Financial Mistakes

Financial Mistakes 1

Running head: FINANCIAL MISTAKES

Financial Mistakes

Tartcheonia Lester

Bethel University

Financial Mistakes 2

Abstract

I have made many financial mistakes in my adult life. I will talk about the latest one that I have made and the past ones that have lead up to me making the decision that I felt I had to make. I will also talk about what I have learned and what I will do in the future to keep from having to make bad financial decisions in the future.

Financial Mistakes 3

According to Woman's day magazine, the recession has shown how Americans are making poor decisions when it comes to managing their personal finances (Pierce, 2006). I fell into that category of poor money managers long before the recession. I started at a young age being irresponsible with my money. I have filled bankruptcy twice, have had cars financed that I could not afford, and threw money away on unnecessary things, and never saved money.

Recently I purchased a 2004 Nissan Maxima. I had a 2006 Jeep Commander that I was having transmission problems with and was so ready to get out of it because of the problems that I was having out of it. I had gotten it from a" buy here pay here" lot and was having problems out if it since I bought it. I had to keep taking it back because of some type of noise that I kept hearing and was just really fed up with the problems I was having. I got my student loan refund and could not wait to get out of that truck.

I was tired of the "buy her pay here" lots so I went looking on lots that had financing available through special loan companies that dealt with people with bad credit. I wound up at a place called Schaell Motors in Hendersonville and saw a 2004 Nissan Maxima that I absolutely fell in love with ( I had to have it no matter what). They got me financed for this car in a day or so and I wound up giving them most of my refund money from school as a down payment (huge mistake).

I went showing off my new car to my friends and family and was so happy to be rid