I think most of us have made some along the way...learning from the mistakes of others can be helpful I think. I wish that they taught some basic finance stuff to kids in school... I have a teen on the cusp of adulthood and find myself having some good talks with her about what interest rates are, saving money, credit cards, etc and alot of our conversations have to do with the mistakes we have made. To start off my confession I will start with a little history...I was an imancipated minor at the age of 16 and out on my own so to speak at an early age. Had checking account and credit cards when I was 16. And no one ever told me or taught me how to manage these things properly. So my financial mistakes are: writting bad checks and getting caught up in the bank fees and not being able to pay my bills so writting another bad check and going through a vicious cycle of not having enough money to pay my bills because I was hit with high bank fees. Not paying on my credit cards...yeah no one ever told me you had to pay those back. I used them like it was free money! Doing payday loans...its another vicious cycle of borrowing money at what should be an illegal amount of high interest to pay your bills, you get paid and they depost your check, then you find that because of the fees you don't have the money again to pay your bills or buy groceries and so you need another payday loan. Doing Rent-to-own...high interest rate end up with a small manageable monthy payment but when all is said and done you end up paying 3-4 times the value of the items worth. Could have bought a used TV and saved gobs of money. Not smart on our part. Wanting to fit in with the "Joneses" and get a nice car for once after years of driving old beaters. Ended up financing a used mini van (it was nice) at 19% interest. Then DH put every extra warrenty they offered him (interior warrenty, exterior warrenty, paint warrenty, fabric protection,...you name it he said OK to it while the only one that was worth it for us was the extended engine/transmission warrenty cause we needed the tranny replaced 2 times). Our monthly payments were more than our rent...and when DH was injured at work and not working...it was repoed (best thing that happened when all was said and done) but it hurt our credit. Not saving...we were always stuck in this rut of not having enough money to pay the bills (due to bank fees or high interest rates on car/payday loans) if we had been smarter that money could have been saved. We are just now at the first time in our lives where we are paying ourselves first and saving money. Lessons learned for us. Don't spend money you don't have. We now save money for the things we want. DH and I looked at a used SUV yesterday, and it was a good deal, he wanted to go to the bank and get a loan and I said no-way Jose...we will get a new car when our tax return comes and use that with some of our savings and just pay cash. If the car is still for sale (doubt it) it was meant to be...if not it was not meant to be for us. We are still working dilligently on fixing our credit and saving money to get to the goals we have for our family. And I feel we are no longer making the same mistakes. We dont have any credit cards...but will soon I am sure and we will need to develop new skills on how to manage that. So what mistakes have you made along the way?