whats the stupidest thing you've ever bought?
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Based on the most helpful WSO content, a notable example of a foolish purchase is highlighted in a discussion about a teenager in China who sold his kidney to buy an iPhone 4. This extreme case underscores the dangers of conspicuous consumption and the lengths to which some people will go to acquire material possessions, often at great personal cost.
If you're looking for more examples or want to share your own experiences, you might find similar discussions on Wall Street Oasis forums.
Lol
Kidney for a iPhone?? WTF?
RuneScape gold
Peak
Back when the furby craze was big time, I scrounged up all my savings and got my mom’s credit card and bought close to $15k worth of all types of furbies. Needless to say it was not a sound investment. I think they still have them all in storage somewhere because I couldn’t bring myself to just throw them out. Maybe one day this lottery ticket will hit.
this guy's "mentorship" program where be basically guaranteed to get me a spot in IB at one of the Big 5. I believed him because he did BCI PE and Moelis, however was generally unresponsive after payment was delivered.
lol mr farquhar
lol dont let the mods see this haha
Is it the dude who was bragging about how he didn’t take Moelis return because he wanted to do entrepreneurship.
Stumbled upon my LinkedIn feed. 😂
yea what a L person, so fake
engagement ring for my ex wife who cheated on me
Damn, that’s rough. Did you get the ring back at least? Or did she embezzle it?
Fun fact, never propose on a holiday. If the engagement is broken, she can always say the ring was considered a gift and it's difficult to get back.
If you don't propose on a holiday, the ring is considered part of a binding agreement (the marriage) and if that marriage doesn't take place, you legally get the ring back as its your property (I mean, barring she doesn't sell it or throw it in a river.)
Bonus fun fact (my father in law is lawyer so I get these), if your car is ever being towed, just get in the car. If they take you car with you in it, that's considered kidnapping.
Not me, not trying to hate, but the stupidest things I've seen people spend money on:
1. Any type of body modification. Mainly because, if you think that's the one thing holding you back, you probably need to work on other things first.
2. College degree that doesn't have a title out of college. Meaning, if you go for accounting, you come out you're an accountant. If you for liberal arts, what are you when you graduate? A liberal arter?
3. Things people think they need to get them going in a hobby when they really don't enjoy that hobby. Such as, if I buy really expensive golf clubs that will make me want to play golf more, or if they buy a really expensive gym membership that will motivate them. Maybe for some, but usually not for all.
4. Big homes that have space that people rarely use. I know a lot of people say they need a big kitchen/dining room or extra bedroom because they host a holiday maybe once every 4 years, but the other time it goes unused.
With 3 I have seen that a lot. Very common on the golf course for some dude to buy a $400+ driver to replace his little worn $250 driver to hit longer drives. When in reality he should have bought a lesson or two to fix his swing! You really don’t need much to play and good equipment is affordable. Bryson on his YouTube hits kids clubs straight and can make par so it’s not the clubs holding you back.
Also have seen people in Texas waste money on lifted trucks, jeeps, etc. because it’s cool and rugged. But they never off road! You are making big reliability and comfort and convenience sacrifices buying a huge off road or work truck just to use it maybe once a year or two.
Agreed. For the trucking example, it would make more sense to rent something when you want to offroad vs having to take care of it year round.
This will help a lot of Undergrads out there (especially in a COVID-19 context).
In 2014 during my Degree, the biggest financial mistake I made was that I racked up $350 in Public Library fines for a research project. I was super late in returning the books.
If I had known in advance that I needed more time with the books I should have bought them off Amazon. That way they could be re-used/re-cited.
Hope that helps.
Dior sneakers. They were around a thousand bucks. Never spending more than $150 on sneakers again..
I almost did something like that once.
My watches + looking at a 911 Turbo S, completely unnecessary but very fun.
If you enjoy them, they aren’t stupid
My college degree. None of the jobs I've professionally worked in is remotely close to what I learned in school (never applied the knowledge). I would give all my life savings / bank accounts away if I could be a freshman in college again. Different major and likely would have gone to a different school too. Deeply regret not going to a cheap city / state school near NYC and exploring different careers ranging from economics / finance to kinesiology.
I was a STEM major and would probably fail every exam from my intro classes if I tried taking them now ~10 years out of college.
My wife
One time I got really into nice clothes and spent well into 5 figures. Then I gained like 20 lbs lol
A boat that hadn't been in the water in years. It wasn't my biggest loss by a long shot, but it definitely was my dumbest purchase.
Let's just say it still hasn't been in the water since I bought it.
Golf clubs - I suck
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