What’s the dumbest thing you’ve seen someone do with money?
For many people, the answer comes quickly: buy things they can’t afford, waste windfalls, make interesting investments, or improve their lifestyle before their income can support it. Stories of million-dollar waterfront homes, luxury cars with long-term loans, payday advances, and ruined inheritances point to the same pattern of emotions first, math later.
That was the tone of a recent discussion on Reddit’s r/DaveRamsey forum, where users shared real-life examples of financial decisions that left them shaking their heads.
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One sign described a family member who had been renting an oceanfront home for between $3,000 and $3,500 a month. When the owner decided to sell it, the family member bought it for $1 million. The new mortgage? About $7,000 a month.
“I really like the house and my mother likes this house, I like the water and moving around is a hassle,” would have been his reasoning.
Cars were a recurring theme. One person described a friend who was upside down on a truck loan and “fixed it” by buying a new truck and transferring the old debt to the new loan. Another mentioned people financing $50,000 worth of vehicles for 72 months or more while earning less than $100,000 a year.
“I can’t afford a truck, so I bought a new one to solve the problem,” one commenter summarized what they were told.
Boats, timeshares and luxury SUVs also make the list.
Inheritances and settlements did not fare much better.
One commenter said a family member wasted $117,000 of life insurance money in less than a year on tattoos and jewelry. Another shared the story of someone who spent $223,000 selling a home in just 13 months and ended up homeless.
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Another person wrote about a $1 million inheritance that was not used to pay off the debt. Instead, it went toward new vehicles, watches and travel.
“Windwinds are not for squandering, but for getting ahead in the game,” one commenter wrote.
Lottery and casino prizes followed a similar pattern. One person saw a co-worker win $1,200 on a casino machine and lose it shortly after because “she likes gambling.” Another said an ex-husband blew a $5,000 profit in two days.
Several stories focused on investment mistakes.
“Buy SPAC stock,” said one commenter, referring to a special purpose acquisition company, which is a publicly traded shell company created to merge with a private company and take it public. “I did that and it was $0.”
Cryptocurrency, NFT, and options trading emerged repeatedly. One person described a friend who refinanced a rental property to day trade using “his phone and Robinhood.” It didn’t end well.
Even mobile games make the list. One person said their ex spent $1,500 on Candy Crush. “I told him that if he took the money and set it on fire, at least we would have the ashes,” they said.
Another admitted spending hundreds during a stressful hospital stay, later calling it a wake-up moment.
Food delivery apps were another target. One commenter compared a $35 DoorDash order to a $15 pickup at the same restaurant and called the profit margin “insane.”
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Payday loans, home equity lines of credit used to consolidate credit card debt, and early withdrawal from 401(k) plans were cited as major mistakes.
One commenter described a coworker who withdrew a company 401(k) contribution each year and paid the 10% early withdrawal penalty plus taxes.
Another shared that someone took out a personal loan of $8,000 each year for Christmas gifts.
The thread highlights a broader problem: many people confuse improving their lifestyle with financial progress. They chase appearances instead of building stability.
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In the end, the stories weren’t really about boats or Candy Crush. These were short-term emotions taking precedence over long-term thinking.
And as one commentator said: “Spenders are going to spend.”
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In this article, people share the dumbest things they’ve seen others do with money. From Buying Boats and NFTs to Thousands Spent on Candy Crush Stock and SPACs originally appeared on Benzinga.com
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