Contribute To High School Money Book: Part Two

I announced HERE that I am in the process of writing my next book.  It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World

That is not necessarily the title, and it might end up being 10 things or 15 things.  All I know is that I want (and need) your help in writing this book!

For the next five days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

There will be two ways for you to share your idea – in the comments or by clicking "E-mail Joe" at the top of the sidebar here at

Part Two  Impulsiveness

Here is the question that I want to hear your thoughts on today:

How have impulsive financial decisions impacted your overall financial situation?   Share stories!

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  1. Sara Anders on May 11, 2009 at 3:46 am

    I wish I had learned A LOT of things before I hit the real world…

    I wish I had learned how to balance my checkbook. It seems rather simple now BUT it has been very expensive lesson to learn over the past 20 years. I cringe to think of how many overdraft and returned check charges I’ve paid over the years! A lot of it was just lack of initiative and then a habit of not doing it (or “doing” it later).

    I would recommend even before they open a checking account, students regularly deposit $$ into an account and keep record of it and get into the habit that you go to the bank/ATM/anywhere and have any financial transaction that you WRITE IT DOWN and document it.

    I also wish I would see that buying a soda and candy bar out of the vending machine cost me at least $1.25 a day…if I saved that, I could afford to go out to dinner on the weekend.

  2. Shane Kennard on May 11, 2009 at 6:57 am

    I purchased a new car in 2004 just because I had to have it. Ended up upside down in the car. Then the next truck I bought. Then the next car I bought. Just payed off the last car (thus the upsidedown-ness of all three situations) this past month (April 2009). Five years of being a slave to a vehicle. All because I didn’t want to look at our situation with honesty. I just wanted to buy the car.

  3. Do You Dave Ramsey? on May 11, 2009 at 11:43 am

    For me, Impulsive purchases are those more frequently accompanied by the “I deserve it, I work hard and I’ve earned it” chorus. It also comes with the later “what have I done” reframe.

    Impulsive purchases will ensure that you remain subject to your income rather than your income subject to you. They are innocent enough in their intial presentation but their cumulative effect they are financially crippling.

    I recently wrote and article about my worst financial decision and it illustrates what you can do when impulsive decisions get the better of you.

    Thanks for allowing us to participate Joe!


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