Vote ×
Specializes in OB-Gyn/Primary Care/Ambulatory Leadership.
Poor choice of ex-husbands - TWICE!

Sounds like your choice in EX-husbands is good; it's your choice in HUSBANDS that's poor.

Up Vote Up Vote ×
Specializes in Home Care.
For the nurse letting it go to foreclosure...are you crazy? That will be on your credit report for 7 years! Don't do it!!!!! There are always options-sell on craig's list at a loss, or rent as I suggested. At least cover your maitenance fee.

M

I don't care about my credit report, I don't plan on buying anything major in the next 7 years. I already have a house and will never again get a car loan. I also rarely use credit cards, I have 2 that work just fine for me.

Why worry about my credit report when I don't plan on obtaining a mortgage or car loan.

Up Vote Up Vote ×
+ Add a Comment