Comments on: The DUMBEST (Financial) Move I’ve Ever Made

By: Lakita (PFJourney)

Lakita (PFJourney) — Fri, 05 Feb 2010 20:14:02 +0000

All,
I've posted the 2nd DUMBEST Financial Move I've ever Made on my new website
http://personalfinancejourney.com
Check it out!
Lakita

By: Lakita

Lakita — Fri, 05 Feb 2010 20:12:45 +0000

Rohzan,
Thanks for sharing your story as well! I'm glad it all worked out for you with the help of the Lord, and more importantly, you learned from your mistake. Blessings!
Lakita

By: rohzan

rohzan — Fri, 05 Feb 2010 18:10:48 +0000

Thanks for sharing.
A couple years ago my husband and i were looking for ways to make money. So we followed the advice of a fellow co-worker and invested in a product which was apart of a pyramid scheme. Long story short, we had to end up giving away most of the product and to this day we have not sold 1 nor were we able to get back the money we spent on it. It caused a serious financial dent in our pockets because not too long after that my husband lost his job. It was a strain but God really came through for us. We learnt what it meant to have little to almost nothing. We promised never to make such silly mistakes again nor make financial moves without consulting the Lord

By: Lakita

Lakita — Tue, 17 Nov 2009 20:21:59 +0000

@FruitfulVine2: Amen! If someone can avoid the same mishap then it was worth sharing!
@Rekesha: Thank you for sharing that! It is so relevant as many readers are event organizers! We MUST count the cost.
@Steve: And thank you for sharing your story! I checked your website….from your banner with the Gateway Arch I thought you were a St. Louis neighbor! Either way, your site looks interesting and I'll add it to my reader.

By: Carnival of Money Stories #28

Carnival of Money Stories #28 — Tue, 17 Nov 2009 00:37:02 +0000

[...] Humber shares what she believes is The DUMBEST (Financial) Move I’ve Ever Made posted at Paneh Praise Dance Ministry & Mime [...]

By: 28th Carnival of Money Stories II – Winter in Arizona Edition | Out of Debt Again

Mon, 16 Nov 2009 11:14:57 +0000

[...] Humber shares what she believes is The DUMBEST (Financial) Move I’ve Ever Made posted at Paneh Praise Dance Ministry & Mime Ministry. Buying a new car and then getting into [...]

By: Steve Johnson

Steve Johnson — Fri, 13 Nov 2009 19:37:08 +0000

Too bad about your accident. That really makes you re-think your purchase. It's very easy to get caught up in the consumerism that plagues the world.
I too have made bad mistakes with money. Leased a new car ten years ago, then ended up buying it after the lease. The money spent on that car was way more than what the sticker price was. Fortunately, I am still driving that car today. However, that was just one lesson in car purchasing.
The next mistake was when my wife and I bought our first car as a couple. We intended to buy a used car and found ourselves driving away with a brand new 2005 Honda Civic. We ended up selling as we needed money for a house and baby.
Just recently my wife and I bought a used car to replace the second car we once had. We paid with cash. No car payment. We even negotiated the price down. We now own two cars. It is a good feeling not to have a car payment anymore.
The wife and I actually agreed never to borrow money again.
Thanks for sharing your story.

By: Rekesha Pittman

Rekesha Pittman — Fri, 13 Nov 2009 06:21:22 +0000

Hmmm… I've made several, but the worst is planning a major dance conference without understanding the total cost until it was too late to turn away!
Long story short: I hired a conference manager (who I paid monthly) to manage a large conference since I was busy serving other ministries. I had hoted several dance conferences in the church setting for several years. Since I had never done a hotel conference, I wanted an "expert" to help me navigate and not get burned, or so I thought… I signed a contract, put down a deposit, and opened registration!
Months passed by and finally the hotel called me 2 weeks before the conference teling me that I owed them $23,500! I was floored! After I got up off of the floor, I realized that there was a $25,000 food and beverage minimum that had to be met (ummm- was that the small print?). Less than 30 days away, I needed a miracle, and bad!
After MUCH prayer and wise counse, the Lord granted me favor with the hotel, and the bill was reduced to $15,000 (room rental and sleeping rooms). That amount was better than $25,000, but we must also consider that I paid for several flights, contracted honorariums and love offerings! We walk by faith, but we MUST use wisdom.
In the end, we were able to pay the hotel and several speakers, but the experience almost cost me my ministry, my reputation, and my health! I am grateful that the Lord delivered me, but I also learned to count the cost before building. I have hosted another conference since then and was able to accurately assess the costs and take care of all agreed responsibilities. What a blessing!
I encourage anyone making financial moves to do your homework! We can have a vision, but must understand that it takes provision. Even if our intentions are pure, ignorance is not bliss. Pray to the Lord for wisdom and understanding that it might be well with you.

By: Fruitfulvine2

Fruitfulvine2 — Thu, 12 Nov 2009 02:55:17 +0000

At least you've learned the lesson and can help others avoid the same mishap. Our experiences whether they are of our own making or not can be used by God to help others.