More Money Moves We Regret From AARP
BOSTON (CBS) - I don't know anyone who doesn't have at least one money regret. And some individuals many more. So why not learn from other people's mistakes? That was advice my mother used to give me!
More Money Moves We Regret From AARP
We'll continue with some of the money regrets from the AARP article, 10 Common Spending Regrets.
Weddings are expensive with the average wedding costing more than $28,000. Often times regret sets in after the wedding or honeymoon when the couple begins to think beyond their wedding day. The credit card bills come due or they want to buy a house and those dollars spent on the perfect day are all gone.
And if you are newly single after a divorce you definitely regret all of that money spent on a day!
And what about that gym membership or treadmill you bought to get in shape for the wedding? An estimated 60% or more of gym memberships go unused after an initial visit or two. Make sure you can get out of any membership deal you enter into.
Extended Warranties are often not worth the paper they are written on. Some cost as much as the item you are purchasing. You still get the manufacturer's warranty that will protect against defects. And if you buy it from a reputable dealer they will take it back if it's defective.
Buying trendy clothes or accessories. Remember those plaid pants in the back of the closet. I really doubt they will be back in style. You are far better off buying classic stuff which will last longer. Or really cheap trendy stuff so you can give it way next season when it's out of style.
And those Get-Rich-Quick schemes are advertised everywhere. They sound so perfect. Especially if you are feeling down on your luck. Those expensive audio courses on buying real estate with no money down are a prime example. Avoid them. The only ones making money quickly are the creators of the product. If it sounds too good to be true it is!
Money Conference Alert!!
On October 11th I will be the key note speaker at The Money Conference which is a FREE one-day event presented by The Office of Massachusetts State Treasury. It will be held at UMASS Boston and the first 500 registrants will get a free copy of my newest book, Money, Your Personal Finance Guide.
There will be afternoon classes on everything from budgeting to buying a house. The Financial Planning Association of Boston will have volunteer financial planners there to help answer questions. You can set up a meeting with a Money Mentor when you register. If you have questions about the conference, contact Sheila O'Loughlin of the State Treasury at (617) 367-6900 ext 615.
