What is your most embarrassing financial confession?

arthurdick

same as you barbie, i remortgaged, , had lived in my house 5 years before doing this, but never did have any spare money after paying household bills and 2 credit cards each month...ok i did need carpets, new windows, a kitchen, a driveway and dropped kerb for the driveway, so i thought it wasnt a bad idea, but 20grand was too easy to borrow, so we spent that, got all tasks that needed doing, done, and had a few grand over,which went too easy, so we got another advance of 10grand, just for holidays and a car and fun, yep we had loads of fun and wild times, , but as they say, its best to regret the things you do rather than the things you dont do.... ok, i do regret it a bit, as i have 14 yrs left to pay it off, but my old man died in may this yr, he was only 78, it made me think, sod the regret, just enjoy the good memories..thats how i look at it,.

Mort

Took out a credit card when I was 18 and fell in love with spending on it, 33 years later have cleared it for the third and last time.
At my worst point I had three cards and once a month I went round the banks taking money from one to pay the bill on another, repeat three times.

FireWyrm

Mort wrote: »

Took out a credit card when I was 18 and fell in love with spending on it, 33 years later have cleared it for the third and last time.
At my worst point I had three cards and once a month I went round the banks taking money from one to pay the bill on another, repeat three times.

My mother called that 'robbing Peter to pay Paul'. Stupidest thing I ever did? I didn't learn from the useless financial imbeciles that were my parents. Growing up, we were forever under it. My mother kept a rolling pin behind the front door and the chain on...just incase the loansharks came knocking. We had everything on tick, we'd hide from the tally bloke, park the car miles away so it wouldn't get picked up by the finance company and 'fly a kite' had nothing to do with colourful plastic toys. Back in the old days before electronic transfers, my mother would cash a cheque knowing that it would bounce and then disconnect the phone when the bank started calling. I watched her spend £500 on her credit card for new clothes and refuse to buy me a mars bar because we couldn't afford it.

I didn't learn, now I'm 34 and I've been in debt on and off since I was old enough to earn money. Now, that's stupid.

Debt_free_by_2012

There are many stupid things that i've done, mostly spending money on expensive ridiculous looking clothes that were never worn!

immoral_angeluk

Made the mistake of not closing both of my credit cards when they were paid off, but kept them for 'emergencies'.

Sadly a period of anxiety/depression has seen me back at square one and worse, after doing a BT and again, running up the other card.

:eek:

LillythePink

Mine is the same as others....clearing a cc with a consolidation loan then spending again on them almost up to the limit - did this twice so not only having the loan payments but the cc payments as well.

This was until a few years ago when I inherited some money and cleared everything - the worst part was having to fess up to hubby he wasn't pleased but I don't have a cc now - he has one but we only use it for some things then pay it off in full.

The only debt we have now is our mortgage....£352k!

Wellyboots6

Mine would have to be running up huge debts on various credit cards and overdrafts and having to be bailed out by the parents (they were sick of debt collectors knocking at the door), only to have to go to them this week and admit that I have done the exact same thing all over again

Thankfully this time they have not offered to bail me out, maybe now is the time I learn from my mistakes! Maybe...

wannabee_in_credit

Mine was my horrific 'buy now pay later' attitude at uni. Stupidly believing I'd be rich when I was 30. Roll on another 5 years from 30 and here I am 22k in debt...

AdmiralX

I make financial mistakes and wrong decisions all the time:threw a lot of money away for poorly done redecoration and maintenance, bought things that I needed but did not last till next year.

freebyfifty

I have done many, many stupid things with money since I was about the age of 17!!! I remember a cheque for £5 I'd paid to a work colleague bouncing and her telling me (in front of an entire office) and me bluffing my way through it... the bank's wrong, that should have been no problem, I'll have to phone and shout at them etc etc but the one thing I truly regret is taking a beautiful gold charm bracelet to cash convertors and getting very little for it, then telling my OH that I'd lost it It was full of charms that he, my parents and grandparents had bought me. That was one of my worst lows and I still didn't learn from it :mad: