investing

6 personal tales of bad financial decisions

Buying into 'As seen on TV'
Buying into 'As seen on TV' © Iofoto/Shutterstock.com

"When I made a relationship mistake back in 1990, I never dreamed it would define my financial future and haunt me for the rest of my life," says LinDee Rochelle, a San Diego-based writer.

That mistake was quitting her job to join her then-boyfriend in a business venture: selling "as seen on TV" products. The business was in her name and all was well at first, "until he began spending the dollars, which were supposed to go back into products and living expenses, on drugs," Rochelle says.

Rochelle isn't a drug user herself, but she stayed with him longer than she should have. The relationship "influenced my financial decisions to the point that I lost everything," she says.

She took on several low-paying jobs, including one that involved relocating for 12 years before returning to San Diego just as the recession began in late 2007.

"I was never able to recover or save for retirement," she says. In hindsight, Rochelle recognizes the importance of having a backup plan and acknowledges that "relationships and financial decisions should be kept separate."

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