First big financial mistake? - Page 2

Getting pregnant with DD#1.  She's a blessing but I wish (financially speaking) we had expected her!

Buying our current home.  Despite putting down a HUGE down payment (about 1/3 of the cost of the house) we are still underwater.  I love the area we live in and I love all the friends I have made here.  But we probably could have found a smaller and less expensive house in this area.  We bought when DH's business was growing by leaps and bounds.  Then the recession hit and DH lost his business.  I love the house but it was a financial mistake.
 

In fifth grade, I wanted a 10-speed bike.  I didn't have enough money to get it and I didn't want to wait for my birthday, which is in the winter and I wouldn't have been able to use it anyway.  I borrowed the money from my dad (it was $119, I still remember).  It took me almost a year of paying him $10 per month.  I decided credit was a bad idea after that!

I am shocked at the people sho said credit card. I got a credit card when I was 18 it had a $700 limit and established enought good credit with just that and some department store cards that I was able to get a brand new car financed in my name ONLY at 22 with a great intrested rate to boot.

 I can't think of one at this time. Maybe buying a house before we were really ready but rent was more than our mortage payment but the other cost got us. Things that needed to be done to the house.

I stopped using the envelop system when I earned enough to not be on a tight budget (or so I thought).

I didn't finish college.

Not knowing enough about how taxes worked. We had one really bad year for us. If I had known that donating $200-$300 would have bumped us into a lower tax bracket and saved us $3000 that would have been fantastic. So I didn't have the money for taxes opened a card and charged it. 

Led to Credit Card debt about $9000

We are currently living above our means and I am trying to put a stop to it. We are in this cycle spend, spend, spend. Get a little extra money (Taxes, overtime, 2nd job kicks in) pay it off. But I am at a point where none of the extra money is in sight and we have accumulated new debt. OK so my washing machine died not really an expected new debt. So this month we pulled out the cash. Hoping that it will help.  

Being penny wise and pound foolish

I would have to say that working at a department store and having a store credit card with a 30% discount was my first mistake!

Mine would have to be getting a credit card in college......and no job to begin with!  Looking back, I was really dumb in thinking the money to pay it off each month would just appear!  Ha!