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Every one carries debt to pay for their car
 

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How about this attitude " I am not going to worry about paying off my debt because it is so much and it will outlive me anyway. I will die owing look at all those people who buy and finance a car when they are in their seventies they have no intention of paying it off."

or

"I am keeping my student loans in forebearance forever after all it will out live me anyway so it does not really matter how much interest I am being charged." This person almost swallowed their tongue when I told them that Uncle Sam could take the student loan payments out of their social security checks.
 

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Be uneducated about credit and related matters. Assume the 'credit fairy' will pay the bills and your credit rating will still be stellar.

Borrow unreservedly from family, but don't pay it back.

Demand family (or mate's family) pay your bills because you're spending all YOUR money on 'things' - clothing, shoes, alcohol, drugs...
 

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I can't! It's too hard! I'd rather sit and whine about how much my life sucks than go out and do something to change it for the better. I don't want to have to rearrange or *gasp* give up my "free time" to work for a better life.

(I had a wise teacher one year in grade school, who told me, in no uncertain terms, that "can't" means "won't." Taking those words to heart was one of the smartest lessons I learned, while growing up. "I CAN'T" is one of the most destructive and self-defeating phrases to have in your vocabulary. )
 

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Don't bother teaching yourself basic skills like sewing, car repair, home maintenance, and food preservation. Those are skills that are for the unwashed you are waaaay above that!

Snicker behind the back of older Americans when they tell you stories of the Depression and the things they did to keep body and spirit together. Also ignore the lessons they learned that was way back then, this is now history never repeats itself.
 

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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.

:stupid:
 

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Neglect to read the fine print on mortgages, car leases/loans, credit cards and other big ticket loans that could end up in years of interest payments and fee's.
 

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Assume you will always be in your current financial situation - You make plenty of money! Why not treat yourself? Use every penny of your paychecks toward the things you want today. You don't have to worry about the future because your raises will keep up with your lifestyle.

Start being responsible next year - You've already got too many plans this year. You don't really need to start paying attention to your life right now. But next year you're going to buckle down. You're just going to wait until after you get that bonus or that raise. Wait until the kids are in school. Or out of school. Wait until you move or buy that new car. Wait until you redo the kitchen or put in the pool. It's not that you don't want to budget or don't know that you need to, you've just got too much going on right now. But next year. Definitely next year.
 

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* don't get a second job b.c. you will pay too much in taxes to Uncle Sam and your relationship will suffer b.c. you don't have time for your spouse

(if that is gonna destroy your relationship, then your relationship was messed up in the first place)

* financial goals are for nerds, who cares I'm gonna die anyway eventually

* why preplan my will and trust and burial arrangements, my insert (kids. spouse, partner) will take care of that when/if I die accidentally
 

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Awesome thread.
Make sure you have the latest leased or financed car every two years. No way can you drive a car older than 3 or 4 years. This will definitely keep you from building an EF, saving for retirement, your children's education or paying off the mortgage.

Take out an home equity loan to pay off all of your debt especially the credit cards that are maxed out only to start the vicious cycle all over again by charging on the very same credit cards again.
 
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Little things don't count.

Really, why bother about 50 ct here, or three bucks there?

"What will the neighbours say?" is always the most important question.

There will be rumors about how broke you are if you sell that car, get that job, or don't go to X for your vacation. You don't want any such rumors!

There aren't any jobs out there anyway.

Of course there aren't, so no sense in trying to find anything.

I don't have time for an extra job, doing this or that myself instead of hiring help, or to comparison shop.


Of course you do not. You HAVE to watch three hours of TV and go partying at least four times a week. That's your social responsibility. It just doesn't leave enough time for the other stuff.

I cannot walk there, go by bike, or take public transportation.

No need to actually try to find out whether the bus stops directly in front of my company, or whether cycling to work on a nice spring morning could actually be fun.

The only way to change your lifestyle is by spending a lot of money.

The only way to get exercise is by going to the best gym in town. You can only loose weight by buying expensive 'diet' food. If you want to be creative, there are certainly some artsy, though pricey, workshops out there.

I love my husband, daughter, brother, fiance, best friend, so I have to buy him/her expensive gifts.

Nothing tells as clearly of your affection as a large bouquet of flowers, a new flatscreen TV, an XBox, or a week at an expensive holiday resort.
 

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Don't keep records

Because if you did, you would know what you own, and then your heirs wouldn't be learning about a piece of property and bonds decades after you die. (Just found out my grandmother had a bond in her name ...probably from 1978 or earlier. My grandfather did many things right, but his records were horrible.)
 

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I'm not sure if this one has been mentioned but not doing research before you buy. Not haggling on the price. We tend to shell out more money than necessary just because we don't fight over the price of things. Friends and family are not the only people who take advantage of us.

Cat
 

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Wow what a great thread......... but I can't post here 'cos every time I think of some tip..... SOMEONE has posted it before me...give yourselves a pat on the back everyone you already know all the secrets to a rich life -and I'm not talking rich as in money
 

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Buy the skinny/vacation/someday clothes -- who cares if you haven't seen your feet in 6 years, your last vacation was in 7th grade, you'll wear them eventually... I hear out-of-style clothes are now called retro anyways.

Avoid sales and clearance racks -- you don't want Mrs. Jones walking by as you are looking them over.

Always have the attendant pump your gas -- it just looks cooler when you hand your credit card out the window and having him take your credit card inside.



 
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