People have been sharing the worst financial decisions they’ve heard someone make – 17 monetary mistakes to learn from
In these lean economic times, it’s important to make every penny count. However, some people don’t seem to have gotten the memo.
Rather than squirreling away for a rainy day, some people are splashing their cash on the riskiest of ventures. To live vicariously through these foolish big spenders, Coldblood_1 put the following question to r/AskUK:
‘What’s the worst financial decision you’ve heard someone make?’
Here are the top replies that will make accountants weep…
1.
‘I just saw in the UK legal advice subreddit some guy lent £11.5k to his personal trainer. So probably that’
-Kvark33
2.
‘My cousin got a 50k windfall off an uncle. They used this all to pay off their student finance loan…which was due to be written off in 2 years…’
-flyin_jimmy
3.
‘A friend gave £10k to an online catfish. When ‘she’ didn’t contact him again afterwards he sent another £10k “in case she didn’t get the first one”.
‘He was not rich, but had a £25k redundancy payment, was newly divorced, and lonely.’
-FreeBogwoppits
4.
‘My Mrs is on jury service, she ran out of drink, so used their vending machine. £3.40 FOR A FUCKING OASIS!!!!! I still haven’t forgiven her yet.’
-Mossy110423
5.
‘Spend the equivalent of a house deposit on a wedding. All the people I know who did this got divorced within a year.’
-chroniccomplexcase
6.
‘My friend inherited £60k and blew it up his nose. He’d never been wealthy and could have done a lot with it. He’s back living paycheque to paycheque now.’
-Quiet-Rabbit-524
7.
‘I know a guy who makes just about 100k but doesn’t believe in savings. His wife is also on about 40-45k.
‘He says there’s no point in saving.
‘No rainy day funds.
‘Actively tries to spend all his money every month. And not on investments either, just on stuff.’
-Pankratous
8.
‘I know someone who paid £3K to have their garden landscaped, it was a waste of money because he rented the property and moved out within 18 months.’
-Hill_of_Phil
9.
‘I work in Collections for a bank. Had a couple of customers recently whose spend on gambling in the last 90 days was over £12k – we see gambling problems a lot’
-Spiderplantmum