This article is from Ashley over at Money Talks. Her passion in life is to help you get control of your money. If you like this article you should stop by her site. Or better yet, subscribe to her feed or newsletter.
I used to think that I didn’t have any regrets when it came to money. I’ve always been fairly frugal and a saver at heart. Sure, there are things I would do differently if I had a do over but nothing I would really call a “regret”.
And then our hot tub broke. (I’ve been told to call it a “spa”. I guess “hot tub” sounds hill-billyish but I refuse. It’s a tub and it’s filled with hot water. A hot tub.)
We’ve had the hot tub for about 5 years. We bought it new from a local company that had been in business for 20 years. After we had it for about 2 months we called them out to do some warranty work. Something needed to be changed, I can’t remember. They were easy to work with and came right out. But I couldn’t find the key to open the panel so fixer guy could get inside the hot tub. He said he would come back next week and just to call and make another appointment. We were going on vacation so I waited til we got back. About 3 weeks after the first appointment I called to reschedule.
They were out of business!
Grr… but we got the hot tub fixed for free, it wasn’t the “proper” fix but it worked. We used it regularly for 5 years. Until about a month ago. Now it won’t turn on. Not at all. The water is getting moldier by the second. I’m not willing to put another dollar into it so we are just going to drain it and try to get rid of it as soon and as cheaply as possible.
I wish we had never bought it. Granted we did get 5 years of use out of it, but it wasn’t worth it. With buying the tub itself, delivery, and getting an electrician out to hook it up it cost us about $6,500. UG I don’t even want to write that! Too much money. I don’t know what I was thinking. We couldn’t afford to max out our IRAs but we could afford a $6,500 hot tub. Gawd! So for 5 years of use it ended up costing $108 per month. If we used it once a week on average it cost $25 a soak. Plus extra electricity and chemicals. In my defense I did plan on having it a lot longer than 5 years.
Ugg… stupid hot tub.
Once I opened my mind to money regrets I realized I had others too. The pool table at a whopping $4,000. Used it quite a bit for about a year. Barely touched it in the past 6 years. I’m hoping once the kids get old enough to play we will start using it again. I could see them having friends over and playing. Maybe?
And of course, don’t forget the elliptical machine for $800. Please, someone explain to me why I didn’t buy this used. I do go through spurts where I use it for a while and then quit. But those spurts get shorter and further between as time goes on. I bought it so that I could work out while my son was taking naps, but now he is in school so there is no need. I’d rather walk around the block.
Well that’s $11,000 I’ll never get back! I could have bought a decent used car with that!! What’s your biggest money regret?