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What do you do that’s financially foolish—but you do it anyway?

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Roboticus Aquarius
Roboticus Aquarius
10 months ago
  • Vacations. My wife is always right when she suggests another one.
  • Eating out.
  • I don’t budget. I hate budgeting; makes me feel restricted rather than in control. I do make forecasts though, and they tend to be very accurate.
  • I don’t have a spending limit for books. If I want a book, I buy it.
  • Move our car loans into the Heloc. The old cash flow was very thin for several years there, and this eased the pressure a lot. Then rolled the heloc into our new mortage. At least the rate is super low. And we intend to recharacterize the mortgage when we get some lump sums in the future.
  • I tip well. I try to tip 25% or more consistently. The annual cost is a few hundred dollars, and it makes a much bigger difference to them than it does to me.
Last edited 10 months ago by Roboticus Aquarius
Jim Wood
Jim Wood
10 months ago

Paying $150 a month for cable and high speed internet

Ginger Williams
Ginger Williams
1 year ago

Grocery shop without planning menus or checking pantry and freezer first. I try to balance this with a periodic no-grocery-shop week, eating some peculiar meals as I clear out the three half boxes of pasta, four bags of frozen stir fry veggies, and other miscellaneous items.

Blow $20 on Powerball tickets several times a year.

johntlim
johntlim
1 year ago

I pick a few individual stocks.

Carl Book
Carl Book
1 year ago

Buying the cheapest instead of the best value.

Mike Zaccardi
Mike Zaccardi
1 year ago

Classify all of these under the “Loss Aversion” umbrella. I’m the worst!

-Not enough auto insurance: I carry the least amount possible on my $2k 2008 Yaris. It’s about $20/month

-No financial advisor: While I’m a CFA, I should hire a good advisor at this point since I’m financially independent and run my own business. Not trying to be arrogant, but it’s not like I have no money anymore like I did when I was 22 years old.

-Avoid going to a therapist or specialist when a medical issue pops up. I depend too much on my body healing itself. Eventually, that won’t end well.

Edwin Belen
Edwin Belen
1 year ago

Buy more clothes and shoes than I need. Have gotten better over the last decade but still find myself buying more than I need.

Scrooge_McDuck88
Scrooge_McDuck88
1 year ago

New cars… 100%.

Rick Connor
Rick Connor
1 year ago

Drive extra miles to save a few cents on gas or groceries. The extra miles usually swamp the savings. I’m getting better at doing the cost trade, and trying to plan my trips and errands more effectively.

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