Share a financial horror story!

edinburgher

My colleague x is moaning about money again and frankly it's doing my head in. We've all had money woes (he takes the biscuit) and lord knows, I've spent enough days on the DFW board.

Normally I wouldn't discuss someone else's issues, but a) it's entirely anonymous and b) he spends a good 25 mins a day telling us about them, so fair game if you ask me.

X is 55+, has remortgaged twice, is currently taking a payment holiday on an interest only mortgage (with no provision to pay off the capital) and will be essentially homeless at about 65. He continues to spend on credit cards and doesn't appear to have had a positive bank balance in a decade yet spends considerably more on discretionary items than anyone else in our office seems to. All this and he blames the bank for his predicaments!

Anyone else got any financial horror stories?

tangyfog

I lost my first 50k when I was 30. trading stocks and shares.

I lost my second 50k when I was 38. selling a house in middle of the housing crash!

I also lost 4K to a conman who sold me a oil well prospecting business op.

I got out of buying some doggy land investment scheme for green belt! Saved 20k!

spadoosh

Lehman Brothers Holdings
Assets: $691 billion
Date of filing: 09/15/08

Washington Mutual
Assets: $327.9 billion
Date of filing: 09/26/08

WorldCom
Assets: $103.9 billion
Date of filing: 07/21/02

General Motors
Assets: $91 billion
Date of filing: 6/1/09

Enron
Assets: $65.5 billion
Date of filing: 12/02/01

Conseco
Assets: $61 billion
Date of filing: 12/17/02

Chrysler
Assets: $39 billion
Date of filing: 04/30/09

Thornburg Mortgage
Assets: $36.5 billion
Date of filing: 05/01/09

Pacific Gas and Electric Co.
Assets: $36 billion
Date of filing: 04/06/01

Texaco
Assets: $34.9 billion
Date of filing: 04/12/87

edinburgher

Not quite what I was going for spadoosh, but very good

spadoosh

would try and share some local horror stories but cant find them as easy and bored of looking now.

Tell you colleague to stop being an idiot and if he is always going to spned his money on frivalties then he will always be complaing about his money situation!

tangyfog

Also I could be mr X! Dont look back now

edinburgher

Tell you colleague to stop being an idiot and if he is always going to spned his money on frivalties then he will always be complaing about his money situation!

Like I said - it's all the bank's fault - he's entirely blameless

z1a

Tangy

"I got out of buying some doggy land investment scheme for green belt! Saved 20k! "

Is that for dogging?