Maybe spending all that money in my 20s was a good thing

15 thoughts on “Maybe spending all that money in my 20s was a good thing”

  1. I tend to agree with you. I don’t regret spending money when I was straight out of college. I righted the ship pretty early (by the time I was 26). So maybe I spent to much money on trips with the boys and bars, oh well, life goes on. I’m a glass half full kind of guy 🙂

    1. Hey Fervent,

      Yup, looks like we’re definitely on the same page. The key is to learn from our mistakes so we don’t repeat them. You’ve definitely done that.

      Glass half full for sure! 🙂

  2. In a similar fashion, I made a terrible investment choice about 3 years ago. This motivated me to look for much better investments and understand taxes, stocks, etc… better than my former self.

    My mistake cost me $15000, but today I’m probably better off than if I hadn’t made the mistake.

    Learning through error is extremely powerful, I think

    1. Hey Stockbeard,

      Costly mistake, but like you said, you’re making the best of it now and it might have better prepared you for the rest of your life. Definitely interesting how things like that can happen, especially if you look at things with a positive lens, which you certainly do.

      Thanks for stopping by.

  3. I really enjoyed reading this! My husband and I did the same thing! It’s too bad we can’t go back in time knowing what we know now. We would have already become millionaires! The important thing is that we learned from our mistakes and are now investing every dollar we earn. We keep everything small…our house, cars, and keep our stuff to a minimum. Great post!

    1. Hi Jen,

      I agree that learning from your mistakes is so very important, and is the only thing standing between us and essentially making those very mistakes all over again.

      Congrats for keeping things small. Life becomes much more simpler, that way, eh? 🙂

      Thanks for reading.

  4. Funny that we wrote similar posts on the same day! We’ve actually wondered, if we were just frugal now and hadn’t had a baller phase, would we always wonder if spending more would make us happy? Maybe it’s a dumb question, but grass is always greener, right? Like you, we’re happy that we know the answer because we’ve lived it. And while we love some of the memories from the salad days, we don’t need to repeat them.

    1. Great minds think alike! Agreed that while the memories of some of all this spending are sweet, there really isn’t any reason to do that again. It all provided temporary happiness, at best. Thankfully, it is all out of my system, and now we can focus solely on quitting the rat race as soon as humanly possible. 🙂

  5. I definitely agree that some people really need to have that experience of overspending and reevaluating in order to put their future in perspective. I’m glad my husband and I never got really crazy with our expenditures, but if that method leads others down the path to financial frugality then more power to them! It’s also something to think about and discuss once you have kids who are trying to find their way with money (the spender vs saver and how you react to their decisions).

    1. It sure is interesting how that all works…that making mistakes like overspending often turns into one of the best ways to put everything into perspective. While it’s true that you don’t want to get TOO FAR off the deep end before you finally learn. But once you do, the rest of your life instantly becomes that much easier!

      Thanks for reading. 🙂

  6. Yes, most of us have all made some really bad financial mistakes. In our own case, we had to flounder financially for decades before we learned, internalized, and acted on our financial lessons. Crying in our beer about what might have been won’t help us now, but planning for our future now will yield incredible results down the road. Our financial overall has also helped improve our day-to-day lives as well since we now have a sense of financial control in our lives. It’s funny how planning for the future can lead to improved living in the present. My wife and I are very thankful that we eventually “saw the light” and took charge of our finances.

    1. Hi Ed!

      Congrats on taking charge of your finances – too few do that, and far too many suffer the long term consequences of it if not corrected. It all comes down to the ability to admit your mistakes and learn from them, and it looks like you have done just that.

      Well done, and keep fighting the good financial fight.

  7. Our 20s are such a critical time to learn about money, and it’s crazy how we don’t think about the mistakes as we’re actually making them. I’ve personally found my 20s to be a cornerstone in learning about money, THROUGH mistakes. The only part that sucks, though, is you have to rebound in your 30s once you learn. Nice post Steve -thanks for sharing 😀

  8. Steve, another great post! This describes our old selves to a T. I’m glad we have turned around our ways and are heading down a path of sensible spending to an early retirement, but look at our past as a learning experience. It wasn’t all bad, though… we have a lot of outdoor gear to show for it!

    P.S. – Thanks for the mention the other day!

    -Mr. Retire by 35

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