What's the biggest mistake you've made in trying to make money?

Supergrass
Supergrass

What's the biggest mistake you've made in trying to make money?

I bought $1500 worth of grain free dog food from a wholesaler, thinking I could flip it on eBay. I sold one bag and the customer demanded a refund.

Harmless_Venom
Harmless_Venom

Going to university

Sir_Gallonhead
Sir_Gallonhead

@Supergrass
I spent a year of my life and $10,000 trying to make it at a prop firm.

Stupidasole
Stupidasole

@Supergrass
Why did he demand a refund

viagrandad
viagrandad

Investing money into friends restaurant and a relative's business

Poker_Star
Poker_Star

Lmao

Burnblaze
Burnblaze

@Sir_Gallonhead
would love to hear more

Emberburn
Emberburn

@Supergrass
#1: I signed a $500k+ contract with a certain company to provide services in the summer of 2008. When the market crash hit their interests they shut the job down but I had already dropped $100k into equipment, supplies and payroll to get work started.
Lucky for me they got going on the job again a year later, so it wasn't a total loss, but that was a scare.

#2: Same company, I'm grossing $80k per month working for them, I have all my estimated taxes paid. In 2011 these fuckers decide to pay me for January '12 in December of '11 so they can post a 4th quarter loss.
So I get hit with $80k of income for which I have no expenses to show, and for which I haven't paid any taxes.
IRS winds up taking almost $40,000 of it in extra taxes because my buttfuck client screwed me.
I did get to write off a nice loss in '12 because of it though.

Fuzzy_Logic
Fuzzy_Logic

@Supergrass
College degree

New_Cliche
New_Cliche

Majoring in accounting
Getting a gf

Nojokur
Nojokur

@Harmless_Venom
t. NEET, failed normie

Illusionz
Illusionz

Listening to my lying mother.

Raving_Cute
Raving_Cute

@Supergrass
Getting Married.

Booteefool
Booteefool

@Harmless_Venom
Same.

Boy_vs_Girl
Boy_vs_Girl

@Illusionz
The feels

MPmaster
MPmaster

taking advice from people not in my line of work

farquit
farquit

@Harmless_Venom
@Raving_Cute

Both of THESE.

likme
likme

buying SGY at 14.01 a share, looks like it may be turning around tho

TurtleCat
TurtleCat

@Supergrass

Taking that fucking job because I as mad and they promised me more money. While going through the interview, I rationalized making less money than at my current job. Fucking stupid move. Fucked me for a year and a half. Still getting fucked.

LuckyDusty
LuckyDusty

@Harmless_Venom
Kek, I'm so glad I got out when I could. Student loans are on course to bubble and pop.

Raving_Cute
Raving_Cute

$500 in Bitcoin about 4 years ago.

At first I lost money from price crash, then when I tried to withdraw I either entered in the wrong BTC code thing you get, or couldn't fucking find where my money was sent to.

Spamalot
Spamalot

@Raving_Cute
lol friendly reminder those ~40 btc would be worth a little over $24k right now...

maybe try to find the btc wallet you sent it to again.

SniperWish
SniperWish

@New_Cliche
This

Why God? Why did I become an accountant?

Booteefool
Booteefool

Wanted to start publishing Kindle ebooks
Slightly edited old pieces of uni work (in computer networking security) and published 3, did okay in sales, had around a sale a day for the first month without any marketing or anything
decided to get a ghostwriter to write me a longer book with the aim of marketting it fully and trying to make a good product
came up with idea, drafted sections, hired ghostwriter off Fiverr
a week in, asked if I could see his progress so far so I could review. His answer was basically "I'd rather you waited until the end, it will distract me". Oblige with him.
Work finally completed, looked over it
It was complete garbage. It was so difficult to read, needlessly using long words, endlessly going into long, unneccesary metaphors, avoiding the whole subject
Sold 2 copies. Wasted a couple hundred quid

Playboyize
Playboyize

I tried to serve a market that was under served for a reason.

collect figures
had a difficult time finding them offline for over 10 years
see online sales going strong and assume many others like me who would buy locally if it was an option
open wholesale account
discount is small but I'll be OK if I can get retail

most convention organizers are super greedy
booth fees skyrocketing, traffic falling
in state collectors are cheap cheap cheap
tablet + Square reader barely used
have to collect sakes tax, treated like sheriff of Nottingham
watch Funko Pop dealers do brisk business while back stock accumulates
sell more online, to FL, through highest fee venue, than anything else

favorite online store reacting negatively to what I assume are the same market pressures on a larger scale and may end involvement as a hobby...

happy_sad
happy_sad

@Supergrass
Living in Ireland

TurtleCat
TurtleCat

@Supergrass
business got rekt by the NSA

Stark_Naked
Stark_Naked

@Supergrass
worked customer service at a branch office of a discount brokerage firm in college
lots of people coming in to open accounts and asking about a particular penny stock
apparently someone at the local church was pumping this stock and spreading the word
it was up something like 400% in a week
i knew better, but i put $2k into it (which was a lot for me at the time)
starts tanking within hours
i pull out taking a 50% loss
some of these people opening new accounts were clearly unsophisticated investors and putting $20k+ into this stock
glad i learned my lesson and only lost $1k

Carnalpleasure
Carnalpleasure

@LuckyDusty
Suppose it were to pop, would it not be good to get in on free education then

lostmypassword
lostmypassword

@TurtleCat
Go on?

Snarelure
Snarelure

@Burnblaze
Don't do it. They make most of their money from your commissions. Once I learned that, I left and just traded for myself.

Ignoramus
Ignoramus

@Supergrass
Make a bet where i put 3€, win 6000€ if it works.
Don't finish the bet because i realize it will be another loss, better make a safer bet.
the bet i didn't do was good

MPmaster
MPmaster

BP
SAVE
F

I've had a mixture of results on the stock market. Some big wins, but those three would be my biggest losers so far.

Stark_Naked
Stark_Naked

Going to art school.

Me pre-/biz/

MPmaster
MPmaster

@LuckyDusty
Student loans will never pop. They're backed by the government

@Nojokur
Nope not at all

lostmypassword
lostmypassword

@Emberburn
I don't know how you handle thta stress..id die

cum2soon
cum2soon

@Supergrass
Spent ~30k on a dump truck business. Went legit, advertised, made ~27k after working 50+ hours a week.

Bough the house next door to rent.

Eating the payment because our last tennant was a meth user and drummer that worked nights.

Meh, both are easy learning exoeriences. And the house has a 0% interest rate so we essentially paying ourselves. Can always borrow ~80% against it for a down payment on another.

just gotta keep on keepin' on.

idontknow
idontknow

@Emberburn
Dont blame the client dipshit... refuse payment and dont cash the check till jan 1.

profit!

Pic related. Dont be stupid like my captcha...

GoogleCat
GoogleCat

paid 50€ for soup spice thinking its hash

lose 400€ in online poker while high

overall i was always solid, financially, if a little too risk-averse and without any entrepreneurial spirit. my parents are doctors, grandparents farmers and public officials, it runs in the family

whereismyname
whereismyname

@lostmypassword
there's only so much you can do. After a certain point you can't worry about it. Either fix it or cut it loose.

@idontknow
Do they still write $80,000 paper checks to contractors where you live? That's cute.

farquit
farquit

@Harmless_Venom

spent 6 years and $50,000 plus opportunity cost going to uni
get out, look at jobs
pay what I could get working without a degree
expected to take shitty 30k a year jobs and "work your way up" to 60k after 4 or 5 years
profs told me all this shit about 50k starting
it was a lie

@SniperWish
@New_Cliche

You guys, too? Overhyped degree...the jobs are shit. They want 3 years xp to make 16 an hour. Should I bother getting a CPA? I just don't feel like spending 3 months studying like a chink and like $1500 to take some hyper stressful test and then pay bribe money to them to not revoke it every year.

It's been months and I am still unemployed. I want to kill myself. All those years of my life, gone. We should storm the universities and burn them down. Not even kidding I would participate in an act of retribution.

5mileys
5mileys

@Supergrass
Wow... good thing I'm not using E-bay. Looks like this year everyone is in full refund scam mode.

Hmm... maybe we could become the refund scammers.

w8t4u
w8t4u

@Emberburn
what do you do?

Poker_Star
Poker_Star

@idontknow
@whereismyname
How you know this nigger never made more than min wage

Deadlyinx
Deadlyinx

@farquit
It's been months and I am still unemployed

wow that's fucking pathetic. go work in a restaurant or something you idiot

Skullbone
Skullbone

@Harmless_Venom
tfw got Broadcast Journalism degree

It sucks that no one's hiring at all, even with my resume bait. Guess I gotta work at a "regular" job till then.

Emberfire
Emberfire

@w8t4u
environmental contractor for mining.

@Poker_Star
Attached please find a copy of my 2011 work order for a portion of that job. It paid somewhat more than min wage.

Flameblow
Flameblow

@Emberfire
Sigh.. I meant the guy talking about not cashing the check but ok. You have a huge penis user.

WebTool
WebTool

@Supergrass
I spent 470 bucks to gain access to this stock trading room and lost 500 on my first trade, then went broke. Now thats pretty bad.

Yes I regret it never doing that again. =/

TurtleCat
TurtleCat

@Flameblow
my apologies for being slow then.

eGremlin
eGremlin

@Deadlyinx

I don't get the point of working shit jobs for shit wages. Like what the hell was my degree for.

BinaryMan
BinaryMan

@eGremlin
To not starve maybe?

Stupidasole
Stupidasole

@eGremlin
You work for those jobs to keep going on and living and hope the degree lands you in a better place eventually. I guess that's what I'm thinking for my mine, but they just are not getting back to me whenever I'm sending those apps out.

Fried_Sushi
Fried_Sushi

@BinaryMan

I'm not at risk for three more months. Savings, man. Idk I might get a weekend job as a barista or something as I'm thinking about it. Winter is coming so I won't be doing much outdoors anyway...my sports clubs are all turning in around October. I guess I should get a scrub job for now. I'm just salty about the situation.

@Stupidasole

What sites do you use? I mainly have been using indeed to search. I also get messages from recruiters through indeed or linkedin but so far they haven't turned into jobs. Do you think craigslist jobs are legitimate?

Need_TLC
Need_TLC

be me
loan gf 4k in uni
5 years later
she broke and I rich

What a failed investment in her education

GoogleCat
GoogleCat

@eGremlin
Are you a marxist? This is labor value theory tier retarded

New_Cliche
New_Cliche

@Booteefool
Paying for writing services is a lot shitter than I expected
tried having a uni assignment written for me
pay a couple of hundred dollars for "PhD level American in your field"
get some complete garbage on the day the assignment is due and have to quickly do something myself
manage to get a refund by detailing numerous basic errors and complaining about general shitty quality
I actually spent pages going over all the reasons the work was shit. It helped me channel the anger. I am 95% certain the person who wrote it doesn't poo in loo.

Lunatick
Lunatick

@farquit
I am a hiring manager for a large regional public accounting firm.

If you graduated without a job in public accounting, it's not going to happen for you.

The fact that you aren't motivated to get your license, which is such a basic part of an accountant's career tells me that you wont get hired as an accountant by anyone.

It also tells me that you didnt graduate in the top of your class and are destined for mediocrity.

Have a beer and drink your sorrows away

SomethingNew
SomethingNew

@Emberfire
@TurtleCat
Well I appreciate you posting proof, at least. Nice to see someone who isn't just a fat retard neckbeard coming up with a fantasy.

askme
askme

@Fried_Sushi
sports clubs
Like... gyms? Or do you still play sports in an organized fashion? That sounds fun. I want to know more.

iluvmen
iluvmen

@Lunatick
you didnt graduate in the top of your class

To be fair 99% of grads aren't in "the top of their class" by definition. Yes, I am a lazy fuck, I fully admit to that. I didn't have a job because I decided where I wanted to move only at the last minute. You're pretty judgmental.

basic part

The people who get CPA are a vast minority. That's why it's so valuable, ya mook.

HR dog looking down on anyone

I'd rather live in a tent than work as HR. What a lot of fat gossipy cunts.

idontknow
idontknow

@askme

Yes, organized groups for playing sports. meetup, craigslist, local sports websites. As long as you live in a decently populous area there are a lot.

kizzmybutt
kizzmybutt

@idontknow
What kinda sports do you play?

TreeEater
TreeEater

Bought 11 BTC @ ~$100 each
Price rises to ~$170ish
Blow my load and sell them all
1 month later a BTC is worth over 1k

ZeroReborn
ZeroReborn

@Supergrass
Invested $6000 into xtv only for the company to lose its deal with at&t and the share price plummet to less than a cent

askme
askme

@farquit
expected to take shitty 30k a year jobs and "work your way up" to 60k after 4 or 5 years

This happened to me. Graduated with a BS in STEM and couldn't find anything that was a decent career starter. I wound up joining the military at $50k with automatic promotions every two years. I'm about to promote now and make $62k/yr after taxes and my loans are almost paid off.

I'm not even that mad about the money I spent on uni now. It's the opportunity cost. I could have been stacking cash and just putting it all in the stock market, made mad returns, and I'd have a 6 figure net worth instead of my current negative net worth.

takes2long
takes2long

@Harmless_Venom
Yeah, pretty much this. Biggest scam going.

massdebater
massdebater

@Stupidasole
He was in a ruff mood and its a doggy dog world in business

RumChicken
RumChicken

@New_Cliche
At least you get laid

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