What (financial) mistakes have we made that we won’t do again?!

Mozette

I will never spend more than I earn, and if I want something I will save up for it first and buy it out of money I've got rather than on bloomin' credit cards, even if they are 0%
and I don't care if there is a Starbucks over the road, I do not need 3 bucket sized triple shot lattes ever day!!!!

wherediditallgo

I finally understand that when you see the term 'buy now, pay later', it means you really do pay if you haven't got the money to settle the debt in full.

The only credit I'm ever having again is a mortgage or my mail order catalogue, & that's only because they've said I've got to pay 25% up front from now on. Having to find that money is a big help in deciding whether I really need the thing in the first place.

Ytaya

Get a credit card for day to day spending after doing a balance transfer to my old one... and then never quite get around to paying off the day to day one in full :doh:

Shineyhappy

-Never to buy a flat with someone you dont trust
-Never get a joint account with that someone
-Dont have a credit card unless you WILL be paying it off in full at the end of the month.
-Cut up the cards when they are paid of or balance transfered.
-Dont trust an ex to do anything!

cats505cats

I think I can truely say and agree with all of the above!!!
I will never have a credit card again or take out consilidation loans
I will spend within my means!!
Waiting to exchange contracts on my house which will clear my debts only 40 days to go!!!!

livinginhope

The biggest financial mistake we have made was to skimp on home insurance :mad: I will never again believe an insurance company that tells me 'that will be ample imsurance madam' I will use MY judgement,no one elses

memorygirl

Buying property with a guy I loved - but who didn't love me!!!

Refurbed the property and then had to sell it - he got his half back and spent the lot on plastic surgery (Now lives as woman:eek: ) Be better if he had thought to pay back his half of the debt too:mad:

(sneaks off to pour a large vodka and calm palpitations down)

Memorygirl

Still you gotta laugh:D

medman

I think, in addition to ALL the above the most important lesson I have leaned along the way is not to return to your old ways once you're out of debt.

The best way to stay debt free is to always be a DFW. Rather like alcoholism you know where one reckless spend will end up so keep the faith:

1. Don't let banks take your money off you!
2. Don't buy it now just because it's a bargain: it probably isn't!
3. 0% deals are not free, they just add the interest to the purchase price, save up in stead and haggle.
4. Watch the pennies and the pounds will look after themselves. I think our parents and grandparents knew this one.

MM

babes21

I will never:

* Apply for another card with Capital One, i have around £100 balance on my current card and once cleared won't spend anymore
* Waste my money on unnecessary buys and instead put more into savings each month
* Not budget, keeping a spending diary as made me that little more "careful" with my money

taxi73

What a great thread...
I think we've all learnt from these mistakes....I will never get anything else on credit ever..if I can't afford it I won't have it!!!
I will never consolidate again.I use one cashback CC which is paid off in full for business expenses...the others are 0% BT and luckily have learnt my lesson not to spend on these...
As soon as all my debt is paid I'm going to save a few months earnings for emergencies....then concentrate on clearing my mortgage within a few years to become totally debt free...
I'm going to live DFW style for the rest of my life!!!