What Was a Giant Waste of Money That You Could Have Prevented

k-rokfm on 14/09/2018 - 13:33

Hey all,

Just a quick one which I think could be interesting and very UnOzBargain. What have you (or someone you know) done that was a giant waste of money that you could have easily prevented if you had done a little more work/planning. I'm not talking about buying something that's then broken or not calling up disconnections to get a better deal on your foxtel, but something that you have done haphazardly, thinking it would work out but then it has cost you significantly more in the long run.

Heres one someone I know has done recently. They were in the market for a brand new car, looking to upgrade from their old mazda 3 to something that was a little more comfortable for them to drive around in considering they are getting a bit older. They had driven their friends CX-5 around quite a lot and liked the extra height for getting in and out of the car. Without testing many other cars or really looking around, they quickly went and bought a CX-3 cause they like the brand and it was what they were after.

After a while they sold the car cause it wasnt big or high enough off the ground, and bought another car which served their purpose better. End result: Essentially loss of 5-8k for what could have easily been solved by test driving a few other cars

General Discussion

Comments

  • dcep on 14/09/2018 - 13:37
    +27

    "thinking it would work out but then it has cost you significantly more in the long run."

    Joining Ozb with the aim to save money.

  • yoonibear on 14/09/2018 - 14:17
    +2

    If dad had waited until the weekend so that we can go together to get him a TV - instead he went mid week and got sold those Monster HDMI cables along with a more expensive TV .. couldn't even return the damn things as he opened up and had everything set up already..

    • Zedsdeadbabyzedsdead on 14/09/2018 - 16:08
      +2

      "What Was a Giant Waste of Money That You Could Have Prevented"

      Ex wife.

    • yoonibear on 14/09/2018 - 17:25

      Argh - should've read what the title was.
      Automotive wise - my partner was sold on the paint protection. Although, a long time friend of mine ended up getting an WRX STI barely drove it (5,000km over 3 years) and traded the car in for a Forester - don't know how much he lost, but he said he definitely lost money on it.

  • GG57 on 14/09/2018 - 14:32
    +5

    I know two people, both friends of mine, that at different times decided to buy caravans.
    Each of them, in slightly different circumstances, went to take delivery of their caravans in their new vehicles, which had been specifically purchased to tow their new home-away-from-home.
    Both of them were informed that their new vehicle was not suitable for the weight of said caravan.
    Both of them took a financial hit as they sold their weeks-old vehicles for larger models.

    • kingmw on 14/09/2018 - 14:51
      +1

      OMG! People need to do their research properly beforehand.

    • TheBilly on 14/09/2018 - 16:09
      +1

      Wow … you would expect people smart enough to earn the money to have these things would be smart enough to figure this out.

  • Euphemistic on 14/09/2018 - 14:38

    Cars, that double as toys. If I’d purchased basic, boring cars as transport instead of spending big modifying etc…

  • poboy on 14/09/2018 - 15:48

    Completing the probate process (executing a will) is not difficult for a straight forward estate. There are online kits that cost $99. A lawyer will charge >$1,000 and scare you about how complicated it is. Yes there are hoops to jump through - but it's kind of like paint by numbers.

  • chumlee on 14/09/2018 - 16:16

    Paying for lap dances when I was younger. Stick mag would have beeen cheaper

  • Ugly on 14/09/2018 - 16:22
    +2

    Slightly embarrassed to admit that I got suckered into buying an "investment" property on the Gold Coast.

    The while thing was done "off-the-plan" at one of those investment seminars that was held in Sydney, but I fell into the trap of comparing to Sydney prices. If I had done any research into local prices I would have quickly found out that it was overpriced and not in a great area. Held it for 10 years then ended up selling it for less that I paid for it.

    If I had put my money into a Sydney property instead, I would have more than doubled my money. All up I reckon it cost me over $300,000

    • Zedsdeadbabyzedsdead on 14/09/2018 - 16:29
      -2

      username checks out.

    • GG57 on 14/09/2018 - 16:36

      Is the $300k the diff between the buy and sell price, or the profit that you could have potentially made if purchased in Sydney?

      Either way, I feel for you.

      • Ugly on 14/09/2018 - 16:52

        A bit of both, but probably more in the lost opportunity in missing some of the best years of the Sydney boom.

  • rompastompa on 14/09/2018 - 16:37

    Kids.

    Na, just kiddin'.. they're worth it..

  • MathNerd on 14/09/2018 - 16:53

    I bought stuff…. Before doing the maths.

    Cue "Username doesn't check out" comments.

  • Noragrets on 25/09/2018 - 00:16

    I purchased 4 bitcoins when they were around $20 each and used them. If I still had them I could have put a deposit on a house by now. I didnt really lose money but knowing what I could have had breaks my heart every day.

    • Xiaomi on 25/09/2018 - 00:56

      There are people who had hundreds of them, and discarded of their old computers holding them in the wallet. There are also those who purchased them when they were at their peak, and have lost a fair amount.

      I am not saying your loss, or their lack of is OK. I am just saying don't let regret ruin future opportunities and darken your day. You can't lose what you didn't have, you used them at the time. Accept it, otherwise it'll always cast a deep dark shadow over your thoughts.

      • Noragrets on 25/09/2018 - 19:53

        This is very true. It does bug me but I cant do anything about it now! This was in 2013 and bitcoin was unheard of at the time so I had no idea they would go up so much in price. I do feel for those who bought them at their peak. I didnt technically lose anything where as they did.

  • hal9000 on 30/09/2018 - 12:21

    studying in oz as international student lol

  • AlienC on 06/10/2018 - 20:30

    For me it would have to be food and pc parts buying.. oh wait prevented.. um getting into pc gaming? I should have stayed with just watching tv but i have a feeling i would have just spent that money elsewhere

Login or Join to leave a comment
Login Join