What's a lesson you learn the hard way in regards to money and finances

[Cupcakeicecream]

What's a lesson you learn the hard way in regards to money and finances.

@Nobodyyou yep. But a lot of my peers who were also born into money have not made the best of it. They whinge that they can't afford x or y or live the lives they were brought up to. They also spent a lot they hadn't earnt, didn't much care for work. When I was working my backside off at 24 and paying a mortgage, they were poo pooing it and going back packing to Bali on mum and dad instead.

And this. 😩

Don't get a credit card if you can't afford to pay it off every single month.
If you can overpay on your mortgage do it.
Don't date a gambler. If you find out your partner is a gambler, break up before your finances get enmeshed.
The last one is the most important.

Live within your means and don't get drawn into 'keeping up with the jones" using finance deals.

I sorted a aggressive payment schedule to repay 18k and although it was a bit crappy for a while I got through.
We now save up for everything only debt is the mortgage. It takes us a while to do things but we get there eventually!

Yep would have sufficed hellebores! God you don't half whittle on... 🙄
😂😘

So beautifully said!

Never lend money and expect it back.

Having kids and pets

Don’t make shopping a leisure activity.. go for a walk, sit in a cafe with a good book.

That a little treat on credit can cost you a lot

Best one, I can totally relate lol

If you don't know how to manage a budget - learn! and never get your finances entangled with a partner who is crap with money.

That renting means paying someone else's mortgage.

Yeah. I used to easy spend an afternoon in the supermarket. Silly really.

Not if they work for the DM.

Dental issues, if not dealt with promptly, can easily go from cheap to fix to ludicrously expensive.

Exactly what I was thinking!
I never understand why people reply in their droves to OPs who simply ask a question then disappear
Well if nothing else it's a convo starter and other people are interested in peoples responses.

There is such a thing as being too sensible, cautious & risk-averse with money. I am a saver. Always have been. I have always prioritised the financial security of knowing I have substantial savings. If, however, I had accepted a degree of risk & leverage and invested my savings in property instead of squirrelling them away in ISAs etc, I would now be independently wealthy & retired.

£2,000 wages not paid at Xmas one year when business went bust. After that never ever relied on one source of income ever again. Have several now. Much more secure.

Never, ever take out credit for someone. Not even your husband.

Absolutely this.

When I met my first boyfriend, I let him move into my newly acquired flat and let him convince me to take out things we needed, on credit, in my name.

That was the start of my credit rating being fucked up.

What difference does it make to you though (or the countless others moaning about it)? It’s still a useful thread with lots of good advice that might just have helped a few people out.

If you go part-time to raise kids your career suffers and so will your pension. Seen loads of women who opted out of pensions etc or weren't paying in all through the childhood years suddenly unable to retire because of divorce/partner's early death.
It doesn't seem huge when you are in your twenties/thirties. but these are the years you need to build up to benefit the most from compound interest.

No matter how much your parents and family are worth, you’ll see £0.00.

Family don’t give as they receive. Get thee to the benefits centre on your 18th birthday and find out how it works.

Chase decent interest levels they don’t chase you Don’t say you never have time to do it.

Not to buy things on credit. If I can't afford to buy it upfront I don't have it.

After years of struggling with debts I won't ever let myself get in that position again. I won't ever own a credit card again.