“Took a loan for a wedding”: 8 terrible financial decisions from Reddit users

Reddit has a new interesting thread. In it, users were asked to talk about the worst financial decisions that their friends and relatives made. 8 bright examples were chosen.

1. “I have friends who took out a loan for a wedding, but instead squandered everything in the casino. Now they owe the bank $20,000 and are left without a memorable day.” armbar222.

2. “A guy from my university received $30,000 (I don’t know why, but it seems after the death of a relative) and bet everything on the victory of the New York Yankees baseball team. They lost the match." bulbipicg.

3. “My maternal grandmother bought an 8-unit house to avoid paying taxes on the profits from the sale of her old big house. The house was in poor condition and needed major repairs. My grandmother hired my father to do some of the work and oversee the rest. The house began to generate income. My mom (she and dad divorced) got mad about this purchase and because my grandma hired my dad, but had to shut up because it was lucrative. But my grandmother was already over 90 years old, and in a few years my mother still persuaded her to sell the house. Right now, housing prices are insane in that area, and this house is worth millions. And my mother made this unfortunate decision simply out of anger at her ex-husband, ”

4. “I had such a colleague at the University of Southern California. Children of employees are guaranteed free education if the parent has worked for 15 years (even if he has already quit at the time of admission). He worked for 14.5 years and left for another job, where he receives a little more. He simply deprived his five children of a free education at a top university because he did not want to wait another six months, ” theangryburrito.

5. “An acquaintance transferred all the assets to his girlfriend in order to fool the tax. The girl sold his businesses, withdrew all the money from the accounts and ran away, ” Raven Bear2005.

6. “I have seen people turn down pay raises because they don’t understand how taxes work.” grifterm.

7. “A man of retirement age took all the money set aside for old age and opened a pet store. Worst of all, he made the store a family business, and internal disagreements and squabbles led to the fact that after five years he lost the store, ” Suitable Plankton.

8. “Applied for a $5,000 loan, it wasn’t processed fast enough, so he applied for another $5,000 loan. In the end, both were approved and he spent everything on gambling. Now he has a debt of 10 thousand dollars, ”- OK-Implement-4933.