Oh boy. Husband's uncle came into a windfall of about $1.5 million about 40 years ago. He took that money and invested it wisely.....not. He bought (with NO expertise or consultation on the subject) two racehorses. Which he had shipped from South Dakota to Texas in summer to run in some race. All fees paid in advance. Fly by night cheapie horse trailer transport. They didn't stop to check on the horses until halfway through the drive, and the horses were in very bad shape. One had to be put down and the other was no longer in prime condition. Insurance? No. Were the transport drivers bonded or insured? Hah. No. Uncle had to sell his (and the wife's) house to pay down his debts. She ended up divorcing him. He had exactly one now-sickly horse left and it cost more to keep in food than it would ever bring in stud fees. What a waste. He should have just dumped the cash on the side of the road for all the good it did.
I have a friend who earns like £50,000 a year working 1 or 2 days a week on average doing gardening self employed, yet he lives month to month, frequently running out of money for food and only earning enough to pay his £850/month rent within the 48 hours prior to it being due. The other day he commented how little money £50k is, and I pointed out he's earning more than 90% of the population... He's also deeply in debt and making no concerted effort to resolve it. He's gonna have a massive tax bill if he ever gets around to filing another tax return...
I watch co-workers who live paycheck to paycheck. They are making 25 to 30 dollars an hour, and Saturdays are time and a half, and Sundays are double time. Everything over 8 hours on weekdays is time and a half. Loads of overtime available. They take a lot of it but still just can't seem to get ahead. So I asked one why he was vocal about his money woes. "Don't you think that your new pickup, your two ATVs, your snowmobile, your cabin up north, the deer blind you just bought and put on that property you rent, might be a SMALL part of the issue?" Him (huffily): "I DESERVE things. I work hard!" P.S. If your Inland Revenue's anything like the USA Internal Revenue Service, they WILL find your friend is a tax dodger, and they WILL spend time and effort (and money!) to catch him. He won't like the consequences.
@@petuniasevan He's already had high court enforcement agents break into his home to try to collect on the fines he owes HMRC (the uk equivalent of the IRS) but the only thing of value that he owns that they could legally take (they can't take anything a person uses to earn their income) was his PS5. That's what's so nuts. He spends all that money and has basically nothing to show for it other than a substantial belly...
Truly, becoming an adult is all about the fear of financial ruin while being a kid is about fearing the monster in the woods. I went on a walk around the lake next to the woods last night in pitch darkness while listening to horror stories and I was fine. Sitting in my well lit, cozy office and listening to this video is giving me legit anxiety. I cannot believe how selfdestructive some people are and it makes me so paranoid about my own spending habits despite me literally buying nothing but food and necessities, paying bills and putting the rest into savings. Treating myself is like ... I dunno, buying soup when it's not on sale.
I work in the pawn industry, so I see a lot of poor financial decisions. Many customers will pawn an item then see something in the store that takes their fancy and buy it. What the heck? You needed cash for food/gas/utility bill or whatever, then you use some of that to buy non essentials? The worst case I've seen is this one customer who managed to rack up around $45,000 in pawn loans. At one point they were paying almost $300 a DAY in interest alone so they wouldn't lose their items. Some days, in order to pay this, they would pawn yet another item, adding to the problem. Eventually they ended up losing most of their stuff. They had paid thousands of dollars over the months to keep them, but still lost stuff. All that money wasted. For over a year we kept telling them to just let it go, but they had high hopes of money coming in so they could pull their items out of pawn. Never happened.
At that point they should just call it quits, get a credit card and buy $45,000 worth of new stuff. At 20% interest, that's only $25 or so per day in interest. Imagine being so bad at managing your finances that defaulting on your debts and maxing your credit cards would actually be a significant improvement.
@@marc-andreservant201 ikr! It's mindblowing that some people allow stuff like jewelry etc to, in effect, control their lives. To the extent that they will leave an item in pawn, paying the high interest each month, for so many years (the longest I have seen is seven years!) that they have paid the pawn shop ten times or more what is actually worth.
My friend, 21 at the time, lives by himself in a rented room near our uni. He gets free uni cause he’s an orphan but doesn’t finish his BS in engineering cause he has to slave away in a Samsung store to make his bills. Never has extra money, spends all of his leftover money on Japanese foods imported from Japan, like candies and chocolates, ramen etc. He gets hit by a car one night when he’s coming home on his bike and took a stop sign. Broke his leg, had emergency surgery. And mind you, his life had a lot of other issues but here I’ll cover just the money. After the insurance cases are over, his “team” of lawyers win him the entire cost of the surgery plus a bunch of damages etc. He gets some 350K, and of course, lawyers and insurance take some 295K and give him 55K. Not little at all, especially for a broke 21 year old. Our other friend & I immediately beg him, WE BEGGED HIM, almost on hands and knees, to put 30K in a dividend stock portfolio, put 5K on major cryptos, and keep 20K in the bank for easy access to live off of whilst he finishes his BS in engineering at our uni (a pretty damn good and reputable university). Mind you, he doesn’t have to pay 1 cent of tuition for his first degree, not even for his materials and books and such. We legit begged him, urged him to like make us his like conservators or some shit like that cause we just knew him, we knew he was going to burn all that cash right away. He ignored us, told us he knew what he was doing… First thing he does, buy his favourite car for 5K, a 1991 E30, a manual 318iS. We were all car dudes so we didn’t mind. I go with him to get the car & a 2JZ-GE plus 6 BBS wheels (all included in the 5K). Aside from needed aesthetic work & no AC nor PS, the car was damn solid baby. Every time we went out we wanted to split everything even but he never let us and payed for everything… one day we ate a huge breakfast all 3 at an ihop, we ordered so much, we shared it all, ate it all, we ate like kings. I shit you not it came out to like 80 bucks each… he took away both our cards as we were giving them to the waitress and gave her his… that one really bothered me inside cause damn bro that’s just not fair for him, that made me feel so bad that he was just mindless spending his cash… he pulled crap like this regularly :/ We always encouraged him to invest in a diversified portfolio and BTC and ETH, never paid us attention… Skip to some 9 months after the accident, he’s down to like 30 some thousand bucks. He bought a PS1, 2, 3, 4, and Xbox 360 and Xbox one I think. And like a box of 1000 plus used games for all these consoles. He wanted to start a photography degree now, because suddenly it’s his “passion.” A degree that wouldn’t be covered by the state anymore, and if he started that and then decided to go back to his BS in engineering the state would no longer cover any costs… thankfully we talked him out of that. Regardless of this, he spent like 3K on a bunch of GoPros, and I shit you not, some like 8-9K on used cameras, both film and digital, plus lenses and other accessories. I was like “bro you don’t know sufficient enough photography to use 99% of this stuff bro!!! And the film??? Do you know how to develop? Fix? Do you even know a dark room you can use???” And he was like “yea bro you know I took photography I in high school…” and I was immediately like :| from someone who took photo I-III in high school and whose dad took like 8 photography courses back in uni and was a professional photographer for like 5 years. My dad has lenses worth in the multiple thousands… we built an entire dark room and he thought me how to develop and use a bunch of chemicals and tricks during development to do crazy stuff… so I wasn’t against my friend doing photography but god damn bro, almost 10K on a bunch of things way above either both of our expertise… at least I got to use his cameras and lenses to take bad ass pics of his E30. He then buys a PS5 on eBay for like 1.2K… and like 4 games… mind you, all this time he’s still going to work and working like a dog so it’s not like he has time to play any video games at all… and when he did it was only minecraft. He bought a new laptop, TV, tablet… one day I went with him to best buy to buy a tablet keyboard. He was about to buy an apple one for like 900 bucks… I stoped him and urged him to buy one that was 350 bucks I think and still worked with Apple and worked just as fine. By this point, some 16 months after the accident he was down to about 11K I think. Now his car started needed new parts to actually be reliable. We rewired most of it but had to get help from a car electric specialist acquaintance we had to help us rewire the fuse box. We put 1.6K coilovers on, we did brakes, handbrake cable, hit the junkyard every now and then for original E30 parts for cheap, we did the entire cooling system anew. In about 3 months (we did 90% of all the work, we didn’t send the car in to the mechanics at all, unless it was a specialty, like the dude who did his side exhaust, at a shop cause we didn’t have pipe benders nor did we know how to weld) he put like 9-10K on the car. About a month after that he was again, broke… lost 55K in less than 2 full years, I don’t even think he hit a full 1 year and a half. He, of course, didn’t save anything at all… oh sorry, yea he did, he bought like 300 worth of BTC :| no stocks, nothing… He went on to blame it on his estranged adoptive parents, saying they took out credit cards under his name and bought a bunch of furniture and vacuums and such… and he had to spend like 30K to clear that credit card debt :| never mind that his adoptive family was well off sooo I don’t see how he thought that would be a good cop out… Fast forward to today, he’s broke, broke as fuck. Slaving away again. Back to his old broke self. No friends (due to other things that happened), no gf, virgin, eating away his pain (regardless of how much everyone around him, especially myself and our friend, tried to help him stop his destructive ways, more so me cause I’ve been down that road, I could see his depression a mile away behind his bs fake smiles and laughs and such), obese, no family (his biological sister still lives at home with his adoptive family). Had to sell the 2JZ for scraps, barely 500 bucks. Had to sell brand new BBS wheels that were worth some 8K for all 6 for like 2K. Had to sell his phones, all his game consoles, his pc, laptop, tablet, all those video games, all together for prob less than 1.5K. Sold all his photography stuff for like 3K… And now he’s selling his favourite car… after buying it for 5K and dropping almost 10K in mods, upgrades and other “level 0” stuff, for 4K… 🤷🏻♂️ it’s truly sad, like not just that, but pathetic too… He used to tell us before we stopped talking to him “I’ll never lose money like this ever again if I get the chance.” And I told him one day “you’ll never just come across money like this… unless you win the lotto & even then… you know you’ll waste it away all over again…”
That friend of yours needed a financial attorney + pshycologist + medication he is gonna end up in the worst case scenario specially when you guys BEGGED for him to be safe with the money if friends cant get throught to him consequences probably will
I’m sorry you had to go through watching him self sabotage like that, you are a good friend who tried. Im also curious what country is this? Because in mine (Canada but the provinces differ in many ways) you would not get paid to go to uni just. Cause your parents died, if you were adopted by rich new parents. and driving insurance is included in the drivers licence fee, it’s mandatory that way, and, it’s “no fault”. Insurances You don’t get anything from being hit by a car (I’ve been hit by a car who admitted he was at fault). however, medical costs are mostly free.
I was a fast food manager. We had an employee who would only work 20 hours a week. She had no other job. She explained her reason to me. Years ago she had bought a brand new pickup truck she couldn't afford. The truck got repossessed but she still owed money on it. If her income went over a certain level they would garnish her wages. So her plan was to spend her remaining time on this planet flying under the radar of her creditors by working 20 hours a week at minimum wage, rather than pay off the debt she legally incurred and get on with her life.
I have bailed at least 3 people out of jail and NEVER SEEN A CENT of it back. Yes, all the people showed up to their court dates, etc. and no, it didn’t go to them. There were no “fees” and I repeatedly tried to contact them to get my money back and always got the runaround. (This was in Oregon)
My now ex wife had a financial management policy I referred to as "no dollar left behind". Day after my check went in, it was gone, but bills weren't paid. We didn't have nice stuff, but nearly a hoarder house. She got an inheritance, about $17k. Instead of paying off debts, putting a down payment on a house, or just having money set aside, she had a truckload of solid wood unfinished furniture delivered. I had to finish it, as she was sick. And then the kids drew all over it, the dogs chewed on it, and it was pretty much worthless by the time we got kicked out of that rental.
I'm having a really hard time getting used to having (and by causation, keeping) money. I'm glad to see that even for how dogshit my financial skills are, they are NOTHING compared to these.
She liked to debt juggle( Borrow from me 5k to pay 2.5k of her 5k debt to person B, then pay 1k of her 5k debt from person C, then borrow 5k from person D to pay me 3k, all with the remainder being "to follow". Needless to say, we were all pissed when she showed on facebook her newest phone being the recently released iphone at the time... 😅😅😅
It turns out buying a huge truck and declaring bankruptcy doesn't quite work. It's a secured debt, so the bank will tow it away when you stop paying. Bankruptcy eliminates the debt, but it also eliminates the truck.
13:55 I knew a guy like that, too. Decided he needs a car, which is fair enough, because he lives far away from uni. Then takes like $15K of student loans, and proceeds to blow it on a used Mini Cooper, which is considered sort of a luxury car where I live, and is notoriously unreliable and expensive to maintain.
Ok tbf Weed isn't addictive the same way other stuff is, you won't go through withdrawals the same way, but it's effect helps distract from things. Often times people who smoke weed and are poor wont choose to stop smoking because there will be a period of time where everything immediately feels 10X worse. The point is if someone says "I can stop weed I just enjoy it too much to stop rn" they're right, don't treat them like they're weak-willed. Don't treat anyone with an addiction like they're weak-willed anyway, it's serious and "kicking a habit" isn't as easy as dropping wheat from your diet
Two for me, a brother sister combo. The brother lived with their parents in a small house out of town, both he and the parents living of welfare (he has medical issues that makes it hard for him to get a job). The sister ends up getting a minimum wage job and renting a house with like 5 other people, only has to pay 300 a month in rent, yet somehow manages to rack up over 600 in debt to the brother in grocery money while constantly being in overdraft over the course of a few months. The brother ends up getting a decent job and my parents let him stay at our place for a while so he can find a place in town. Despite only owning them 100 a month, and that and his phone bill being his only bills, he somehow doesn't save a single cent over the course of living with them for 6 months.
I was raised on the idea of working 12 hours a day and being happy with cold canned soup. I consider dropping 10 bucks on Burgerking the highlight of the week. My dad wore the same 12 shirts and pants for 40+ years and now that he died of cancer I wear them because they are "still good". I was raised to be able to feed a family of 7 alone and I did one better, and boy It took me 3 months to convince me to get a 1500 bucks gaming PC like 3 years back. Only non-second hand Item I ever got. Wasn't even top of the line at that time. If my boss would stop paying me I would only notice years later.
@@Switchemdown2hell yeah, its not like you can invest it, buy some assets, buy a few franchises, etc., but no. being a rapper, you're gonna be dumb with your money no matter what. take t pain, mc hammer, and xzibit for example.
It depends on what they spent on, if its on the average and its on bills, basic neccessities, maybe a gift or two for some lovedones then hes fine. If its anything on useless stuff he cant care for its a problem
While my sister hasn't fricked up with nearly the amount of money that the people in these stories have, she woefully mismanages the meager bit of money she does have. She rented-to-own TV's for us a few years back because I decided to do the same with a tablet PC I always wanted (not smart on my part I'll admit but it's the only thing I've ever done that with) My sister is NOT a TV person and never has been, so it was no surprise when she returned hers after it was halfway paid off. Wanted to rent a Nintendo switch at $100 for 12 months, which after taxes and fees and whatever, she'd have paid $1400 easily for a console that was $300 brand new. This is something I had to talk her out of a few times. She wasn't able to save for the switch either because despite the fact that it would have taken maybe 3-4 months tops to do so, she is incapable of saving money, likely due to a spending addiction/poor impulse control. The girl could have $3 left to her name and she'll start hunting down someone to take her to Dollar Tree so she can spend it. She can also make large amounts of money disappear while having very little, if anything, to show for it. She also has a habit of buying stuff she doesn't need and has less interest in than she thinks. She plays around with it for a bit before it sits there collecting dust and eventually gets sold, the money from which promptly gets spent on cigarettes and take-out. Because of this, she has nothing to her name that's worth anything because she sells it all.
Had a friend that got into a very well paying government job (nepotism of course) Bought a Landrover (2nd hand) and lost his job shortly after due to government change his biggest mistake was not selling that thing
21:43 _"If you can make one heap of all your winnings_ _And risk it on one turn of pitch-and-toss,_ _And lose, and start again at your beginnings_ _And never breathe a word about your loss_ _[...] yours is the Earth, and everything thats in it."_
The game store one doesn't surprise me, those businesses have incredibly slim profit margins, its why they're almost always run by one or two people at most unless it's a games workshop store. Location shouldn't matter too much unless you really are in the middle of nowhere, just selling warhammer at a 20% discount is enough to entice customers, however you absolutely need to build a community which from the sounds of it the guy didn't do, he just wanted people to turn up, buy stuff, and leave. The online retailer thing wasn't a bad idea either, especially after covid a lot of independent game stores make most of their profits online, but they all built their physical locations up first.
People who owe you money. Ask for help so you loan more money to helpout and forgive a few months payment and just forgive half the debt to see a week later they got a sleeve tattoo on facebook.
Better to learn that lesson at age 11 and lose your video game money, than to learn it at 21 and lose your car, or to learn it at 31 and lose your house.
..my friend works and complains she never has $. Her sunglasses $600 Her new phone $1,000 I don't have any sunglasses.. My phone was free for upgrading..
During the height of the pandemic, I was depressed, lonely, and unemployed for three months, so I wasn't in the best mind set. Long story short, I got catfished and lost most of my life savings at the time, about $9k I think. Thankfully, I am now in a better place mentally and financially. It was a hard lesson to learn and I still kick myself sometimes for being so stupid and losing so much money.
if you're alone with no one to support you or no one to pass on anything, why the fuck would you spend your later part of your life saving up for a house lol
Oh boy. Husband's uncle came into a windfall of about $1.5 million about 40 years ago. He took that money and invested it wisely.....not. He bought (with NO expertise or consultation on the subject) two racehorses. Which he had shipped from South Dakota to Texas in summer to run in some race. All fees paid in advance. Fly by night cheapie horse trailer transport. They didn't stop to check on the horses until halfway through the drive, and the horses were in very bad shape. One had to be put down and the other was no longer in prime condition. Insurance? No. Were the transport drivers bonded or insured? Hah. No. Uncle had to sell his (and the wife's) house to pay down his debts. She ended up divorcing him. He had exactly one now-sickly horse left and it cost more to keep in food than it would ever bring in stud fees. What a waste. He should have just dumped the cash on the side of the road for all the good it did.
Jeez wtf
Tbh deserved for fucking around with live animals.
What a bellend
@@petuniasevan dump it to the side of the road? At least that won’t steal your house and wife
I have a friend who earns like £50,000 a year working 1 or 2 days a week on average doing gardening self employed, yet he lives month to month, frequently running out of money for food and only earning enough to pay his £850/month rent within the 48 hours prior to it being due. The other day he commented how little money £50k is, and I pointed out he's earning more than 90% of the population...
He's also deeply in debt and making no concerted effort to resolve it.
He's gonna have a massive tax bill if he ever gets around to filing another tax return...
I watch co-workers who live paycheck to paycheck. They are making 25 to 30 dollars an hour, and Saturdays are time and a half, and Sundays are double time. Everything over 8 hours on weekdays is time and a half. Loads of overtime available. They take a lot of it but still just can't seem to get ahead.
So I asked one why he was vocal about his money woes.
"Don't you think that your new pickup, your two ATVs, your snowmobile, your cabin up north, the deer blind you just bought and put on that property you rent, might be a SMALL part of the issue?" Him (huffily): "I DESERVE things. I work hard!"
P.S. If your Inland Revenue's anything like the USA Internal Revenue Service, they WILL find your friend is a tax dodger, and they WILL spend time and effort (and money!) to catch him. He won't like the consequences.
@@petuniasevan He's already had high court enforcement agents break into his home to try to collect on the fines he owes HMRC (the uk equivalent of the IRS) but the only thing of value that he owns that they could legally take (they can't take anything a person uses to earn their income) was his PS5. That's what's so nuts. He spends all that money and has basically nothing to show for it other than a substantial belly...
I’m sorry, but making 50,000 grand a year working twice a week is nuts. If he weren’t so lazy, and worked 5 days, he’d make literally 100k+ a year.
Truly, becoming an adult is all about the fear of financial ruin while being a kid is about fearing the monster in the woods. I went on a walk around the lake next to the woods last night in pitch darkness while listening to horror stories and I was fine. Sitting in my well lit, cozy office and listening to this video is giving me legit anxiety. I cannot believe how selfdestructive some people are and it makes me so paranoid about my own spending habits despite me literally buying nothing but food and necessities, paying bills and putting the rest into savings. Treating myself is like ... I dunno, buying soup when it's not on sale.
really got me with the " I dunno, buying soup when it's not on sale". You get it man
Even as an adult I fear a monster in the woods..
The monster in the woods was financial ruin all along.
@@MystMagus _oooOooo give me your money ooOooOoo_
The monster in the woods is financial ruin for me.
The more I watch videos like this, the more I realize that Reddit is a pretty good guide to life.
I work in the pawn industry, so I see a lot of poor financial decisions. Many customers will pawn an item then see something in the store that takes their fancy and buy it. What the heck? You needed cash for food/gas/utility bill or whatever, then you use some of that to buy non essentials?
The worst case I've seen is this one customer who managed to rack up around $45,000 in pawn loans. At one point they were paying almost $300 a DAY in interest alone so they wouldn't lose their items. Some days, in order to pay this, they would pawn yet another item, adding to the problem. Eventually they ended up losing most of their stuff. They had paid thousands of dollars over the months to keep them, but still lost stuff. All that money wasted. For over a year we kept telling them to just let it go, but they had high hopes of money coming in so they could pull their items out of pawn. Never happened.
At that point they should just call it quits, get a credit card and buy $45,000 worth of new stuff. At 20% interest, that's only $25 or so per day in interest. Imagine being so bad at managing your finances that defaulting on your debts and maxing your credit cards would actually be a significant improvement.
@@marc-andreservant201 ikr! It's mindblowing that some people allow stuff like jewelry etc to, in effect, control their lives. To the extent that they will leave an item in pawn, paying the high interest each month, for so many years (the longest I have seen is seven years!) that they have paid the pawn shop ten times or more what is actually worth.
My friend, 21 at the time, lives by himself in a rented room near our uni. He gets free uni cause he’s an orphan but doesn’t finish his BS in engineering cause he has to slave away in a Samsung store to make his bills. Never has extra money, spends all of his leftover money on Japanese foods imported from Japan, like candies and chocolates, ramen etc.
He gets hit by a car one night when he’s coming home on his bike and took a stop sign. Broke his leg, had emergency surgery. And mind you, his life had a lot of other issues but here I’ll cover just the money.
After the insurance cases are over, his “team” of lawyers win him the entire cost of the surgery plus a bunch of damages etc. He gets some 350K, and of course, lawyers and insurance take some 295K and give him 55K. Not little at all, especially for a broke 21 year old.
Our other friend & I immediately beg him, WE BEGGED HIM, almost on hands and knees, to put 30K in a dividend stock portfolio, put 5K on major cryptos, and keep 20K in the bank for easy access to live off of whilst he finishes his BS in engineering at our uni (a pretty damn good and reputable university). Mind you, he doesn’t have to pay 1 cent of tuition for his first degree, not even for his materials and books and such.
We legit begged him, urged him to like make us his like conservators or some shit like that cause we just knew him, we knew he was going to burn all that cash right away.
He ignored us, told us he knew what he was doing…
First thing he does, buy his favourite car for 5K, a 1991 E30, a manual 318iS. We were all car dudes so we didn’t mind. I go with him to get the car & a 2JZ-GE plus 6 BBS wheels (all included in the 5K). Aside from needed aesthetic work & no AC nor PS, the car was damn solid baby.
Every time we went out we wanted to split everything even but he never let us and payed for everything… one day we ate a huge breakfast all 3 at an ihop, we ordered so much, we shared it all, ate it all, we ate like kings. I shit you not it came out to like 80 bucks each… he took away both our cards as we were giving them to the waitress and gave her his… that one really bothered me inside cause damn bro that’s just not fair for him, that made me feel so bad that he was just mindless spending his cash… he pulled crap like this regularly :/
We always encouraged him to invest in a diversified portfolio and BTC and ETH, never paid us attention…
Skip to some 9 months after the accident, he’s down to like 30 some thousand bucks.
He bought a PS1, 2, 3, 4, and Xbox 360 and Xbox one I think. And like a box of 1000 plus used games for all these consoles.
He wanted to start a photography degree now, because suddenly it’s his “passion.” A degree that wouldn’t be covered by the state anymore, and if he started that and then decided to go back to his BS in engineering the state would no longer cover any costs… thankfully we talked him out of that. Regardless of this, he spent like 3K on a bunch of GoPros, and I shit you not, some like 8-9K on used cameras, both film and digital, plus lenses and other accessories. I was like “bro you don’t know sufficient enough photography to use 99% of this stuff bro!!! And the film??? Do you know how to develop? Fix? Do you even know a dark room you can use???” And he was like “yea bro you know I took photography I in high school…” and I was immediately like :| from someone who took photo I-III in high school and whose dad took like 8 photography courses back in uni and was a professional photographer for like 5 years. My dad has lenses worth in the multiple thousands… we built an entire dark room and he thought me how to develop and use a bunch of chemicals and tricks during development to do crazy stuff… so I wasn’t against my friend doing photography but god damn bro, almost 10K on a bunch of things way above either both of our expertise… at least I got to use his cameras and lenses to take bad ass pics of his E30.
He then buys a PS5 on eBay for like 1.2K… and like 4 games… mind you, all this time he’s still going to work and working like a dog so it’s not like he has time to play any video games at all… and when he did it was only minecraft.
He bought a new laptop, TV, tablet… one day I went with him to best buy to buy a tablet keyboard. He was about to buy an apple one for like 900 bucks… I stoped him and urged him to buy one that was 350 bucks I think and still worked with Apple and worked just as fine.
By this point, some 16 months after the accident he was down to about 11K I think. Now his car started needed new parts to actually be reliable. We rewired most of it but had to get help from a car electric specialist acquaintance we had to help us rewire the fuse box. We put 1.6K coilovers on, we did brakes, handbrake cable, hit the junkyard every now and then for original E30 parts for cheap, we did the entire cooling system anew. In about 3 months (we did 90% of all the work, we didn’t send the car in to the mechanics at all, unless it was a specialty, like the dude who did his side exhaust, at a shop cause we didn’t have pipe benders nor did we know how to weld) he put like 9-10K on the car.
About a month after that he was again, broke… lost 55K in less than 2 full years, I don’t even think he hit a full 1 year and a half. He, of course, didn’t save anything at all… oh sorry, yea he did, he bought like 300 worth of BTC :| no stocks, nothing…
He went on to blame it on his estranged adoptive parents, saying they took out credit cards under his name and bought a bunch of furniture and vacuums and such… and he had to spend like 30K to clear that credit card debt :| never mind that his adoptive family was well off sooo I don’t see how he thought that would be a good cop out…
Fast forward to today, he’s broke, broke as fuck. Slaving away again. Back to his old broke self. No friends (due to other things that happened), no gf, virgin, eating away his pain (regardless of how much everyone around him, especially myself and our friend, tried to help him stop his destructive ways, more so me cause I’ve been down that road, I could see his depression a mile away behind his bs fake smiles and laughs and such), obese, no family (his biological sister still lives at home with his adoptive family). Had to sell the 2JZ for scraps, barely 500 bucks. Had to sell brand new BBS wheels that were worth some 8K for all 6 for like 2K. Had to sell his phones, all his game consoles, his pc, laptop, tablet, all those video games, all together for prob less than 1.5K. Sold all his photography stuff for like 3K…
And now he’s selling his favourite car… after buying it for 5K and dropping almost 10K in mods, upgrades and other “level 0” stuff, for 4K…
🤷🏻♂️ it’s truly sad, like not just that, but pathetic too…
He used to tell us before we stopped talking to him “I’ll never lose money like this ever again if I get the chance.” And I told him one day “you’ll never just come across money like this… unless you win the lotto & even then… you know you’ll waste it away all over again…”
Wow that was a read Holy shit I have never seen someone screw themselves over so hard
@@rexthedinosaur2229 trust me it’s worse, this only on the monetary side of his decline
@@Gamer.Instinct goddamn, I guess the guy is still digging for the new rock bottom?
That friend of yours needed a financial attorney + pshycologist + medication he is gonna end up in the worst case scenario specially when you guys BEGGED for him to be safe with the money if friends cant get throught to him consequences probably will
I’m sorry you had to go through watching him self sabotage like that, you are a good friend who tried.
Im also curious what country is this? Because in mine (Canada but the provinces differ in many ways) you would not get paid to go to uni just. Cause your parents died, if you were adopted by rich new parents. and driving insurance is included in the drivers licence fee, it’s mandatory that way, and, it’s “no fault”. Insurances You don’t get anything from being hit by a car (I’ve been hit by a car who admitted he was at fault). however, medical costs are mostly free.
I was a fast food manager. We had an employee who would only work 20 hours a week. She had no other job. She explained her reason to me. Years ago she had bought a brand new pickup truck she couldn't afford. The truck got repossessed but she still owed money on it. If her income went over a certain level they would garnish her wages. So her plan was to spend her remaining time on this planet flying under the radar of her creditors by working 20 hours a week at minimum wage, rather than pay off the debt she legally incurred and get on with her life.
14:18, this epitomizes the idea that just because you have a college degree does not mean that you are intelligent or that you possess common sense.
I have bailed at least 3 people out of jail and NEVER SEEN A CENT of it back. Yes, all the people showed up to their court dates, etc. and no, it didn’t go to them. There were no “fees” and I repeatedly tried to contact them to get my money back and always got the runaround. (This was in Oregon)
If you bailed 3 people out of jail, odds are you are hanging around with the wrong crowd, and should choose your friends more carefully.
You should get better friends, and stop "loaning" money to people who'll never pay it back
My now ex wife had a financial management policy I referred to as "no dollar left behind". Day after my check went in, it was gone, but bills weren't paid. We didn't have nice stuff, but nearly a hoarder house. She got an inheritance, about $17k. Instead of paying off debts, putting a down payment on a house, or just having money set aside, she had a truckload of solid wood unfinished furniture delivered. I had to finish it, as she was sick. And then the kids drew all over it, the dogs chewed on it, and it was pretty much worthless by the time we got kicked out of that rental.
You don’t get bail refunded unless the accused person makes all of their scheduled court appearances. If not, the money is forfeited.
this made me feel so much better about my spending habits
I'm having a really hard time getting used to having (and by causation, keeping) money. I'm glad to see that even for how dogshit my financial skills are, they are NOTHING compared to these.
She liked to debt juggle( Borrow from me 5k to pay 2.5k of her 5k debt to person B, then pay 1k of her 5k debt from person C, then borrow 5k from person D to pay me 3k, all with the remainder being "to follow". Needless to say, we were all pissed when she showed on facebook her newest phone being the recently released iphone at the time... 😅😅😅
It turns out buying a huge truck and declaring bankruptcy doesn't quite work. It's a secured debt, so the bank will tow it away when you stop paying. Bankruptcy eliminates the debt, but it also eliminates the truck.
13:55 I knew a guy like that, too. Decided he needs a car, which is fair enough, because he lives far away from uni.
Then takes like $15K of student loans, and proceeds to blow it on a used Mini Cooper, which is considered sort of a luxury car where I live, and is notoriously unreliable and expensive to maintain.
Has the third person ( 2:51 ) been evaluated for ADHD? Like genuinely
Ok tbf Weed isn't addictive the same way other stuff is, you won't go through withdrawals the same way, but it's effect helps distract from things. Often times people who smoke weed and are poor wont choose to stop smoking because there will be a period of time where everything immediately feels 10X worse. The point is if someone says "I can stop weed I just enjoy it too much to stop rn" they're right, don't treat them like they're weak-willed. Don't treat anyone with an addiction like they're weak-willed anyway, it's serious and "kicking a habit" isn't as easy as dropping wheat from your diet
Yeah, it isn’t the same kind of addictive as other dugs like alcohol, but you can still become psychologically dependent on it.
Buying Twitter 🤣
Two for me, a brother sister combo. The brother lived with their parents in a small house out of town, both he and the parents living of welfare (he has medical issues that makes it hard for him to get a job). The sister ends up getting a minimum wage job and renting a house with like 5 other people, only has to pay 300 a month in rent, yet somehow manages to rack up over 600 in debt to the brother in grocery money while constantly being in overdraft over the course of a few months. The brother ends up getting a decent job and my parents let him stay at our place for a while so he can find a place in town. Despite only owning them 100 a month, and that and his phone bill being his only bills, he somehow doesn't save a single cent over the course of living with them for 6 months.
I was raised on the idea of working 12 hours a day and being happy with cold canned soup. I consider dropping 10 bucks on Burgerking the highlight of the week. My dad wore the same 12 shirts and pants for 40+ years and now that he died of cancer I wear them because they are "still good". I was raised to be able to feed a family of 7 alone and I did one better, and boy It took me 3 months to convince me to get a 1500 bucks gaming PC like 3 years back. Only non-second hand Item I ever got. Wasn't even top of the line at that time.
If my boss would stop paying me I would only notice years later.
You may be taking it too far
I’d say f@@k no if my parents told me to buy my younger brother a car
lil uzi vert blew 24MILLION on a diamond and surgically put it on his forehead, and of course someone snatched that thing off at one of his concerts
He got it back
@@Lili-ey1nd but still, no matter how rich you are, that was a dumb investment
It was not 24milli dont worry
I feel like that is just having so much money and not knowing what to do with it
@@Switchemdown2hell yeah, its not like you can invest it, buy some assets, buy a few franchises, etc., but no. being a rapper, you're gonna be dumb with your money no matter what. take t pain, mc hammer, and xzibit for example.
I know someone who spent $53k in a year.
Most adults spend 53k a year. That's pretty normal.
It depends on what they spent on, if its on the average and its on bills, basic neccessities, maybe a gift or two for some lovedones then hes fine. If its anything on useless stuff he cant care for its a problem
53k a year is like just barely enough to cover your basic needs. 1/2 probably goes to housing expenses alone.
@@mikeforcerer8537are you insane?
@@maxwellmagee4816 Is 53k to much to spend or not enough? i not sure which direction you are going.
While my sister hasn't fricked up with nearly the amount of money that the people in these stories have, she woefully mismanages the meager bit of money she does have. She rented-to-own TV's for us a few years back because I decided to do the same with a tablet PC I always wanted (not smart on my part I'll admit but it's the only thing I've ever done that with) My sister is NOT a TV person and never has been, so it was no surprise when she returned hers after it was halfway paid off. Wanted to rent a Nintendo switch at $100 for 12 months, which after taxes and fees and whatever, she'd have paid $1400 easily for a console that was $300 brand new. This is something I had to talk her out of a few times.
She wasn't able to save for the switch either because despite the fact that it would have taken maybe 3-4 months tops to do so, she is incapable of saving money, likely due to a spending addiction/poor impulse control. The girl could have $3 left to her name and she'll start hunting down someone to take her to Dollar Tree so she can spend it. She can also make large amounts of money disappear while having very little, if anything, to show for it.
She also has a habit of buying stuff she doesn't need and has less interest in than she thinks. She plays around with it for a bit before it sits there collecting dust and eventually gets sold, the money from which promptly gets spent on cigarettes and take-out. Because of this, she has nothing to her name that's worth anything because she sells it all.
Had a friend that got into a very well paying government job (nepotism of course)
Bought a Landrover (2nd hand) and lost his job shortly after due to government change
his biggest mistake was not selling that thing
21:43
_"If you can make one heap of all your winnings_
_And risk it on one turn of pitch-and-toss,_
_And lose, and start again at your beginnings_
_And never breathe a word about your loss_
_[...] yours is the Earth, and everything thats in it."_
Remember folks, the only one who wins in a long and messy divorce settlement is the lawyers
Buddy spends all his money on a damn bike with a motor on it. Doesn't even have a house anymore
Is it a motorcycle, by any chance?
Buying Twitter to stop people from making fun of you.
My friend spent $7,000 on a totaled car.
The game store one doesn't surprise me, those businesses have incredibly slim profit margins, its why they're almost always run by one or two people at most unless it's a games workshop store. Location shouldn't matter too much unless you really are in the middle of nowhere, just selling warhammer at a 20% discount is enough to entice customers, however you absolutely need to build a community which from the sounds of it the guy didn't do, he just wanted people to turn up, buy stuff, and leave. The online retailer thing wasn't a bad idea either, especially after covid a lot of independent game stores make most of their profits online, but they all built their physical locations up first.
I blew over $100 on Christmas gifts including a edible geode the crystals are sugar the shell is chocolate
That girls uncle is a saint
*Buying Loot boxes.*
I love to play online games and it's INSANITY to purchase bits of non-useful code with real life money. Microtransactions are such a slippery slope.
@@petuniasevan True! 😅
my dad. spent the last 40 years spending everything he and my mother get on affairs and gambling. about 80k in debt. sucks ass.
Investing it all in FTX
People who owe you money. Ask for help so you loan more money to helpout and forgive a few months payment and just forgive half the debt to see a week later they got a sleeve tattoo on facebook.
17:27 Wtf it was his money :/
This makes me feel More and more Lucky about having 13k In the pocket every second.
Here we go
That hitman one is sad.
Better to learn that lesson at age 11 and lose your video game money, than to learn it at 21 and lose your car, or to learn it at 31 and lose your house.
I buy Cards but I should really save my money instead cuz I don't pull anything great. Lol 😄
Fuck and people said I was wasting my money buying farm's.
..my friend works and complains she never has $.
Her sunglasses $600
Her new phone $1,000
I don't have any sunglasses..
My phone was free for upgrading..
Anyone who has purchased crypto in the last 5 years! Or used an investing company to invest in crypto! YOU LOST IT! LOL
Pope eyes.
posted by the "you will own nothing and be happy" gang
E
money disappear around women, shocking. *sips from his mgtow cup*
And yet, half these stories are about men.
@@WobblesandBean and somehow i dont care.
Who's this guy that's mooching off women, does he look like George Clooney or something?
During the height of the pandemic, I was depressed, lonely, and unemployed for three months, so I wasn't in the best mind set. Long story short, I got catfished and lost most of my life savings at the time, about $9k I think. Thankfully, I am now in a better place mentally and financially. It was a hard lesson to learn and I still kick myself sometimes for being so stupid and losing so much money.
damn that really sucks. at the end of the day, $9k hopefully wont kill you and you can recover from it. live and learn
Yeah, that's the worst. Even the most financially sound people can be idiots with their money when depression hits. Glad to hear you're doing better.
4th
Crypto and stocks....I invest in both but ik some people who dump everything into it
if you're alone with no one to support you or no one to pass on anything, why the fuck would you spend your later part of your life saving up for a house lol
So you aren't kicked out on the street in retirement because your landlord felt like it?
7th
8th