Tips for Failure - Or - How to Guarantee a Life Of Being Broke

**Gardengal18** · 01-03-2010, 05:36 PM

I believe the best tip of all is "Stop spending money that you don't have, on stuff that you don't need, only to impress people that you don't like anyway"

Now just do the complete opposite of that and your guaranteed failure and a lifetime of constantly being broke.

**frugalgram** · 01-07-2010, 12:44 PM

Always buy a new car with a loan (or lease) so you never have to pay for car repairs. It's easier to have a car loan of $300 (or more) a month than to have a car that's paid for but needs occasional repairs done.
We've been told we're crazy for putting money into repairs for a car that's older but paid for even though we spend much less on it than our friends with the constant new cars.

**Bobby Rodgers** · 07-08-2010, 02:46 PM

Thanks for the tips

**Keildra** · 08-31-2010, 01:53 PM

Originally Posted by ladykemma2

Get a useless degree - how many art majors are waiting on tables? better yet, from a private university, with loans.

Get a poor paying degree - any library majors anyone? Don't people research 'earning potential" before deciding careers?

Most art majors that do wait tables wind up having to because they didn't think it was important enough to work and build a proper portfolio which could make all the difference.

and that brings me to two of my points
Not using your college time wisely-You spent all four years at a frat parties maintaining 3.0 GPA and wonder why you're not getting job offers.

Expecting to be top dog right after graduation-it doesn't matter, go ahead and get that credit card freshman year and go wild, you'll be getting job and paycheck you wanted in time to pay for it. (it doesn't matter what you major in or what your GPA was everyone has to serve their time on the bottom.)

Refuseing to learn important life lessons-you don't need to know how to put together a resume, how to present yourself at an interview, or how to talk to the boss. You just need to show up in sweat pants and a shirt with a lewd comment on it, swearing up a storm, say you want a job without showing any credentials and they'll hire you I just know it. (I get onto my niece about this all the time.)

Refuseing to learn any people skills-be a jerk to everyone that's how you get by in life.

**jettylady** · 12-31-2010, 06:16 PM

This thread is awesome..Boy do I recognize myself in some of these, hence my current crappy situation..Time to get real, my life is no one else's responsibilty. Thanks for the reality check.
jettylady

**mzpepper** · 12-31-2010, 07:32 PM

So glad this thread got bumped up on New Year's Eve. Great reading for contemplation. I just read from the very first to the last post and got SO very much from it. Thanks for all the great tips of what NOT to do!

**lyra** · 01-21-2011, 01:12 PM

Go shopping without a list & without a PLAN!
Just stroll and aim mindlessly through the isles and pick anything that looks good. When wardrobe shopping, not having a plan makes you end up buying that "edgy" looking wild print blouse/dress you probably only going to wear once or twice because nothing in your closet matches that outfit. Is it on discount? Buy some more wacky "edgy" stuff. And everyday when you open the closet to find something representative to wear, nothing is decent and the new outfits can't be matched with your other items.

(This was me in the past..before I learned about "basic style essentials & mix-matching clothes")

Nowadays, when entering department stores/malls & looking at "sale" signs, I don't go crazy anymore grabbing anything "fancy/cute", because I make an inventory of the clothes I need, and write a list before I shop. Everything I buy has to match the stuff I already own, so I can create a few looks out of one outfit.
I also tend to buy outfits in solid colors, avoiding patterns and invest in accessories key pieces & scarfs.

**Frugal Sooner** · 07-13-2011, 01:05 PM

Don't pay off your mortgage early, because then you'd lose that great interest tax deduction!

By all means, keep paying interest so you can get that deduction. So if you're in the 25% tax bracket, you'll get a refund of .25 cents for each $1 dollar you paid in interest.
So your net loss is only .75 cents on every $1 spent.
What a great deal that is!

**gottadance** · 07-14-2011, 05:04 PM

Originally Posted by GFNancy

I want it means I need it - Live your life by this rule and you're destined for failure in all areas of your life. I want to buy that new shiny gadget. I want to take a vacation so it's okay that I don't pay my bills this month. I want to cheat on my spouse. I want to buy a bigger house. I want to blow off work to play video games. Yep. Just keep going down that path and you'll be a lonely and miserable failure before you turn 40. I guarantee it.

O boy - me and the bf (who are talking marriage) have started having money discussions and this has been a big one- he uses the word need a lot, when really it's want. UGH. When I point it out to him, he gets angry. We are going to discuss some more.

**gottadance** · 07-14-2011, 05:15 PM

Never track your interest rates on your credit cards and loans - who cares how much your paying; less painful to not be aware

Say yes to family members wanting to borrow $ - even though they have a history of not paying you back and you have credit card debt yourself

Pay for your children's college tuition - even though you don't have enough in retirement, a car loan and credit card debt

When your ex wants to pay for something of the kids that you don't agree with, let them pressure you into paying half- even thought you can't afford it

Unfortunately - these are all from my bf. Sigh...we have some work to do.

**lottaLove** · 07-14-2011, 07:14 PM

Assume nothing will ever go wrong Don't worry about health/life/disability insurance, after all, you're healthy as a horse! Don't worry about having spent your entire paycheck, having nothing in savings, and relying on getting that income tax refund by the end of the month to make your mortgage payment. After all, the mail never comes late, does it?

Never shop around for anything. Your insurance broker is your neighbour's sister. They wouldn't get you anything but the best rates on your car insurance, so you don't have to call around and ask for prices, after all, it's always done for you! And your sister's boyfriend's brother works at the used car lot down the road, so no need to shop around anywhere but his place, he MUST have the best deals in town, that's what your sister told you!

Give up. You planned your budget, you didn't eat out, you only bought one shirt for 25 cents from goodwill, you did everything you could that was right, but Murphy still came after you. If you do everything you can and still end up taking a step back sometimes, why bother even try. It's much easier to just give up and save your time.

Don't ever bother reading your bills. The gas/phone/credit card company is never wrong. If they are charging you for something, it's because you deserve to be charged for that. It's virtually impossible for them to ever make a mistake on anything, so there's no need to read your bills. Save yourself some time and don't even bother opening them. Just toss 'em. Oh and if you don't get a bill for that month? It must be because you don't owe them money. So don't bother to call the company and ask what your balance is for that month, it's obviously 0.

**mndtrp** · 07-14-2011, 08:22 PM

Originally Posted by lottaLove

Don't ever bother reading your bills. The gas/phone/credit card company is never wrong. If they are charging you for something, it's because you deserve to be charged for that. It's virtually impossible for them to ever make a mistake on anything, so there's no need to read your bills. Save yourself some time and don't even bother opening them. Just toss 'em. Oh and if you don't get a bill for that month? It must be because you don't owe them money. So don't bother to call the company and ask what your balance is for that month, it's obviously 0.

Exactly what I was going to say. My wife was terrible about this, in all aspects of your post.

It may have been said already, but:
Don't learn anything new. You certainly won't be able to accomplish something outside of your current knowledge. Car flaking out, but never been under the hood? You can't learn how to diagnose and repair the problem. Mechanics are bred in a special underground bunker, sorry. Landscaping your back yard, but never picked up a shovel? Too bad, professional contractors are the only ones capable of doing the job.

**peanut** · 07-15-2011, 10:52 PM

Originally Posted by ladykemma2

Get a poor paying degree - any library majors anyone? Don't people research 'earning potential" before deciding careers?

Actually, yes. We are a one income family on a librarian's salary and doing quite fine thank-you! (What can I say? We just came back from a 3 week vacation we are basically paying cash for!). Course, frugality makes that all possible. My degree was in arts, and I master at finding frugal ways to raise our standard of living now.

But then, Canada is the land of free health care... So that is one big worry we don't have.

There's more reasons to choose a career than 'earning potential'. DH and I knew it was going to be rough. We just lived within our means our whole life, no matter how weird that made us look to our neighbours. We're still looking at ways to adjust our lifestyle to live 'comfortably' in retirement. I am so looking forward to the new challenge!

Which brings me to...

Don't have any goals - just coast through life. React, instead of being proactive. Nothing will improve if a person just coasts. The first step is to "be the change you want to see" (Gandhi).

**Russ** · 10-20-2011, 02:17 PM

to the top!

**peanut** · 10-20-2011, 02:54 PM

Russ, thanks for bumping this. I see I was much more optimistic in my last post than warranted now-a-days! Since then we found out DH's work pension is in trouble. Plus he's been without a contract for 21 months now. No pay raises hits hard when everything else is going sky high! So...along with "Don't have any Goals", I'd have to add "Assume that life will always be rosy because you have a government job".