Make no mistake, this section is what not to do.
But we thought it would be a nice group catharsis to send along some financial confessions. We advise you to read ‘em, learn from ‘em, and NEVER repeat ‘em.
1. Confession: Rose, 25, New York, NY
“Even though my bank account has steadily remained at negative $8,000 since July (it goes up when I get my paycheck but always ends the month in the same place), I continue to be fully addicted to online shopping. On any given day I come home to up to five boxes waiting for me. And on an odd day when I have no packages, my doorman will announce, ‘There’s actually nothing for you today!’ Because that is definitely not the norm…”
2. Confession: Talia, 27, Los Angeles, CA
“My friends and I take turns buying drinks each time we go out. I’m the kind of person who always tries to make people happy, so when it’s my turn I want to be a sport. I start a tab and buy drinks on my credit card like nobody’s business. I’ll treat my normal friends, and sometimes I’ll also treat their friends and friends’ friends to rounds. I once racked up $1,500 on a tab—almost my entire paycheck in one night.” Talia, 27, Los Angeles, CA
3. Confession: Katie, 25, Phoenix, AZ
“I missed a few tuition installments in college because I thought it wouldn’t be such a big deal. Wrong. My school wouldn’t let me graduate. It’s so frustrating because I finished all the other requirements. It’s been three years, I’m still behind, and I still don’t have my diploma. I finished all my classes, but I don’t know if I can tell employers that I graduated from college…and I’m too scared to ask.
4. Confession: Marianna, 29, Boston, MA
“My co-worker and I got our yearly bonuses from our jobs at the same time, so we took those checks shopping with us. We didn’t talk about how much each of us got, but I think that she got more than I did. I didn’t want her to blink, or worse, start telling other people that my bonus was low, so I spent the same amount she did. She spent a ridiculous amount on shoes and clothes. I spent close to that even though I can’t really afford to, and I can’t even return my stuff because she’s expecting to see me wear it to work.”
5. Confession:Jenna, 27, Seattle, WA
“I’ll admit it. I’m a total shopaholic. I was spending so much that I finally had to do something. My solution: I go to the store and try on everything two sizes too small. My urge to buy anything evaporates after I see myself in the mirror.”
6. Confession: Kavita, 23, Charlotte, NC
“I bought a Nintendo Wii last year for Christmas. (I said it was for my family, but it was really for myself. I wanted to use it to get in shape.) It’s November now and I’m STILL paying it off!”
