What is the dumbest thing you've ever spent your money on and why? - Seedly
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Anonymous

Asked on 26 Nov 2019

What is the dumbest thing you've ever spent your money on and why?

What do you regret spending money on?

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19 answers

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Answers (19)

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Buying new gadgets when I clearly dont need to change my equipment at the moment.

0 comments

👍 3
Rais M
Rais M
Level 7. Grand Master
Answered on 25 Feb 2020

Believing in get rich scheme and lost everything.

1 comment

👍 1
Frankie Rappaport
Frankie Rappaport

25 Feb 2020

That happens, maybe a good teaching
SW
Shaun WQ Lim
Level 7. Grand Master
Answered on 09 Dec 2019

I was a DIY PC enthusiast in my younger days. Spending money on chasing the next new thing. After a while, the gratification drops off and I learnt to make do with good enough.

Money which could have been better put into investing. Opportunity costs.

1 comment

👍 1
Frankie Rappaport
Frankie Rappaport

25 Feb 2020

Absolutely, on material things gratification soon drops

A 101 plan, back when I didn't know any better :<

4 comments

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2 more comments

Ching Li Chew
Ching Li Chew

02 Dec 2019

May I know what is a 101 plan?
Elijah Lee
Elijah Lee

02 Dec 2019

Hi Li Chew, it's a pure investment policy from an insurance company.
Mark Chan
Mark Chan
Level 5. Genius
Answered on 26 Nov 2019

Crypto.

I burnt a fair share of my annual bonuses in something that I did not fully understand.

Lesson learnt. As Warren Buffett once said, "Never invest in a business you cannot understand."

It was an expensive lesson tho.

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👍 1
Alvin Tsang
Alvin Tsang
Level 2. Rookie
Answered on 26 Feb 2020

Original movie DVDs.

Besides the fact that they have almost zero value, nobody would want them even if they were up for grabs.

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👍 0

The dumbest thing I have ever spent on is $1000 on a property course to equip myself to be a property agent, thinking I could earn more money through selling property. But I did not become one because I was too lousy in sales.

0 comments

👍 0
Joe Lee
Joe Lee, Adventurer at Game of Life
Level 5. Genius
Answered on 26 Feb 2020

Putting more money into a failing business thinking you can turn it around

0 comments

👍 0
Geraldo L.
Geraldo L.
Level 7. Grand Master
Answered on 26 Feb 2020

Not really dumbest but when I see my whole stack of magic cards I can see the amount of money piled up there.

0 comments

👍 0
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered on 25 Feb 2020

My 2 sports cars, that I still have. I don't regret, but it makes no sense, I can tell.

0 comments

👍 0
Andy Sim
Andy Sim
Level 7. Grand Master
Answered on 25 Feb 2020

Gym membership with California Fitness... used it for only a few months then it closed down... zzz can't get back membership+trainer fees somemore

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Cheap knockoff wireless earbuds like the airpods. The battery life of these can barely last an hour, compared to hours of battery life per charge on the legitimate brand. You get what you pay for.

0 comments

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Ernest Yeam Wee Leong
Ernest Yeam Wee Leong
Level 7. Grand Master
Answered on 28 Nov 2019

I bought pru flexi cash during uni

Now considering if can sell it to those companies that buy insurance plans.

I write cool stuff about personal finance and money-saving hacks here.

0 comments

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LH
L H
Level 3. Wonderkid
Answered on 27 Nov 2019

I bought many archie comic books 3 for $10 and it accumulatesd until I had over a hundred comics (was pretty proud of it back then) but now its just a waste of money

0 comments

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Felicia Toh
Felicia Toh
Level 3. Wonderkid
Answered on 27 Nov 2019

Sonos Play 3 whereby when I change my router, the speaker can't seem to connect to the new wifi. Can someone tell me why did a tech idiot like me purchase a speaker that thrives on wifi LOL.

0 comments

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Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 26 Nov 2019

Buying tamiya racetracks when i was a teenager

0 comments

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Changing car. I only lose more money each time!

0 comments

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FIFA 20. :(

5 comments

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3 more comments

Pang Zhe Liang
Pang Zhe Liang

26 Nov 2019

Why? I used to buy brand new. Now that I play it rarely, I buy secondhand as collectable (have the whole series since 2000)
Elijah Lee
Elijah Lee

27 Nov 2019

I'm pretty certain I have FIFA 97 somewhere

Not finance related but when Japanese technology was cool, I bought a minidisc player.

Turned out to be very tempermental technology and MP3 came a few years later and totally killed the format...

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