The cheapest way to learn is by analyzing other people’s mistakes.
True, sometimes you need to make your own mistakes. It is only then that the lesson sticks to you. But that can get quite expensive, in terms of time and capital. This is why I feel, more than success stories, you need to observe and learn from other people’s failures. They teach you a lot, with no damages incurred.
I love going through Quora and Reddit. Back in the day, we used to have Yahoo! Answers. You get to learn from the insightful answers given by users who truly want to help you out without any monetary gain.
I happened to stumble upon a Reddit thread today. It was titled “What common thing screams “I make poor financial choices?”
I am attaching screenshots below with some personal finance mistakes to ponder upon. Some of the replies are witty. I am including them just for smiles!