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Story 181 for Stupid Tax
emotional buying...
Original story submitted by Cyndi
on May 28, 2012
Location:Springfield
Age: 45-55
Gender: female
on May 28, 2012
emotional buying...
My husband is from New Zealand and goes back to see family yearly. My career doesn't allow me to go along...so out of resentment I purchased a new car. If he gets to go to New Zealand = I get a car. VERY STUPID and I even knew better at the time MORE STUPID. Emotions got the best of me...the car is paid but the stupid tax prevails.
8 of 8 found this story helpful.
5.0 out of 5
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Story 182 for Stupid Tax
Lesson Learned!!
Original story submitted by Elouise
on May 27, 2012
Location:Chicago, IL
Age: 18-24
Gender: female
on May 27, 2012
Lesson Learned!!
My stupid tax was miniscule compared to most- here's how it goes: I bought an item from Target but needed to exchange it. Went to return the item, but forgot my receipt. I got some store credit, but it was $2 short due to my lack of receipt. Later that week, I found the original receipt, so I went back to get my $2 back!! Well, for whatever reason, they wouldn't give me the difference. Stupid stupid stupid. Leaving the store grumbling, I considered complaining to management, but then I realized this was MY stupid tax. $2 is next to nothing, but it was the principle that really got me. Lesson learned: BRING YOUR RECEIPTS THE FIRST TIME AROUND.
5 of 9 found this story helpful.
3.5 out of 5
rated 3.5 by 11 people
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Story 183 for Stupid Tax
Do the math first
Original story submitted by Patty
on May 24, 2012
Location:Idaho
Age: over 55
Gender: female
on May 24, 2012
Do the math first
As a young new single mother, I was given the opportunity to buy life insurance for my new baby at a mere $20 per month. The policy would provide $1000 upon her death. I did not do the math. Twenty years later the policy was paid in full. I did the math then and realized I had paid $5000 for the $1000 policy. Last year I cashed out the policy because she is married and did not want the policy. I received $250 on my #5000 policy.
26 of 27 found this story helpful.
4.6 out of 5
rated 4.6 by 12 people
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Story 184 for Stupid Tax
Consequences of not listening to my spouse
Original story submitted by Bigfoot
on May 23, 2012
Location:Pocatello, ID
Age: 35-44
Gender: male
on May 23, 2012
Consequences of not listening to my spouse
Please read story - it's a series of life lessons better not learned the hard way.
Not long ago, I graduated from physical therapy school and decided that "I'm making more money, I deserve a better/bigger house". I had convinced myself that the neighborhood we lived in was too loud, or that I always wanted a real garage and the house didn't have one.
So I searched and found a beautiful house in the woods. The price was much more than our current house, but it was affordable. My wife didn't like the house and suggested it was a poor financial decision. Well, I felt I deserved this reward and I went so far as to tell my wife I would leave her if she didn't let me have it. I promised to renovate the house into something she would like.
So we bought it, and I began renovations. I had some money set aside, but due to many unexpected cost, I ended up borrowing from the bank and both sets of our parents just to make it liveable. So now I owe family money - which has changed family dynamics, I have a $700+ per month bank loan, and I still don't have a garage as I closed it in during the renovation. Now we are in a position where we are trying to move to new town. Sure the house will sell, but we will still be paying everyone back 10s of thousands.
I haven't had time or money to go or do anything for 4 year. I ended up taking a job I hated and couldn't leave because I needed more money. Due to (unnecessary) financial and job stress, I nearly destroyed my relationship with my wife.
Had I listened to my wife I would have been debt free besides the home, and had all the time and money to travel. Perhaps I would have had the freedom to look at other investment opportunities - the one's that require cash.
I hope this story can help at least one person out there. It's not worth buying the Cadillac house, the Cadillac car, or the Cadillac lifestyle if A) It effects your relationships, and B) it cost you your financial freedom. I would rather live in a card board box - ya its that important.
41 of 41 found this story helpful.
4.6 out of 5
rated 4.6 by 28 people
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Story 185 for Stupid Tax
In State Tuition
Original story submitted by Danimal
on May 15, 2012
Location:Germantown, TN
Age: over 55
Gender: male
on May 15, 2012
In State Tuition
Four years ago, my daughter entered Ole Miss at 18 years of age and faced out of state tuition. 356.00 an hour vs. approximately 100.00 per semester hour. Being the smart dad, I purchased a home in Oxford and waited for the second semester to begin. I proudly met with the school bursar to explain her residency and all the money I was going to save. He began to laugh when he looked at me and stated, lots of people have tried this sir, by state law, your daughter cannot establish residency until their 22nd birthday. Stupid tax, on top of tuition, mortgage and expenses for four years, requirement to live in sorority house one year (house sits vancant) and loss of her ability of first time home buyer benefits. Those were very expensive visits for football weekends. Anybody want to buy a home in Oxford Mississippi?
35 of 39 found this story helpful.
3.2 out of 5
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Story 186 for Stupid Tax
Shot myself in the foot
Original story submitted by big spender/little income
on May 12, 2012
Location:Ohio
Age: 35-44
Gender: male
on May 12, 2012
Shot myself in the foot
I have sold a ton of stuff since first hearing about Financal Peace in September. Really, I've sold every major item I can sell except two things. I came to Dave's site hoping to figure out if I should sell a couple fire arms at a loss. I paid retail price for both and have quickly learned that they are worth less than retail when I try to sell them. I still have a small vehicle loan and a huge student loan to pay off. I wish I had known Dave a long time ago - before I used my money to buy toys that didn't hold their value instead of paying down my debt.
It seems, as I read these stupid tax stories, that I have one of my own.
And now that yard sale season is here, the non-major items will be sold soon.
7 of 10 found this story helpful.
2.4 out of 5
rated 2.4 by 10 people
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Story 187 for Stupid Tax
Door prize disaster
Original story submitted by Robbie
on May 8, 2012
Location:Nashville, TN
Age: over 55
Gender: female
on May 8, 2012
Door prize disaster
I had just gotten my first apartment and knew nothing about money or gimmicks. I graduated top of my college class without any money smarts. A local shopping warehouse was offering a free set of steak knives for attending an informational meeting. Mind you I had a one bedroom apartment and was making $5.32 an hour. I went to the seminar, got the knives, and bought a membership for $500! I couldn't afford to buy anything, anywhere, after that. And the knives didn't even cut all that well. Learned my lesson-paid the stupid tax!
9 of 10 found this story helpful.
4.3 out of 5
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Story 188 for Stupid Tax
Lost the amp, the ring, and the girl
Original story submitted by Debt-free Rocker
on May 8, 2012
Location:Colorado
Age: 35-44
Gender: male
on May 8, 2012
Lost the amp, the ring, and the girl
Too many of us musicians and artist-types have used a credit card to buy a guitar. Or an amp. Or groceries. And too many of us have been burned.
Case in point: I was once foolish enough to buy a guitar amp with a credit card. (I get extra bonus stupid points for doing this at a pawn shop.) Of course I couldn’t afford to buy the amp. (Roland Jazz Chorus 77. Mint.) I was a starving college student. I was also 19 or 20 years old, and I’d recently received five or six credit card applications in the mail. I thought this was FREE MONEY! Being young and ignorant, I responded accordingly, applying for every card I could get my hands on. And every card I received felt like a blessing.
How wrong can a guy possibly be?
Anyway, back to the amp… after taking it home, playing it for a few months, and using it to earn a grand total of exactly $0.00, I decided I was in love with a woman. I took the amp back to the same pawn shop and hocked it for a diamond ring.
Two months later, when the relationship ended and I took the ring back to the same pawn shop, they were happy to buy it back from me. For 50% of what I’d paid for it.
They still had the amp, and I wanted it back. But I didn’t have the full amount. And guess what… they only would accept the minimum $15 payment OR the full amount. After a few months of minimum payments, I realized I would never get the amp back.
So, in conclusion, I lost the amp. I lost the ring. I lost the girl. But I got to KEEP all of the credit card debt!
That’s how this game works.
So here’s my rant. Using credit cards = being in debt. For life. It means sending part of every paycheck to a credit card company. It means living life in debt.
In contrast, being DEBT FREE = walking down the street with a smile. It means not worrying about how the bills are going to get paid. It means abundance, wealth, joy, and the ability to GIVE.
I lived all of my adult life (from age 19 to age 41) in debt. Then I woke up, paid off all of my debt, CUT UP ALL OF MY CREDIT CARDS and closed every credit card account, built up an EMERGENCY FUND of six months worth of expenses, and now my wife and I are saving for a house. (Say it with me: We won’t even THINK about signing a contract until we have at least 20% down, and the terms will be a 15 year fixed mortgage with monthly payments that equal no more than 25% of total income. Until then, we wait, we work, we save, we stay in GRATITUDE for all of the abundance in our lives.)
(NOTE: My wife and I both work for non-profit agencies. It took us almost two years of constant effort to get ‘debt free’. It was NOT the overnight cure that I’d hoped for. Much to my surprise, I’m finding that nothing worthwhile in my life IS a quick fix.)
What’s happening today?
When I get my paycheck each month, I don’t worry about “minimum payments” or “late payments” or “missed payments” to any credit card company. I laugh all the way to the bank. When I want to rent a car or buy an airline ticket, I use my DEBIT CARD. (If a company doesn’t accept my debit card, I don’t USE that company.) I like to pay CASH for things. I don’t owe anyone ANYTHING. Especially not a credit card company.
And with all of the energy and passion that is freed up by releasing debt-related fears and worries, I have more energy for my music, for communing with nature, for connecting with my colleagues, family, friends, and loved ones. My life is simply fuller, richer, and more delicious than ever before!
62 of 63 found this story helpful.
4.9 out of 5
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Story 189 for Stupid Tax
Airfare lesson learned
Original story submitted by Dana
on May 3, 2012
Location:Nashville, TN
on May 3, 2012
Airfare lesson learned
I recently purchased airfare online for a quick trip from Nashville to Tampa. When I first started looking early in the week, I was happy to see the cost of only $149 each way. Waiting on others to make their final plans on when the trip would be, I didn't yet buy the tickets. As the week went on and I checked on the prices, the cost for each way had gone up by $15, so $30 more total. When I was ready to make my purchase on Sunday night, the cost for the way down had gone up another $70. Mistakenly, I thought increased prices meant tickets were selling out. I found out from a friend a couple of days later that many times the prices are inflated over weekend days. Sure enough, I got online again (on a Tuesday) and the prices were back down to only $149 each way. I can't believe I never knew this! So, this $100 lesson has taught me to buy airline tickets during the week!
39 of 41 found this story helpful.
3.8 out of 5
rated 3.8 by 14 people
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Story 190 for Stupid Tax
Expensive bicycles
Original story submitted by Josh
on May 3, 2012
Location:RTP, NC
Age: 25-34
Gender: male
on May 3, 2012
Expensive bicycles
My wife and I decided it would be a good idea to buy a couple of bikes. Unfortunately, the first time I rode the bike, I found out that I didn't like it. A year later, the bikes have been sitting on our porch, unused. We managed to sell them for half of what we bought them for. I recommend test driving or renting something like this before purchasing. Could save you a few hundred dollars to figure out whether or not you like something!
5 of 6 found this story helpful.
3.7 out of 5
rated 3.7 by 10 people
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