The Financial Mistakes We All Make And What To Do

Over the course of our lives we will all make some kind of financial mistake. Some will be bigger than others, but rest assured it will happen. The question will always be, “What next?” Making a financial mistake is not the end all be all of your financial condition. Let’s take a look at some of the things Jordan and I have done and see how you relate?

1) Signed A Lease

Yes, for as much as we talk about being able to afford cars or having a plan to pay for them BEFORE you sign a loan, there was an instance of us not following this. Early on in our financial journey, Jordan needed a car because she was literally driving a clunker. We checked out Honda, and they were happy to “sweet talk” their managers to providing a lease for a brand new car (how nice of them…). The monthly lease payment was fair and definitely affordable. It seemed like a great deal! However, three days after signing they asked Jordan to come back in stating there was some issues with the documents and needed her to resign the new ones. However, they had also increased the payment nearly $100 more a month! Being as she needed a car, she signed (Yes, we should have walked away).

2)  Putting  Stuff On The Credit Card For Later

We harp on the idea of not paying anything with a credit card unless you have the cash to pay it right off. However, once again this was something we have not always been as structured on. There was a time early on where we had to make the tough call to put a lot of things on the credit card knowing full well we didn’t have the cash for it. We had just bought a house, and we were paying for our own wedding! In our defense we knew what we were doing was wrong, and it make it that much harder to do it.

These are just two of the items we have dealt with in our financial journey which has had a huge impact on us. It has helped us learn as well as help us teach others. They are definitely things we do not wish to repeat. I am sure you all will face many similar items as well. Just remember, you CAN overcome it!