After reading Blonde on budget post on this subject, I’ve got the idea to share my story on my personal experience on wasting my money on drinking. While I was younger, every weekend I was going out to eat and drink with friends. These weekend cost me between 150 to 300$ each. All this money was going to pay for beer and something to eat. I was living at my parents’ house and I was freshly out of school and working full time. I was putting money on a saving account to pay my car loan and I was spending all on these weekend and computers.
The money spent on computers was around 1500$ years and after using some of the stupid thing I bought like a gaming wheel at 350$, I sold them on kijiji. But the 150 to 300$ wasted on these weekend is lost forever.
What I wish I did back then ?
I wish I had put more money in a saving account or invested it. I don’t say I should not did that, but I could have spent around 75$ for these weekend instead of 300$. With 75$ I could have enough fun while drinking a beer or two without getting drunk. That would have made me 225$ by week in saving or 11700$ by year. I did that for about 3 years, so I wasted around 35100$. This money wasting was around 8 years ago. Today with a 7% return per years, I would have around 60308$. This would have made a great down payment for my house or a great portfolio.
I wish I had taken this in consideration before wasting all this money, but I can’t go back there so the only thing I can do is share my experience on that subject.
Readers : We all made error while we were younger, what was yours ?