Other financial mistakes I made

As previously mentioned here and here, I made plenty of financial mistakes in the past. I see them as a learning experience. I wouldn’t be where I am today, if I hadn’t made these mistakes. I can’t say for sure that I would be in a better situation either.

To be honest, I made a few more mistakes:

  • Not negotiating my salary or asking for a raise: This is a bit of a cultural trait. In France, where unemployment is very high, it is not the norm to ask for more money. If you do, you are usually turned down, and it is not well-perceived. It took me a long time to feel comfortable asking for more, but I left thousands of dollars behind.
  • Not investing sooner. My first experience with investing was so dreadful it resulted in me not investing my money for a few years. I let fear rule me, instead of educating myself. I also left growth opportunities behind.
  • Banking on money I didn’t have. Back in 2008-2009, I was self-employed as a sole proprietorship. In terms of Canada Pension Plan (CPP) contributions, it meant I had to pay double. When I filed my tax return, I thought I would receive a refund and I had made plans for it. To my huge surprise, I actually owed $ 1 200, because of the CPP amount. Tax refund, bonus, raise, lottery winnings….don’t bank on them until you actually have them!

What about you? What financial mistakes have you made?

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