Many people have experienced financial setbacks in their lives, whether due to unexpected expenses, career changes, or personal challenges. In this listicle, we’ll hear from real people who have experienced financial ruin and the lessons they’ve learned from their experiences.
One woman shared that her son’s rehab from an opiate addiction was a significant financial burden, but that it was worth it for his sobriety. “Totally worth the 9 years of sobriety he has under his belt,” she says.
Mental Health Expenses
Another person shared that their depression led to thousands of dollars spent on therapy, leaving them financially drained. “Spent thousands on therapy and now… Well I’m alive but I’m broke,” he said.
Eating Out Too Often
One person shared that not making their own meals on a daily basis led to unnecessary expenses on fast food. “That 5-10 dollars on fast food adds up.”
Another person shared that their divorce was a significant financial setback, but that it was worth it for their happiness. “Can’t put a price on happiness man. I can rebuild financially by myself instead of watching her sink the ship and being gaslit into believing I’m the financially irresponsible one.”
Failed Business Venture
One couple shared that their decision to quit their jobs and open a VR arcade in Tahiti led to significant financial losses due to COVID-19. “As luck would have it, we opened literally a week before covid,” he said. “That hurt us hard. We are still very much in the hole, but climbing our way out.”
One person shared that investing in a career path that didn’t end up being right for him set him back financially. “I’m set back a couple years because I spent a lot of money towards a career path that didn’t end up being right for me.”
One person shared that a large hospital bill, compounded by interest and a misunderstanding with their spouse, led to significant financial strain. “I wouldn’t say ruined because I did recover eventually. We had a large hospital bill and though they suck, they are pretty flexible with making payments and they don’t charge interest. One day I was on the road and the bill was due so I called my wife and asked her to make the hospital payment for me. Apparently I wasn’t clear in my instructions so she called the hospital and quite literally paid the entire balance off on my credit card. I think it was “10k. I was devastated. I tried to call and get them to cancel the transaction but they told me I was out of luck.”
One person shared that being laid off during a tanked economy left them unemployed for almost a year, creating a financial hole that took years to recover from. “That created a hole that took years to recover from,” they said.
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