Expensive financial mistakes

[ozliz]

I just found out that I’ve received a very large traffic infringement notice. I’m in Australia so I won’t go into the details, but it was a big mistake and there’s clear video so it’s highly unlikely I’d be successful in any type of appeals. I don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is. I’m fortunate that I have a healthy emergency fund and can pay it without causing any major difficulties. But I also budget carefully so I can do fun things like Disney trips.

I was trying to work out how to find some extra money in the budget to give myself the excuse of taking an expensive cruise next year (additional income isn’t an option as one job is exhausting enough). I’m now really frustrated with myself for making this mistake and what it’s going to cost.

I’m interested in how others have managed this type of thing. Less from a budget sense in terms of affording the $ and more from the I’m annoyed with myself for messing up sense (I’ve a clean driving record and not even a parking ticket after 20 years - definitely a rule follower).

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it? I’m asking here as I assume many are similarly cautious on this board so might have gone through something similar.

 

[disneyfan150]

Fellow rule follower, here. Totally understand how you feel. I have decided to give myself some grace. I'll still toss and turn for a couple nights as I am a worrier, too. But in the end, I just have to pick myself up and move on.

 

[DL1WDW2]

I’m not asking for your personal details but I would consider discussing this with a lawyer to protect your driving record and insurance record.
I am curious and would like to know more about driving in a foreign country . In California , for example, I think they have more legal definition for the video or photographic Camera at intersections …
You have given us all an important reminder to know the law!

 

[Rogue1677x]

Yeah, going car shopping when tired and with a tired toddler. That's a recipe for disaster.

We had to replace my previous car in a short amount of time and after looking at a bunch of cars we settled for what I've got. In hindsight we realize we paid too much, it's an expensive car to maintain since my husband can't do all of the maintenance and repairs himself, etc.

 

[ozliz]

I’m not asking for your personal details but I would consider discussing this with a lawyer to protect your driving record and insurance record.
I am curious and would like to know more about driving in a foreign country . In California , for example, I think they have more legal definition for the video or photographic Camera at intersections …
You have given us all an important reminder to know the law!

It’s not a criminal matter so legal fees are not worth the $$$, simply an infringement which can mean a lot of $$$ where I live (although there are worse for some new matters associated with phone use in some states) but nothing that is going to impact my very long and good no-claim bonus with the insurance company thankfully.

Also, my driving record will be permanent but after 3 years the points against the license are wiped so I’m actually not worried about those as this is the first time I’ve had any so I’m confident I don’t have to worry about losing my license.

It’s really the $$$ which could have been worse, but also the fact I have almost no memory of it due to how busy things are right now. There’s a lot going on!

 

[gottalovepluto]

Yep, expensive mistakes that are your fault happen.

Moving past them can be as simple as pay it and move on, but since you cannot even really remember what went down I think this one is an early warning signal for your emotional health. You’re burning out. I’d find something to drop in my life before an even bigger mistake is made next time.

 

[peabody58]

Leaving money on the table! Mic drop.

Not my mistake as I retired at 57, but I run into so many people who do it and you can't convince them otherwise.

Just finished helping my 57 yo SIL develop a real time Budget / Retirement Projection Spreadsheet with the intent of retiring in 9 years. She was leaving a lot of money on the table (Company matches, current and long term tax savings, wrong investments, etc.).

She was shocked when I put the numbers through a stress test. Even more impressed when she saw what the long-term differences would be with just a few simple tweaks to her financials. Most of her financial advice up to this point was from her broke uninformed friends, who are also leaving a lot of money on the table.

 

[georgina]

(Quoting to follow the Rule)

I just found out that I’ve received a very large traffic infringement notice. I’m in Australia so I won’t go into the details, but it was a big mistake and there’s clear video so it’s highly unlikely I’d be successful in any type of appeals. I don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is. I’m fortunate that I have a healthy emergency fund and can pay it without causing any major difficulties. But I also budget carefully so I can do fun things like Disney trips.

I was trying to work out how to find some extra money in the budget to give myself the excuse of taking an expensive cruise next year (additional income isn’t an option as one job is exhausting enough). I’m now really frustrated with myself for making this mistake and what it’s going to cost.

I’m interested in how others have managed this type of thing. Less from a budget sense in terms of affording the $ and more from the I’m annoyed with myself for messing up sense (I’ve a clean driving record and not even a parking ticket after 20 years - definitely a rule follower).

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it? I’m asking here as I assume many are similarly cautious on this board so might have gone through something similar.

Definitely have made a few expensive mistakes over the years. As a person with anxiety issues it bothers me, affects my sleep, eating, physical health. Takes me a while to get past, long walks outside help me, deep breathing exercises, eventually have to accept that it could have been so much worse. It is only money after all...

 

[PHXscuba]

I sometimes have to "do the math" to talk myself down and remind myself that we all make mistakes. Obviously a big number is a big number in the short term, but think about this: Let's say you had a clean driving record with no tickets/penalties for 20 years and now you owe $4000. Well, that's a $200-a-year consequence for the 20-year period, just all coming due now. That's why we keep emergency funds instead of extended warranties -- our own pay-it-in-advance plan that can flex to cover different emergencies/accidents.

PHXscuba

 

[figment52]

While you have admitted you're at fault (guilty) what you want to do now is mitigate the damages. Talk to the insurance agent or maybe the court and see if there is anything you can do to lessen the fine or the points on your license and in turn lower the possible increase to your insurance premiums. Going to court and humbling yourself and pleading your good record they may lessen the fine. I know that stateside this approach is useful to good drivers (first offenders) and sometimes a refresher driving class will be part of the penalty but is the cheaper penalty in the long run.

Now for the budget, can you lessen the impact on your upcoming "expensive cruise" by choosing a less expensive cabin or lowering some of the add on items.

 

[goofytinkerbell]

I just found out that I’ve received a very large traffic infringement notice. I’m in Australia so I won’t go into the details, but it was a big mistake and there’s clear video so it’s highly unlikely I’d be successful in any type of appeals. I don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is. I’m fortunate that I have a healthy emergency fund and can pay it without causing any major difficulties. But I also budget carefully so I can do fun things like Disney trips.
The o
I was trying to work out how to find some extra money in the budget to give myself the excuse of taking an expensive cruise next year (additional income isn’t an option as one job is exhausting enough). I’m now really frustrated with myself for making this mistake and what it’s going to cost.

I’m interested in how others have managed this type of thing. Less from a budget sense in terms of affording the $ and more from the I’m annoyed with myself for messing up sense (I’ve a clean driving record and not even a parking ticket after 20 years - definitely a rule follower).

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it? I’m asking here as I assume many are similarly cautious on this board so might have gone through something similar.

The only thing you can really do is try an accept that mistakes happen and find a way to rearrange the budget to cover it.

And if you're like me, you'll beat yourself up over it for the next 30 years

 

[Princess Disney Mom]

Everyone makes mistakes and we need to expect and plan for the unexpected expenses. Some I’ve had were, a ticket like you , broken glasses , broke tooth, illness, booked the wrong flight for my husband only, had to cut a trip short to death in family (airline change expenses ), kid lost or broke their cell phone , paid too much for someone to fix something in the home , paid too much at a store on vacation as we needed an umbrella, jacket , poncho, water, shoes and the list goes on. We are all human and unexpected expenses sucks but it happens. Sorry it happened to you.

 

[lanejudy]

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it?

Mistakes happen. I'm sure we've all had times that we spent more than we should have, whether by choice or circumstances. Having a healthy emergency fund helps soften the blow financially and we move on.

don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is.

It’s really the $$$ which could have been worse, but also the fact I have almost no memory of it due to how busy things are right now. There’s a lot going on!

BUT...please take this as a wake-up call. If you are too busy, too distracted, too whatever to focus on your driving then please find alternative transportation. What strikes me most about your posts is your focus about the money rather than the "thankfully no one was hurt" part. I wasn't going to post because I'm sure you don't want a lecture...but just last night a local 7-yr-old was killed by a distracted driver. That family is devastated. PLEASE don't shrug this off and excuse it as an absent minded moment. You've admitted life is busy do please take that to heart and learn from this. Don't get behind the wheel if you can't be fully in-the-moment. There may not be a second chance...for your or someone else.

 

[Anthony1971]

Pay learn and move on…. Had my license revoked at a much younger age…. Had cars hit a few times in parking lots 500-700 damage insurance will only cover under comp so no claim. Has a motorcycle stolen that I didn’t have theft on…. If any of this makes you feel better. Things happen most important learn from the mistake.

 

[ozliz]

Mistakes happen. I'm sure we've all had times that we spent more than we should have, whether by choice or circumstances. Having a healthy emergency fund helps soften the blow financially and we move on.





BUT...please take this as a wake-up call. If you are too busy, too distracted, too whatever to focus on your driving then please find alternative transportation. What strikes me most about your posts is your focus about the money rather than the "thankfully no one was hurt" part. I wasn't going to post because I'm sure you don't want a lecture...but just last night a local 7-yr-old was killed by a distracted driver. That family is devastated. PLEASE don't shrug this off and excuse it as an absent minded moment. You've admitted life is busy do please take that to heart and learn from this. Don't get behind the wheel if you can't be fully in-the-moment. There may not be a second chance...for your or someone else.

Had the road and the intersection not been so quiet, I expect I wouldn’t have broken the rules. I work odd hours a few times a year to cover things on international time zones and never drive during that week, or while jet lagged, to get home from the airport, etc. Im always amazed at people who arrive home from long haul flights and drive home an hour or more from the airport.

I’m normally excessively cautious which I think is why I’m so annoyed at myself - so many years getting road raged (road rage is a problem where I live) for following speed limits!

 

[snowwite]

I just found out that I’ve received a very large traffic infringement notice. I’m in Australia so I won’t go into the details, but it was a big mistake and there’s clear video so it’s highly unlikely I’d be successful in any type of appeals. I don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is. I’m fortunate that I have a healthy emergency fund and can pay it without causing any major difficulties. But I also budget carefully so I can do fun things like Disney trips.

I was trying to work out how to find some extra money in the budget to give myself the excuse of taking an expensive cruise next year (additional income isn’t an option as one job is exhausting enough). I’m now really frustrated with myself for making this mistake and what it’s going to cost.

I’m interested in how others have managed this type of thing. Less from a budget sense in terms of affording the $ and more from the I’m annoyed with myself for messing up sense (I’ve a clean driving record and not even a parking ticket after 20 years - definitely a rule follower).

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it? I’m asking here as I assume many are similarly cautious on this board so might have gone through something similar.

I co-signed a loan so that someone could pay off his debts. It never occurred to me that he might default or that a court would hold me responsible but it happened. It took me years to rebuild my credit and my self confidence. I have a hard time trusting people and I will never, ever co sign for anyone, not even family. Don’t beat yourself up. It happened. It’s unlikely to happen again. Just pay it and start saving again.

 

[snowwite]

Everyone makes mistakes and we need to expect and plan for the unexpected expenses. Some I’ve had were, a ticket like you , broken glasses , broke tooth, illness, booked the wrong flight for my husband only, had to cut a trip short to death in family (airline change expenses ), kid lost or broke their cell phone , paid too much for someone to fix something in the home , paid too much at a store on vacation as we needed an umbrella, jacket , poncho, water, shoes and the list goes on. We are all human and unexpected expenses sucks but it happens. Sorry it happened to you.

I’m curious about the flight. Did your husband find out before he got to the airport? Mine would not be amused

 

[Donna M]

In a situation like yours where you say you have the money to pay for it, I like to pay it off as fast as possible so I can move on and forget about it. It doesn´t sound like you´ll be repeating this, just try to forget it; there ´s nothing you can do now.

 

[Princess Disney Mom]

I’m curious about the flight. Did your husband find out before he got to the airport? Mine would not be amused

I figured it out 24 hours before the flight when I tried to check us both in ( southwest). When I tried to do his it gave an error it was too early. I called Southewest to change his flight to one day earlier. That cost me about $150 extra for the flight difference . . My husband took it better than I did , but it was my mistake.

 

[mistysue]

I just found out that I’ve received a very large traffic infringement notice. I’m in Australia so I won’t go into the details, but it was a big mistake and there’s clear video so it’s highly unlikely I’d be successful in any type of appeals. I don’t really remember what happened but life is crazy right now so let’s just call it an absent minded moment and thankfully no one was hurt.

The thing that’s bothering me most of all is how much of a waste of money this is. I’m fortunate that I have a healthy emergency fund and can pay it without causing any major difficulties. But I also budget carefully so I can do fun things like Disney trips.

I was trying to work out how to find some extra money in the budget to give myself the excuse of taking an expensive cruise next year (additional income isn’t an option as one job is exhausting enough). I’m now really frustrated with myself for making this mistake and what it’s going to cost.

I’m interested in how others have managed this type of thing. Less from a budget sense in terms of affording the $ and more from the I’m annoyed with myself for messing up sense (I’ve a clean driving record and not even a parking ticket after 20 years - definitely a rule follower).

Has anyone else made any expensive mistakes that were in your control but you messed up anyway? How did you move past it? I’m asking here as I assume many are similarly cautious on this board so might have gone through something similar.

When I was a young adult and REALLY struggling- I was stopped at an intersection where there was a specific light for turning left. I waited for the entire cycle of other directions to go around twice and the left turn was NOT turning green for me. It was about 4 in the morning, so I was the idiot sitting at a completely empty intersection in a smaller town waiting for nothing. So I went on a red light. And out a police officer came clearly waiting for someone to make this exact judgement call. Before that I had a perfect record, and the cost of that ticket was more than my entire grocery budget for the month. Plus it raised my driving insurance by enough to cost the wages of 4-5 hours/month at my job. It was terrible and so unfair.
I just had to give it time to get over it. I've always thought so many of these fines are unjust when you look at lower income people who are not able to afford them but are also less likely to have the resources to fight them. Even just the ability to take a days off, I couldn't risk missing out that much income to go fight the ticket.