Comments on: Friday Financial Foul Ups – How I Didn’t Earn $3000 in Free Money

By: jonn2

jonn2 — Tue, 07 Sep 2010 20:30:23 +0000

comment5, cheap cigarettes online, 12553, discount marlboro cigarettes, %]], buy accutane no prescription, vkx, levonorgestrel, 5519, tamoxifen, 232041,

By: Stephanie PTY

Stephanie PTY — Sat, 19 Sep 2009 07:21:28 +0000

Argh, I have one of these myself. Last year, I was still a dependent on my mom’s taxes. It was the end of the year, and I had a bunch of money saved up to pay off student loan interest. If I paid it before the end of the year, the tax deduction would go to my mom. If I waited, it would go to me. I decided to do it before the end of December as a Christmas gift to my mom.

Well, turns out I didn’t read the fine print well enough – there’s no tax deduction if you’re a dependent. Not for me, and not for my mom. If I had waited until January, it would have been 2009, and I would no longer be a dependent on her taxes, and I could get my tax deduction in 2010. But instead, it just disappeared completely, and neither of us gets it.

It was about $280, I believe, which isn’t much compared to you (10x more in your case!), but it still hurts to have $280 just vanish!

By: JerichoHill

JerichoHill — Fri, 18 Sep 2009 17:03:34 +0000

Dude, you will have no shortage of stories! And honestly, the best way for folks to learn about personal finance isn’t from success stories, but from where we failed or screwed up!

By: Craig

Craig — Fri, 18 Sep 2009 16:14:32 +0000

I like the new series as well. You are putting away a lot of money to make up for the loss and better to learn this mistake (even if a lot of money) now then later.

By: J. Money

J. Money — Fri, 18 Sep 2009 15:53:17 +0000

haha…i like this new series of yours you can go on for years!!! (ooohhhh) on a more serious note though, at least you’re socking away a lot! much more than i can say about others out there great post, bro.

By: Mrs. Micah

Mrs. Micah — Fri, 18 Sep 2009 15:44:20 +0000

Sucks. As you say, not a complete failure–better to save it than not.

You know, Roth IRAs allow you to withdraw the part you contributed. Unless the value has changed significantly, you could probably take the money back out & try it again. I’m not sure how easy it is, but for $2-3k it’s worth looking into.