What's the biggest financial mistake you've ever made? How did it help you learn?

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Defaulted on a small loan of a million of dollars. My lender, the best of lenders, still supported me all the way. I'm now the leader of an entire country. Never give up.

likefunny

You win the entire Internet!

like

Not standing up to Partners who reallocated my Sales Revenue and Engagement Management credit to others up for Partner that needed an extra numbers boost.

I should have pitched a holy fit but I didn't. It happened multiple times, and when I was "up", my numbers weren't there.

Stupidist thing I've ever done.

likehelpful

Pwc4, it’s a ruthless game about who you know, who like you and how they can best leverage you. If that’s not there, they will find all sorts of excuses not to give it to you. Industry is a great option, you will finally get to have a normal life and be paid well.

like
Recent IconRecent

Not buying bitcoins 10 years ago

likefunnysmarthelpful

Funny, mine was not selling Ethereum 2 years ago

like

Well, since time =money, wasting time on my ex sociopathic bf.

likefunny

D25, still haven’t made her your ex?

Opened a tab at a strip club

likefunny

that's dedication😂😂😂😀

Not tracking how much I spend on dining out and alcohol! Also, buying new clothes instead of taking care and dry cleaning my current wardrobe.

likeuplifting

Love RTR unlimited, but really wish we could reserve items for specific dates. I’ll often find the perfect dress for a certain occasion, but it won’t be available in my size when i need it. Now if i find something, even if it’s a month from now, I’ll keep it until the occasion, but it takes up a slot the whole time :( any tips or workarounds?

My sugar baby

likefunny

Best post I have seen here.... You should have no regrets!!

Downloading UberEats/DoorDash.

It was a direct path to gaining twenty pounds.

likefunny

Can’t recommend it.

like

Buying a couch before I moved into my apartment that didn’t end up fitting...

funnylikeuplifting

It was a total Friends “PIVOT” moment looking back on it 😂

likefunny

Buying an old BMW instead of leasing new cars

likefunny

BMW enthusiast here. Started out with tuned E92 335i then F10 550i Dinan Stage 3 then F10 M5 Competition then now 800hp frozen F12 M6GC Competition (upgraded turbos, clutch pack, intake, downpipe, tune and chip). Biggest mistake was buying the M5 at the wrong time. These M models depreciate like a tank during the first 2-3.5 years. Buying around the 4-5 year old mark is the sweetspot. My M6GC MSRP was $156k in 2013. Bought it in 2018 for $58k

I also bought crypto in 2017 and didn't sell in Jan. 2018. Watched $100k in earnings come down to Zero like a 🤡

like

50k engagement ring

likefunnyhelpful

Well she had 5 properties

Getting married

likefunny

Sucker, I created that Ponzi scheme

like

Helping family.

likefunnyupliftinghelpful

Often “helping” with money isn’t solving the underlying problem.

like

Age 21-23, right after graduation in 2006. Frustrated that savings/emergency fund weren’t earning any money. Put them in a brokerage account with “conservative” index funds. Needed the cash in 2008-09 for engagement ring and wedding. Sold at a 30-40% loss after market tanked. Also ate short term CG on the one fund that performed. $15k in the grand scheme isn’t much but was really painful at the time. Carried CC for the first time ever (on a very low interest card) to finance honeymoon.

Lesson: Always match investment vehicle to the timeframe in which you may need the cash. Savings/emergency fund belongs in HYS or CD, not the market.

like

First year of grad school, I had about $5k in high interest (~19-%) CC debt. I was given the advice to take out extra student loans at 6% and pay off the CC. I took that advice... then about 2 weeks later, I landed a grad assistantship where they offered to pay 100% of my tuition. If i accepted the tuition waiver, I would have to pay back 100% of the student loans for that semester... and I already used $5k of the loan to pay off CCs. I couldn’t afford to repay the $5k and didn’t have anybody in my life that could help with the money, so I had to reject the tuition waiver and keep the $15k in student loans (~10k tuition, ~5k extra). Not being able to repay that $5k at the time cost me roughly an extra $10k. It killed me inside every month to have to make those student loan payments after graduation.

like

This isn't even a predictable one. At the time you only made the right choices.

like

Buying a $20K Blue Green Time Share due to a high pressure sales pitch for a free dinner. Thankfully they were on the EY list of investments we couldn’t have so got out of it during the 3 day cancellation period. Thank goodness. Will never let my husband go to another one!

likefunny

Trick I always use is to say I cannot authorize any purchases over x amount without my financial advisor and he/she is currently on a cruise ship on vacation. Works. Every. Time.

like

Invested 100K in my friend’s business and lost it all

likehelpful

holy shit!! did something similar, less money thou

like

I’ll admit it I bought Trojans, knowing damn well I needed Magnums. There was no returns once you try to put them on. Lesson learned! Drive the extra mile next time.

likefunny

This one needs a whole thread by itself

funny

I put $20k into an ICO. Would have made a fortune, but the exchange crashed right before my sell order was placed, and I never sold. Kept holding out hoping it would get better. Checked yesterday, and my $20k holdings are worth $85. 😂😂😂

likehelpfulfunny

Crypto coins based on proof of work blockchain only have value because of hype. They cannot scale to a degree that they can replace national currencies. They are fundamentally unstable. If they draw enough interest, they will crash.

like

Moving into an apartment where the rent is 40% of my salary

like

Pre or post tax? I was potentially considering moving to a studio where the rent is 40% of my take home... part of me thinks it’s not a good idea

I bought a flobee to cut my own hair to save money

funnylike

Cutting my own hair (I do it short so it's super easy) had easily saved me at least a few hundred every year.

Related Posts

Is anyone on Fisker? Seems like there is huge upside here and a lot of catalysts coming up

like

Any female 🐠 want to hang out? 24M here.

likeuplifting

help me find the next gig....Looking for small to medium sized marketing and design agency or start-up

scrappy culture
ability to initiate and execute ideas end to end
competitive pay
cool clients/projects
print and digital work
industries: media, art, consumer goods, retail, travel & leisure, lifestyle brands, self-help apps

drop agencies, start ups or firms

like

Lol have fun

Post Photo
likefunny

Anyone else struggle with the Managing Partner and Officer Manager duo that creates a toxic environment? Even more so, they are married and do not understand that the cultural issues in the office are largely created by them?

like

Has anyone tried to enforce a European non-compete/non-solicit (both foreign choice of law and venue) in the US? The employee moved with the company to the US 7 years ago and was never provided with an updated agreement. Assume for the sake of argument that the agreement is enforceable in the country of origin.

like

Hello Folks, How are you doing today
I joined the Cognizant three months back. Now I am getting a good opportunity, Will I get my reliving letter for 3 months + 3 months of notice period and Form-16 if I decide to resign?

like

What skills should marketers be developing right at this moment to set themselves up for success in the coming years?

like

Does the stub bonus after A2A promote have any variability? I know BAML hasn’t announced yet so looking at past examples

like

Hi All!

Love the community here :)

Can you tell me what are the TAL or MAL? What are the minimum & maximum times spent on each level? After how many years can I move to another level (analyst to consultant & consultant to manager)? @accenture

like

Hi,

My h1b petition was approved till September 2022. I was not able to get it stamped through previous employer and now my current employer is willing to transfer the H1b. Since the petition got expired can someone guide me what is the process for this ?

like

Hi Fishes- I have an offer from Deloitte for Bangalore location and Coforge has matched the same and joining location is Greater Noida which is near to my city and Bangalore is too far. Should I accept the coforge offer or join Deloitte as it's a bigger brand ??

likeuplifting

Salary range for G11?

Hi Fishes,

I am a quality assurance engineer with 2 years of experience. Wanted to know how can I switch to consulting ? Are there any courses that might help me or specifically have to get a degree to switch.
Kindly help.

like

I am having skills of Analytics but not getting job I know Excel and other tools also Power Bi, Google sheets, Google Data Studio, Python, My Sql in learning.

Sandbox CHICAGO. What y’all heard?

I too want to become elite and want to feel superior than anyone else. Please let me know what are the exact tech I should focus on how much in depth knowledge should I get to get a job in FAANG

funnylike

Hi Fishes,
I'm currently working as ETL tester @ Infosys, 5Yoe, cctc: 6.5
Going for my first switch, and got offer from CTS with 11.5 ctc as etl tester.
My lwd is jan 2nd.
I got trained in Selenium in java and i think my selenium concepts/understandings are good, need some brush up on testng.
So is it advicable to kick start and brushup Selenium+ TestNG concepts in 1 month and go for automation role interviews as i dont have experience in realtime automation projects. Good or bad idea?
TIA

like

I’m interested in going back to school for an analytics degree. I have a math & stat undergraduate degree and have been doing data science in my projects. Does anyone have recommendations for...

like

Does anyone know if McCombs does calls re: admissions decisions and do they usually come the day of the decision notification deadline?

like

Additional Posts in Consulting

Any of the female consultants out there been asked what their "rate" was when having a solo drink at the hotel bar? I mean, I can't help it that I'm popular...

like

Not a professional post but has anyone else who is into EDM strangely fallen in love with the chainsmokers? They are coming out with some good stuff lately

like
like

What's a decent Starwood hotel in NYC? Other than the Sheraton Times Square cause I can't survive being trampled again

like

Sunday travel. Tumi bag. QC35. Stainless coffee mug. Running shoes and jeans. Lulu top. What's the meaning of all this?

like

Currently a C at Deloitte (3.5 years since graduated UG) in my promotion year to SC. Being reached out to for project manager role at slalom. Would this be a good step up? Or stay put?

like

When leaving KPMG for another company, what are the payouts, if any? (Unused vacation days, etc) And is a 401k rollover required, or can you stay with Merrill Lynch?

like

has anyone participated in the MLT program? looking into it and would like to learn about the overall experience!

like

Are the six sigma certs actually worth it to do?

like

Has any of you had any luck joining another firm as a partner while not being one at your current firm?

like

If you start going out with someone, and they have anxiety-depression (or some other metal health challenge), when would you expect them to disclose? Date 3? A month or two in?

like

How do I get a free NYT subscription?

People posting questions like "blah blah blah blah ?? GO", proves that Donald Trump had fucked lots of women in past without a condom.

like

Thank you consulting life for all the gray hair creeping in. 😂

like

Do you guys tip for restaurant takeout?

like

Any recs for a good quality standing desk that doesn’t break the bank? Ideally looking for something on the larger side (debating if a corner / L shape desk would be better than a standard rectangle, but either way want plenty of room for monitors, 2 laptops, notebooks / paperwork etc). TIA for any recs and/or brands to avoid!

like

Serious Question: Why is it that people want kids? Trying to wrap my head and understand.

like

I graduated a little under 2 years ago, but I don’t feel as sharp as I was back in college. Is this normal? Lol

like

Just walked into the kitchen at the client and was hit with some nostalgia - someone warmed up a wild berry poptart in the toaster

likefunnyuplifting

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal