Being 19 years old. I got compensated well over $2,000 dollars by Social Security for stolen checks that were supposed to go be going to me during my highschool years.
Of course-that amount really showed the ugly side of money as everyone around me changed, starting with my grandmother whom instantly asked for half.
Wasn’t long before every dollar went to video games, computer accessories, and anything BUT investment or a savings account.
I finally spent my last $150 on an animation table. One of two of the ONLY sensible purchases of that season.
I haven’t been able to work myself back up to that amount of money since.
Submitted by: AJ
I have e-mailed the author of this story to find out if all of the excess money went to family (especially with the mention of video games), or if some of it was spent by him as well. I have not heard back yet, so for now I am assuming both.
It is unfortunate what money can do to family. I’ve seen arguments about money within my own family, and it turns good people into bad people very quickly and ruins relationships.
If I were ever to inherit a sum of money, I would have to be very point blank about my intentions with that money. That’s not to say I wouldn’t help out someone that was in genuine need, but I would not be giving money away to anyone just for the heck of it. I’d have to be stern and put my foot down about it, and if doing that cost me relationships with people, then they aren’t the type of people I’d want relationships with.
As far as additional expenditures rather than savings, well obviously spending carelessly is never a good idea. It’s perfectly acceptable to buy something for yourself, but be reasonable about it and put the rest away for the future or pay down debt. My guideline for spending excess money would be by thirds. Put a third away into savings, spend a third, and invest a third into something for the future (or pay down debt).
Amount Flushed Down the Money Drain: $1,850