worst financial decision you ever made?

L1011 · 30-08-2019 08:50PM

Bought a brand new car on finance in 2008 as it was becoming quite obvious it was all going to end badly.

Was refused the manufacturer finance but BOI handed me the cash over within three days! So it was me *and* a multi billion valued financial institution acting unawares.

Still have it, though.

30-08-2019 08:53PM

L1011 wrote: »

Still have it, though.

Still paying it off? :pac:

Grab All Association · 30-08-2019 08:55PM

mr_fegelien wrote: »

That's really funny because I overdrew my account by €200 as a student (19yrs old) and BOI just sent me letters but then closed my account.

I checked my credit rating with the Irish Credit Bureau and I found no statements on me which is interesting.

What would have happened if you just flat out refused to pay it?

Exact same thing happened to me with the same bank and same amount. it was a phone contract I cancelled within a day due to poor coverage that took money out that bank account I wasn’t using for 5 months. Threatening letters made great firelighters. Never made the ICB database either. Wasn’t the banks fault or mine, it was those clowns at 3 Ireland.

wally1990 · 30-08-2019 08:58PM

Mehaffey1 wrote: »

Paying out £12,500 over two years back to a 'recruitment company'. Went in knowing the terms but was so desperate for a job at the time that I went along with it.

Interested to know about this

scwazrh · 30-08-2019 09:07PM

KathleenGrant wrote: »

Got married...

This and having kids at a young age .Completly hinders earning potential and costs a fortune .

Pipmae · 30-08-2019 09:17PM

Spending the best part of the proceeds of two SSIA saving accounts on cars. WTAF were we thinking..... :eek:

whiskeyman · 30-08-2019 09:37PM

scwazrh wrote: »

This and having kids at a young age .Completly hinders earning potential and costs a fortune .

May be the case, but I know many who have a fortune but left it too late to have kids, or are spending that fortune trying to have them.

Those kids are your fortune.

*High fives*

Atlantic Dawn · 30-08-2019 09:42PM

Being almost ready to sign on the line for an investment property yet 6 years later when the bust happened being unwilling to buy that same property for 30% of its price, I would have doubled my money in 2-3 years had I bought at the bust.

Mehaffey1 · 30-08-2019 10:33PM

wally1990 wrote: »

Mehaffey1 wrote: »

Paying out £12,500 over two years back to a 'recruitment company'. Went in knowing the terms but was so desperate for a job at the time that I went along with it.

Interested to know about this

I was one of many people recruited to work in agriculture overseas. Money was paid back direct debit from my wages and I went for the highest repayment options possible to be clear of the debt.

The package I paid for included the company overseas finding my job, education, flight out, visa and introductory food and essentials package.

I'm terribly bitter and wary of such things now. I managed just fine every step of the way but worked my ass off for two years for half the reward of anyone who went down the same employment route independently.

Happily though I've been through those times and now enjoy my work, life and money immensely, maybe even more so because of it.

puppieperson1 · 30-08-2019 10:36PM

worst financial decision is going to work 5 days a week commuting 2 hours a day - should have had a few sprogs and gone on the lone parents and got a house for nothing

Church on Tuesday · 30-08-2019 10:36PM

Any time I travel with Bus Éireann.

BazzyB · 30-08-2019 10:37PM

Bought a brand new car..because my perfectly fine car developed another oil leak after an engine rebuild and I lost sight of the big picture in a weekend of craziness. 3 year pcp to pay off now on a car I don't even really like. Lesson learned

ILoveYourVibes · 30-08-2019 10:39PM

mr_fegelien wrote: »

At any age? Doesn't have to be something like investing in bull**** stocks but rather even spending money on some frivolous purchase.

For me it has to be in 5th year when I didn't want to go to study in my school so I handed up the money to the school but skived for 2 hours every day for a month until it was over. I should have just kept it. It was €300 in an envelope that I handed in. They didn't even call my parents to tell them I wasn't attending cause they didn't know.

I kind of did the opposite of that.

I wanted to do a course but i wasn't sure. So i enrolled. And kept attending classes but i kept the fee for the first year almost then dropped out having not handed out a penny. I kept dodging them.

Then i dropped out they never came looking for it.

ILoveYourVibes · 30-08-2019 10:42PM

Church on Tuesday wrote: »

Any time I travel with Bus Éireann.

I know what you mean.

But then parking.gas and owning a car is just as expensive etc.

L1011 · 30-08-2019 10:42PM

Deleted User wrote: »

Still paying it off? :pac:

Even then, 11 year car loans weren't what they offered lads in their early 20s with zero repayment history (well, I had a credit card but it wasn't well managed to say the least).

5 year loan and paid off in time. With an insane amount of interest, double figures all the way through.

Forty Seven · 30-08-2019 10:53PM

Yamanoto wrote: »

Not buying property after the crash

Bought property after the crash after my silver and gold investments made me quite a lot during it. Property now being repossessed after a seperation.

Win some, lose some.

happyoutscan · 30-08-2019 10:56PM

Bank shares.

80s Child · 30-08-2019 11:00PM

_Brian wrote: »

Looking at bitcoin few years ago and was going to throw €100 in for a see.

Mentioned it to a friend and he pout me off.

Be worth few million now.

Same as. Sick

jimmytwotimes 2013 · 30-08-2019 11:05PM

Bought a house in 2006. At its lowest, house was worth 110k less than it cost. Now probably worth 60k less than it cost.

Would like to move but have to chip more off mortgage before that happens.

Living in Kerry so fluctuation not as pronounced as say Dublin.

With hindsight, cud have held off a year

MissD93 · 30-08-2019 11:18PM

Smoking cigarettes ðŸ˜“ I quit last January and can’t get over how much money I have now/money I spent over four years

31-08-2019 05:07AM

ILoveYourVibes wrote: »

Then i dropped out they never came looking for it.

Mental Note *Typed reminder, backed up to external drive and cloud* Don't lend money to ILoveYourVibes.

jaxxx · 31-08-2019 05:21AM

Gave the loch ness monster 3 fiddy.

theteal · 31-08-2019 05:44AM

Wedding shindig. Good fun and all but ultimately pointless - well apart from keeping herself happy. The list of stuff she wants done to the house could have easily been covered and a few holidays thrown in for that matter.

Probably best I don't keep mentioning that.

Richard Hillman · 31-08-2019 08:32AM

I spent over 10k on college fee's, got a degree and still ended up working in a non skilled, near minimum wage job :pac:

somesoldiers · 31-08-2019 08:39AM

Sold my house 4 years ago with the intention of building a house down home.

Underestimated how hard it would be to get a mortgage for a single earner with 3 “drains on income”, while the wife had 2 kids and got back to work the price per sq ft is now being quoted at €155 (from 90-100 4 years ago) and it all seems impossible now

Mad_maxx · 31-08-2019 08:44AM

Buying farmland in 2012 instead of two terraced houses in stoneybatter

One brings in 20k per year tax free and isn't worth a penny more than I paid for it

The other would bring in 50k gross today and have appreciated 80% plus in value in seven years

Sentimentality has no place in financial decision making, I bought the land as it was in the family years ago

Mad_maxx · 31-08-2019 08:46AM

L1011 wrote: »

Bought a brand new car on finance in 2008 as it was becoming quite obvious it was all going to end badly.

Was refused the manufacturer finance but BOI handed me the cash over within three days! So it was me *and* a multi billion valued financial institution acting unawares.

Still have it, though.

I don't get it, where's the problem?

Mad_maxx · 31-08-2019 08:49AM

BazzyB wrote: »

Bought a brand new car..because my perfectly fine car developed another oil leak after an engine rebuild and I lost sight of the big picture in a weekend of craziness. 3 year pcp to pay off now on a car I don't even really like. Lesson learned

So you replaced a problem car with a new one on ultra low interest

I don't see the problem?

km991148 · 31-08-2019 08:49AM

ILoveYourVibes wrote: »

I know what you mean.

But then parking.gas and owning a car is just as expensive etc.

lpg?

AlphabetCards · 31-08-2019 08:50AM

Maintaining a relationship with an absolute piece-of-**** golddigger of a woman for a good few years. Poorer for it now, but happier with a very kind, sweet and beautiful girl and never been happier.

worst financial decision you ever made?

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