Over the past few months, I have found myself thinking back to all the mistakes I made that have to lead me to this point, aka, major pity partying. This in turn led to me doing loads of research, listening to multiple podcasts and gorging on YouTube and blog posts hoping to find others who made the same or similar mistakes and possibly learn ways to get past this point.
It is this endless journey down the rabbit hole, that has inspired me to share what have been some of my biggest financial mistakes. After all the first step is admitting I have a problem.
Joining an MLM and getting a credit card without fully understanding how it works. Big, big mistake. Huge!
So at the encouragement of a few co-workers, I attended a Multilevel Marketing meeting, and the picture they painted me was beautiful. The products were expensive. No credit card, no problem. A member worked for a bank and would gladly set us up with a card. My naive self fell for it all, hook, line and sinker. In no time I was maxed out, making no sales and depressed. Luckily my credit union helped, by paying off the card and I made lower interest payments to them. This, unfortunately, led to my next mistake.
Paying off the card then racking back up the card debt trying to keep and maintain my former relationship. Again I was young, dumb and in love. I would rather not relive this mistake, but I will say it has made me more money-conscious in my relationships.
Stopped budgeting and saving.
This happened right around when my battles with depression started to get worse. I no longer cared, and life was just existing not living. As far as I was concerned, I wasn’t going to be alive much longer, so why worry about it? A major downside of this now, is that my memory has been so repressed and filled with so many foggy and blank spaces, I forgot how to do these basic functions, and so I am now relearning everything from scratch.
Helping others out financially instead of being selfish and helping myself first.
This one was brought to my attention by my therapist. Aside from that disastrous relationship, I tended to make myself financially available to others, especially friends and family, who are rarely, if ever willing to do the same. Not having boundaries has made me a patsy and learning to say no is still a struggle, but with time and practice, I will get there.
It’s no secret. Bad day, buy snacks. Feeling frumpy, buy a new lipstick. Cute pens and notebooks, buy them and ignore them. Countless novels, a necessity. If I felt awful, happy, or angry, I needed to buy something. And now two years later I am still decluttering my room, bit by bit. Always in shock and awe of how much money I have wasted. Thankfully my self-control is slowly improving, and my accountability partner helps to talk me off the ledge.
All in all, I have made some boo-boos. However I am working every day towards improving myself, my habits, and with time and patience and consistency, I will one day be able to say I am debt-free and in control financially.