What's been your most expensive mistake?

Savvy_Sue

Spendless said:

Savvy_Sue said:

Booking a holiday flight in Feb, and accidentally booking the return 5 weeks later rather than 1 week later ...

And more recently, packing car for return to the airport, put the key on the passenger seat with a bag, closed the door, and heard it lock: a 'feature' in that make, apparently.

My Niece did similar. It's because unless it's a leap year the days of the week and the dates are exactly the same in February and March up until March 28th.. Niece booked  a week in March instead of the February half term she'd meant to and she couldn't take March off instead  because she's a teacher -  a maths one! 

Yes, that's exactly what happened. It was really just luck that I noticed ... If I hadn't, I guess it would have been even more expensive!

[Deleted User]

Going to uni for 2 years to do a useless degree.... 18k in debt

Didn't learn my lesson so after maternity leave, I went back again and didn't complete my exams so I left with nothing... Another 9k in debt. I know student loans are different but goddamn it, why couldn't I just gave myself more time to think and study a vocational qualification instead or something more meaningful. I just wish I didn't jump into going uni just to prove to everyone that I am capable of it. Utterly ridiculous and immature on my part! Was nearly 10 years ago now.

pollypenny

Not selling our Halifax shares in 2007 when they were £11 each. 

gawa75

Buying a house in joint names with an ex girlfriend. We split up 18 months later. Cost me 11k to get her shifted out of the house. 🤬

Primrose

Buying a new a Hillman Imp in the days of my ignorant youth and clearing out my entire cash savings for this new concept rear engined car.  The damned thing broke down more often than I had hot dinners. Lesson learned:  Don,t buy new technology until other idiots have test marketed it first at their expense!  

Oh, and buying technology funds for my ISA which also lost me a lot of money.  Another lesson learned:  Don't run with the herd !  If everybody else is buying, you're too late!

DD265

I can't think of any one thing, more a series of not-great decisions that built up over time.

I guess I spent ~£1000 on a credit card on things for my horse (parents bought him for me at 16, I would be 27ish when I did this) when it became apparent that he would be rideable again. I think we got 3 months out of it? I sold it all off, but didn't get back close to what I'd paid. Having his expenses from the age of 16-29 held me back quite a lot. I don't regret it, as I loved him so much, but I'd be very hesitant to buy a horse for a child of my own.

JGB1955

As executor, selling my late fathers (paper) shares via the respective Registrars.  Should have transferred them to ii as nominee shares - would have saved my(our) selves £200 in share dealing costs ... still cross about it!  Luckily (?!) equiniti made a total b***s up of the whole process so it was mitigated by a £80 'go away' payment from them.

Ironically, my current  General Trading Account with ii shows FAR more loss than that...

Savvy_Sue

Primrose said:

Buying a new a Hillman Imp in the days of my ignorant youth and clearing out my entire cash savings for this new concept rear engined car.  The damned thing broke down more often than I had hot dinners. Lesson learned:  Don,t buy new technology until other idiots have test marketed it first at their expense!  

A sibling bought one second-hand. Disastrous car!

onylon

University! I did an arts degree and now work in IT. It was a total waste of time/money and I wasn't happy there but I felt that getting a degree was mandatory.

Sue_S

My biggest (HUGE) mistake was not buying shares in my company when offered.  I had £1000 put by which would have bought 20,000 shares however a friend was starting a double glazing business and offered us a really good deal so I spent my money on the windows.  A couple of years later the shares were 'revalued' and each share split into 12 meaning I would now have owned 240,000 shares.

Wait for it!

At the height of the tech boom each share was worth £10.  I would have made almost £2.5 million!!!!

C'est la vie...