List Your YM Sins

[quotequeen]

A fun thread to ring in the new year on the new board. List the things you have done/are doing of which YM would NOT approve!

I....

• Attended a private college and private grad school
  
• Got a philosophy degree
  
• Lent money to two different boyfriends
  
• Got a 15 year mortgage despite historically low interest rates
  
• Had an expensive wedding and expensive honeymoon (and also have an expensive engagement ring)
  
• Got married without a credit check or a prenup
  
• Purchased a brand new $45k car
  
• Have kept six figures sitting in cash for two years
  
• Have no interest in owning rental property or starting a business
  

[thyme4change]

Forgive me YM for I have sinned:

• I "loaned" a boyfriend money, from my credit card
  
• I ran credit card balances for ridiculous stuff for many years, at high interest rates
  
• I bought a car that I couldn't afford
  
• A few years later I bought another car I couldn't afford.
  
• I bought a house with no money down and no emergency fund
  
• I refinanced the house and rolled the credit card debt into that house
  
• I started my 401k way, way, way too late
  
• I married a guy with tons of debt (and a car he couldn't afford)
  
• I updated and upgraded my house with funds from a HELOC
  
• I buy new furniture
  
• I leased a car
  
• I am neither working towards an early payoff of my mortgage, nor have taken out the full available amount and invested it.
  

[Deleted]

I have no life Insurance. nooooooooooooo

[whoisjohngalt]

Ooohhh how fun!!

I don't know how to make bullet points, sorry . In no particular order:

1. "Loaned" money to a BF
2. Bought a brand new car in 2008, only to exchange it for another brand new car in 2010
3. Don't buy anything used for my kids
4. My strollers and crib cost more than some people's mortgage payment
5. Just bought a house that has enough sq footage to have a small army live there
6. Got married to a guy who had a six figures debt
7 I don't know the meaning of the word "coupon" except for the one my DH gives me for my B-day. (Haven't saved any money on those coupons yet)

And our monthly grocery budget is more than some people's mortgage payments as well!!

I am sure there are more, but can't think of it right now

Lena

[telephus44]

I have:

*Went to a 4 year expensive private school for undergrad - and my degrees are Latin and Ancient Greek. I could have graduated 1 semester early, but chose not to because I was enjoying my college years.
*I took out a 401K loan and took money from my ROTH to put a down payment down on my house. I only put 10% down on my house.
*I signed the paperwork when my MIL bought us a time share for Christmas one year.
*We don't live off of just DH's salary and bank mine

[Nazgul Girl]

Forgive me, YM, for I also have sinned:

Bought too much good jewelry many years ago and don't wear it.

Didn't fight DB ( now DH ) when he bought his 2nd house, and now we have the mortgage.

Didn't get a good major in college.

Bought bad veterinary clinic with first husband ( financial disaster, years of paying off debt ).

Encouraged DH (2nd ) to go to pharmacy school when he was too old, underestimating the difficulty of the program vs. his age/disease state ), resulting in many years of student loans to repay. We did get them consolidated at 3.something percent, but still.

Staying with first husband after he forged my name to a large business loan.

Not being frugal ALL of the time. ;D

[Deleted]

Got a double major in Fr Lit/Poli Sci
Married a dead beat for six months
Ran up debt on a cc and had to cut up the cards
Failed to file and pay taxes on time so got an IRS Lien!
With new husband bought a fixer house on 50% of his income and I had no job
Bought new cars for cash
Bought negative cash flowing property
$600k cash in very low interest accounts
Seriously considering paying off a low interest rate mortgage when we retire
And drum roll...rarely update my profile at Net Worth IQ!!!

[marvholly]

Bought a new new car when mine died 3 years after DH had passed away. Just did not have a mechanic I trusted at that time (ours retired out of state at the same time DH passed away).

Did pay cash though so no interest.

[Deleted]

Forgive me YM, for I have also sinned.
* I don't make out my retirement accounts.
*I have an ass load of debt
*I went to a private college for a degree in education.
*I bought my 16 year old a car (paid cash)
*pay the insurance for my 16 year old
*never clip coupons
*I don't have a food budget. I buy what I like and don't care about how much it costs.
*I don't track how much I spend.
*I have a gym membership but I rarely go.
*I pay my kids to get good grades.
*I get money back at tax time because I can never get my exemptions right.

Uhm...how much time and space do I have?

[swamp]

I went to private college and law school.
My undergraduate degree is French and Canadian studies.
Paid off low interest student loans early, while I was living with my parents.
Bought 2 new vehicles in 2009 and have payments on both. One vehicle was 40k and the other was 33k.
My van has leather heated seats and a DVD player.
DH drives a full size pick up.
Rarely use coupons. I would if I remembered to, though
Have a 15 year mort and will use HELOC to help kids pay for school when mort paid in full
I have slept with, um, several guys with having run a credit check on them first.
I enroll my kids in dance and hockey, 2 expensive activities.
I don't have a budget on a spreadsheet.
I have no interest in buying rental property.
I tip well.
I have a boat and a jetski.
Should I continue? ;P

[stillontheroad]

Oh boy...I don't know where to start.

Past sins (both mine and my wife's):

• I went to a private liberal arts school and majored in English. Actually, as it turned out, that wasn't such a bad decision...I borrowed $29k in student loans, mostly fixed-rate federal loans, and got a job starting at $38k + good benefits. The dumbest part about my college decision was that I didn't plan ahead: I easily would have borrowed twice as much without thinking about it if I hadn't gotten such good financial aid, and I chose my major with little to no regard for career options. I was lucky to find a good job that didn't have much to do with my field of study.
  
  
• I didn't work much in college. I did work two jobs in the summer and earned a decent amount of money doing that, but during the school year I didn't work at all my first year and a half and after that maybe 6-10 hours a week. I could have worked more and graduated with less debt.
  
  
• My wife went to a private college and took out about $75k in student loans for an English degree. She's currently earning about $34k a year. (I blame myself as much as her, since I probably would've done the same thing back then and it's lucky I didn't).
  
  The most deflating part about this is that a few months ago, her sister moved up to our area and got a job where my wife works, at the same salary my wife started at. My SIL has an associate's degree from the local community college that couldn't have cost her more than $15k at the absolute most. I try not to dwell on that too much.
  
  
• Right out of college, my wife bought a brand-new Toyota Yaris with a 6-year loan. Looking back, she had no business buying a new car at that time (though again, I share the blame because I was part of the decision process even though we weren't engaged yet), and taking a 6-year loan was an even worse idea. The bright spot is that at least she picked a sensible, reliable car; we expect to keep it at least another 8-10 years and it'll finally be paid off next year.
  

Current sins:

• We don't save enough for retirement. Counting only our contributions, we're saving 7% of our gross income; adding in employer matches brings us to 10%. We should be saving at least 15%, I'd say.
  
  
• We don't have much of an emergency fund. This is probably our second-biggest sin. Both of our jobs are pretty secure, but frankly I don't know what we'd do in the event of an extended job loss.
  
  
• Our biggest sin: credit card debt as a result of overspending. Almost all of it is at 0%-1.99% promo offers, but instead of reducing it we've actually added to it over the past year. No "good" excuse for it either like a major emergency...we just simply haven't been disciplined about our spending. That's priority #1 for 2011.
  

[SVT]

The only thing I can really think of at this point is that I went to a private college. In my defense, that was before I discovered this board.

I guess I'm a goody goody LOL

[phil5185]

Purchased a brand new $45k car

Graduated from college in 1963.

Less than a year later I traded my ancient VW Bug for a brand new 1964 GTO Convertible with a 4-speed and 3 2-barrel carburetors. When you pushed the accelerator to the floor it was similar to flushing a toilet - the speedo needle rushed to the right and the gas needle rushed to the left - kind of an 'internal' race? Probably the equivalent of a $40k car today.

[Deleted]

My YM sins:

1. Got pregnant at 19 with no real job and no plan

2. Didn't finish college

3. Left ex husband with a 1yo and 3 yo and no job

4. Got a job, then after a year or so, wanted to quit and go back to school, even if I had to go on welfare. I was tired of the low pay, and broken hearted because due to my work schedule, my kids were confused about where they lived and were calling my Grandmother "Momma".

5. Instead, I transferred to another department, then a couple years later I got a *good gubmint job* and I'm....... *gasp*......... UNION

6. Bought a car that was worth more than the house I was living in at the time

7. Ran up significant credit card debt

8. Significant medical debt added to cc debt and I borrowed from my retirement money to pay some of the bills

YMers probably would've thought I was a troll if I'd posted during any of those years and told the whole story.

[Deleted]

Oh yeah, I only put down 3% when I bought my house and only had about $3k left in the bank after I closed.

[Deleted]

Forgive me, YM, for I, too, have sinned . . .

• No will.
  
• Didn't start saving for my retirement until the divorce.
  
• Let other people manage my small settlement from the divorce.
• No pre-nup for second marriage. (That's fine; we both said what is ours is ours, and we meant it.)
  
• Less than 20% down on the house.
  
• Loaned money to my ex bf.
  
• Small emergency fund because a 1980s house seems to always have something to "fix."
  

This doesn't even encompass the financial sins of my youth.

[The J]

• Went to a private undergrad and an out-of-state law school
  
• In undergrad, started as a computer science major and changed to psychology
  
• Used student loans to pay for an apartment by myself and cable
  
• Got engaged to a woman with a sub-600 credit score
  
• Planned on getting married without a prenup
  
• Bought a condo (in my name only at least) based on what my fiancee and I could afford
  
• Bought a condo where the PITI and common charges are 50% of my net
  
• Helped my financee pay off her credit card debt
  
• Only put 5% down on my condo
  
• Bought the condo without a fully funded EF
  
• Rent out a room to a close friend and don't have a written lease
  
• Order UFC and some boxing PPVs regularly
  

If I think of more, I'll add them......

[Deleted]

We don't save enough for retirement.
Our children are on subsidized state health insurance.
Did not have a pre-nup.
I'm sure there is more...

[whoisjohngalt]

Oped, you are a SAHM AND!! homeschool. Need we say more???

Lena

[Deleted]

lol... duh... how could i miss those?
I'm also seriously considering building a too big house as well ...

(I'm not loving the new emoticon selection...)

[The J]

When you click on reply, to the side of the message box is a link "view all smiles". There are more there.

[SVT]

Bought my house still being in college.

I have a few thousand dollars in CC debt now.

[justwhoever]

I would be banned for life if I listed my sins. Let's just say most here would hate me but in my defense I need to be here to learn the proper ways.

[cytoglycerine]

This is fun!! ;D

• I co-mingled assets and bought a condo and a car with hubby before we were married - ETA - and the condo was 100% financed, and the car was brand new off the lot and was LEASED *GASP*
  
• We spent a lot of money on our wedding/honeymoon
  
• I carry credit card debt...and not all of it is at 0%
  
• I am generally the type of person to quit a job without having another one lined up - even in *this* economy
  
• I am currently unemployed and am sponging off my hard-working husband
  

[Deleted]

Bought my house with no down and no emergency fund.

Trusted family members -- ( Lesson learned: If someone says "trust me I would never cheat you" rest assured you have already been screwed royally and are just too dumb to know it).

Didn't save for college for the two kids.

Co-signed college loans for both kids.

Others too numerous to mention.

[Knee Deep in Water Chloe]

This a safe place, right? No judgements

I think I'll stick to the money ones and not include some of the lifestyle ones.
My confessions:

• First house purchase 85/5/5
  
• Purchased Second house on 80/20 without selling first house, subsequently the housing market crashed and I lost all equity in the first house.
  
• Am now stuck with the second house because I owe more on it than it's worth and don't have ANY money to bring to a closing table.
  
• Have been on WIC and one child was on State health insurance
  
• During my divorce, I took out a $15,000 cash advance on a credit card at 4.9% for life to pay bills for a year. (That would be about how much xh was bringing home )
  
• I have a government pension, but I don't put anything else into retirement
  
• I transferred $8,000 of my then-fiance's mortgage onto my 4.9% credit card (which was actually lower than his interest rate) in order to refinance his house into just his name (taking off his xw's) We are married now
  
• I do have life insurance, but no will.
  
• I don't have the state garnish my xh's wages for child support and he hasn't paid me anything in six months.
  
• I'm sure there's much, much, much more, but now I'm pretty depressed.
  

[cronewitch]

I went to a private college
Never used my degree
Under achiever in career
Used houses as ATMs
ARM mortgage not paying early
Borrowed on an old house to get this house
Had 3 mortgages at the same time taking nearly all my income
Have roommate/boyfriend without an agreement in writing
Didn't start to save until after divorce at 35
Did cash out refi to invest in stock market

I am old so can't remember all I did wrong....

[swamp]

I also had a big fancy wedding and an expensive honeymoon.
DH and I bought the house together before we got married

[Deleted]

I only put 3% down on my house, had more but was talked into it by the lender
I cashed out a small 401k from my first job
I probably don't have enough life insurance

[phil5185]

Used houses as ATMs
Borrowed on an old house to get this house
Had 3 mortgages at the same time taking nearly all my income
Did cash out refi to invest in stock market

crone - LOL, those were YM sins? I did all of those (except that I has 6 mortgages on 4 houses at the same time) - and all the time I thought that I was making lots of money?