Have i been an idiot with money? i got £500 pounds for xmas?

Question

and blew it months,i got £800 for a birthday and i blew tht in months

Answer 1

They were presents.  If people would have bought you presents rather than giving money, then you would not have had cash.  Everybody decided that the cash was better for you, and sure if paid your overdraft.

You did right spending it, live life, once you enjoyed what you bought.

Answer 2

It's easy to do because our wants and needs are sometimes crossed when we have money in hand. Don't beat yourself up over it. Learn from the mistake(s) and don't repeat them. You should use your money to make MORE money. Next time invest in a business course, book, seminar or something that can earn you money instead of just spending it. You're not an idiot... you're normal.

Answer 3

Let's think about what could have happened if you HADN'T blown it in months: since you are getting cash for Xmas, we'll assume you are 18 or younger; If you had put that £1300 in an "average" growth mutual fund instead of blowing it, you can be sure that by the time you reach 58 it would have grown to somewhere between £28,000 (worst case scenario) and  ÃƒÂ‚£172,000 (most likely scenario).  If you had achieved typical historical returns and left it there until you are 68, it would be worth about £1,000,000...

Hopefully you got a million pounds worth of fun out of the money!

Answer 4

I have too agree with you, you are an idiot

Answer 5

a fool and his money are soon parted

Answer 6

In months?

I would spend £500 in a week (or maybe 2) - easily..

Answer 7

Well you didn't give us much information so I'm going to have to say YES, assuming you spent it all on trivial stuff like trendy clothing.

Answer 8

£500 not alot of money really.i got £5000 in febuary and it was gone in about 6 weeks.

Answer 9

Have you learned your lesson? If so, it was an expensive one, but may be worthwhile if you know better next time.

Answer 10

what did you do with it?

Answer 11

Yes you have been an idiot