In my debt story, I mentioned a few financial mistakes I made in the past. The truth is that I made a few more:
Not taking advantage of a good living situation: when I first came to Canada, I lived in a host family. For $ 800/month, I had room and board, all utilities included. As soon as I found a job, I moved-out to my own apartment and it was way more expensive.
If I had stayed another 6 months, I would have been able to save a lot of money. My financial situation would have also been very different.
Not considering a roommate: when I decided to move-out, having a roommate didn’t even cross my mind.
Never budgeting: I waited to be 25K in debt to start tracking my money!
Keeping-up with the Joneses: I charged items to my credit cards to keep-up appearances and “play the part”. I don’t even remember a fraction of what I bought….
Being in denial: this is the biggest mistake of all. By ignoring my debt, I thought it would just disappear….how stupid!
These financial mistakes are pretty common. I learned a lot from them -the hard way-.
What about you? What are some of the mistakes you made with your money?