People make bad purchases all the time. Unfortunately, a purchase you think is a good idea can turn into a bad one rather quickly.
#10 is a mistake I’ve personally made. I went into the purchase thinking it was going to be one of the greatest investments of my life and it didn’t even work!
Learn from these 23 people below and don’t make the same mistakes they did.
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1. Amazon Niche Site – $4,200
I purchased an Amazon niche site from Flippa.com once that turned out to be a fraud (I lost $4200) the traffic went to zero when they turned off the PBN that was used to inflate the site in the google rankings. Whoops! – Russel from Unconventional Prosperity
2. Prom Dress – $650
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3. Wedding dress
My biggest purchase regret would be my wedding dress! Being the frugal girl that I am, I was determined to buy a budget bridal gown. I mean, it’s a dress you wear for only one day. I got caught up in all the wedding bliss. I splurged and spent WAY too much intending to sell it after the wedding.
Unfortunately, people stepped all over it during my reception, and now it is ruined! It is hanging in my closet, taking up space. My advice to any bride is to rent your wedding dress and stick to your budget. You will have less money stress after the wedding. – Sarah from iheartfrugal
4. Online Course – $2,200
I regret buying an online course that was supposed to help me improve my mindset and create wealth. That was several years back. The seller is a well-known property investor. Sadly, it didn’t help at all and merely made the seller richer instead. – Jo from More Money Tips
5. Blower Motor Replacement – $500
One purchase, which I fooled myself twice into making, was a blower motor replacement for my furnace. Instead of replacing the entire unit, as it was near the end of its lifespan, I spent close to $500 twice trying to fix it. Each “fix” lasted a year, and I eventually had to replace the entire furnace. In hindsight, should have gone with the replacement upfront and avoided the stress and cost of the repairs. – R.J. from The Ways To Wealth
6. Smoothies – $2,160
One $5 smoothie is no big deal. But a few $5 smoothies/week over three years? That’s a lot of money I could’ve kept in my bank account, which is why Smoothies are my big purchase regret. – Nikayla from The Budgeting Couple
A timeshare. Although I got several trips to Hawaii out of it overall factoring the yearly maintenance fees, membership fees, and cost to acquire was a horrible investment.
Fortunately, I purchased at a highly desired location, so I was able to sell it at for 1/3 what I paid so not a total loss. My advice would be NEVER get sucked into the trap. – Shaun from Debt To Zero
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8. Stereo System – $1,000
9. Season Tickets – 15% of my income
10. MiraDry – $2,000
Last year, I got a crazy expensive surgery that cost $2,000 to reduce my armpit sweating. The procedure was by far the most painful thing I’ve ever experienced in my life, and it does not even compare to the pain from tattoos or piercings I have all over my body. It didn’t even work, which is the worst part and the doctor who performed who it had a terrible bedside manner. The medical office has 5-star reviews, which is the worst part of it all. – Alexis from FITnancials
11. Highlighting hair – $150
I was looking to change things up a bit so on a whim got my hair highlighted. It cost something like $150, and I hated it., Then I had to spend MORE money to get back to my natural hair. I vowed that day that if I ever need a pick me up, I will buy a fabulous pair of shoes or take myself to the spa. – Rae from Small Space Big Taste
12. Shoes – $700
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13. Beater car
I used to drive a sports car, and it was my baby. I also mountain biked and couldn’t fit the bike in the car. I couldn’t accept putting a bike rack on the vehicle and risk denting or scratching it, so I bought another car.
14. Travel wear – $140
15. Furniture – $800
16. Kota – $89
A few years back, my daughter was completely obsessed with a giant dinosaur toy called Kota. The only catch was the whopping $299 price tag. Even though my daughter was jumping all over the display model and desperately wanted it, there was no way we were going to spend that kind of money.
Flash forward a few weeks and with Christmas closing in fast, the price on Kota was slashed down to $89. It was a huge hit! For a couple of days. Then the kids got tired of it, and Kota became an expensive waste of space. We ended up selling Kota at a yard sale for twenty bucks. – Mike from Budget Kitty
17. Unnecessary purchases
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18. Coffee Pods
Coffee pod machines and cheap kitchen knives are a huge waste of money. That’s because pods cost a fortune compared to freshly ground coffee (not to mention the taste is often bland) and cheap knives tend to lose their sharpness sooner than expected. – Kiki
19. Table-top ice maker – $79
20. Custom Embroidery Franchise Business
A custom embroidery franchise business…and then the franchisor filed for bankruptcy protection. By the time the courts sorted it out, my energy was zapped and fortunately found a buyer (after a few more years). – Gwyn from Cabins or Castles
21. Shoes – $80
The bad thing about this obsession is that I spend a lot of money on them, but I never wear them. So it’s like I regret it because that was like $60-80 I could have used somewhere else for something else, but instead, I spent it on heels just for them to sit in my closets and never be worn. – Kimora from Kimora Chanel
Tip: Springboard America pays people to answer surveys with their honest opinion. Surveyors can make $3 per survey.
23. New car
24. Washer and dryer – $1,752
I bought the appliances with a warranty and have bought all my appliances for my home at that same establishment. Every single new appliance I’ve bought at that place has broken in one way or another over time.
I’m glad to have the warranty’s on them, but it’s just this vicious cycle: it breaks, they give me store credit so I have to repurchase from them and pay a couple hundred over the price of the credit to get a new appliance, get it home, in a year, year and a half, it breaks. The same thing over and over with all the appliances. I want so badly to stop going through them, but they only give store credit so I can’t just take my business elsewhere. I regret ever buying appliances from that company! – Sarah from Sarah Titus
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