Poor Financial Decisions

What do you guys think is the most common horrible financial decision?

I'm gonna say it's buying a new car. So many people I know have chained themselves to a car they can't afford, and that will never increase in value

University.

I wouldn't here if I didn't have a scholarship. Not having student debt will put me head and shoulders above all of my future colleagues, and that doesn't even count the businesses I run.

Not getting married, my wealth just keep piling up without much spending

I agree m80. A "good" car, good in this case defined as reliable cheap transportation, can be had pretty cheaply.

>buy shitty 2002 pic related for £2200 in 2011
>completely gutless piece of shit
>haul a load of building materials in it
>never skips a beat, only ever replace normal consumable parts
>non-common-rail, non-turbo diesel engine that will last forever: the car will likely rust out before the engine fails
>if/when it dies, I'll get another

meanwhile

>buy a swanky modern diesel car
>"thats the DMF fucked: £1000 please"
>"thats the turbo fucked: £1000 please"
>"thats the DCI injectors fucked: £400 each please"
>"thats the DPF clogged: £1000 please"

Fuck modern cars

I love my child but it is expensive..

Idk, I think it depends on the Uni and the degree. Obviously something like a degree in music theory is pointless, but some are profitable. I'm on the pre-med track, so the debt is unavoidable for me

Why do you idiots always classify cars as financial investments?

A car is a tool; a consumer product you use to transport yourself. And not everyone wants to spend hours a day in some dilapitated shitbox with cumstains on the seat.

It's a not a fucking investment, never was intended to be

Dude, anything you spend time or money on, is an investment. You invest money into a gaming console to entertain yourself, you invest time into a job to get money. I'm not saying don't get a car, they're a necessity for a lot of people.

I'm just saying, getting a new car isn't a smart move for a lot of people. If you can honestly afford a new car, then buy it, there's nothing wrong with buying something you can afford for your foreseeable future. But the problem is that a lot of people can't afford the cars they own

When are you virgins gonna learn that nice cars are a social investment?

Let's say you're a real estate broker. You're more likely to be able to manipulate customers in your favor and make more money if they see you drive a 2017 Mercedes than a 1999 Camry.

Buying a brand new car is overkill and a complete waste of money though. A 2012 Lexus will still be seen as a new luxury car by society but it's affordable, reliable and doesn't depreciate much.

If you can afford it, then there is nothing wrong with buying whatever kind of car you want. The only problem is, a lot of people are trying to buy cars and other products they can't afford, to acquire social capital that is short lived at best