Scams, rip offs & stupid mistakes - Share yours so we can all learn

[JRmom]

And if your husband and his mortgage broker buddy suggest a home equity loan, just get out the baseball bat

Our friends took out a home equity loan to finance a vacation home ????? (looking for an "idiot" smilie)

 

[Wifezilla]

 

[kimlove2]

Learned this from others, not personal experience... NEVER EVER borrow money against the house you are living in for something that you don't need/can't afford! i.e. bass boat, vacation, motorcycle,newer car, truck,etc. Many folks around here are now 'homeless' as in have to move back with Mom & Dad, because of such stupidity!

 

[Boogity]

Never allow your offspring to live at home past 20 yrs. old.

 

[DianeS]

When buying something that has a "no questions asked" free replacement warranty, ask up front if that means you can have the item replaced if your dog chews up the original.

I could drop it in the toilet - they'd replace it. I could run over it with the car - they'd replace it. I could swing it by the cord and the cord ripped - they'd replace it. It could be stolen - they'd replace it.

But NOT if the dog chews it - which is the only reason I'd want the warranty anyway! So be sure to ask.

 

[erthymom2]

Never allow your offspring to live at home past 20 yrs. old.

Funny to see this one...I just had this discussion with my oldest son. Told him he's been out of HS long enough to adjust to being a big boy and he has until September to get up & get out on his own. He looked quite stricken - he's a good son but needs to "man up" and move on. His younger brother looked at me and said calmly "Ma, I still have two more years, right?" with fear in his eyes !! LOL Yup I said, but learn ,save, and plan oh little one. }

 

[Boogity]

When buying something that has a "no questions asked" free replacement warranty, ask up front if that means you can have the item replaced if your dog chews up the original.

I could drop it in the toilet - they'd replace it. I could run over it with the car - they'd replace it. I could swing it by the cord and the cord ripped - they'd replace it. It could be stolen - they'd replace it.

But NOT if the dog chews it - which is the only reason I'd want the warranty anyway! So be sure to ask.

I just saw a commercial tonight for car insurance that focused on guarantees. The pitchman said something that got me to thinking (Me thinking? Hmmm, rare occasion). He said to ask your insurance company about a satisfaction guarantee. If you are not satisfied with your policy and the service you receive you should get your money back. Wow! What a concept. I would have to see it to believe it.

 

[raro]

From my brother:
Don't trust a psychic...why is it that psychics never win the lottery?

 

[freemotion]

Never allow your offspring to live at home past 20 yrs. old.

Me and my sibs had to pay 25% of every paycheck to my parents as rent from the time we were picking potatoes for the neighboring farmers at 12-14 years old. Boy, did we hate that....thought it was so mean and unfair! Got us out of the house pretty quickly, though and then we realized that it was pretty cheap.

I'd up it to 75% for anyone 20 and over. Or a flat fee that includes food and anything else that they would pay for from any other living situation. AND a list of their share of chores.....no one vacuums for you in an apartment. I'd also charge an extra fee if it wasn't done on time or to my satisfaction. You gotta make it uncomfortable for them to stay.

 

[rileysgranny]

Never co-sign on a loan, even if it's your own child!

Never loan a vehicle to someone. Years ago we had a neighbor who worked nights. His only car broke down and he claimed he couldn't get to the job he really needed to keep. My now ex was so sweet to loan him MY car that I owed one more payment on of $109. Neighbor didn't go to work, but to a bar, where he promptly got drunk, got on the wrong side of the interstate and had a head on collision with a guy on a motorcycle! Car was totaled, motorcycle driver was hospitalized for weeks. Because the car was in my name I got sued for $1.5 million in damages and was out an almost paid for car. Sweet neighbor said if we hadn't loaned him the car it would never have happened!!!!