Pamela Labranche 26

Q: What was your worst financial decision?

A: When I was 18, my friend and I applied for a Chase Visa credit card and we got accepted. At the time, I began attending The New York City College of Technology, and to remain in school I decided to put my $2,026.50 tuition bill on my credit card. The interest accumulated because I wasn’t making regular payments. I was charged $800 for my delinquency. I ended up leaving City Tech, but still had to pay my share of the bill and messing up my friends’ credit.

Daniel Brush 38

Q: What was your worst financial decision?

A: In the mid 90s, a couple of friends in LA formed a rock band called Galaxy. One year later, after having some local success, they asked me to lend them $5,000 for producing a demo record in a local studio. I really liked their music and believed that their songs could find an audience. I gave them the money. The guys went into the studio. Soon they were arguing (I was told later). Two of the four band members stopped showing up, and that was the end. Over several weeks I tried unsuccessfully to contact the guys. I learned later that one guy bought a new guitar, the other guy bought a car, all with my money. Years later, one of them actually paid me back $1000. The rest of the money I never saw again.

Leo Castagna  57

Q: What was your worst financial decision?

A: Twenty years ago I was looking at a house for sale back in Uruguay, in La Union, the neighborhood where I grew up. I found a really good place that at the time was worth $18,000. I talked to my father and brothers about whether or not I should invest in getting the house; they advised against it because they said that it was not safe, so I decided to not go through with the purchase. I also did not have the whole amount at the time. Six months later the price had increased to $60,000. Today it is worth about $160,000.

Max Cabrera 24

Q: What was your worst financial decision?

A: One night I was drinking with buddies at my friend Mike’s apartment, hanging back and enjoying the night. We decided to play cards. At first, everything was  good, everyone was  kicking back. Next thing I know we start to play for money. In the first few rounds I won around $250.  I thought I could win more, so we kept playing. By the end I lost the $250  plus $950 which was my rent money for my apartment in Ossining, N.Y.

Eda Clarke 53

Q: What was your worst financial decision?

A: Getting involved with a debt consolidation company called Debt Resolver USA Incorporated. I had accrued about $45,000 worth of debt to Visa, Mastercard, Capital One, and American Express through various purchases over a five-year span—mostly clothes from JC Penny, daycare, mini cooking stove play sets, two Dell laptops, one desktop, three printers from staples, two bed sets and three shelves from local furniture stores. I paid them $39,000 just for them to end up paying none of my bills, and then after they took my money without using it to do their job, I still had my backed up bills to answer for, which eventually lead to the freezing of my bank accounts.

Marien Morales 14

Q: What was your worst Financial Decision?

A: When I was 12, my dad and I went to the Dominican Republic. My dad gave me $200 to shop with, and I ended up spending it all on souvenirs at a famous Dominican beach called Sosua. I bought gifts for my dad, my mother, my aunt and uncle, and my brother. Almost all of them lost the presents within a month. For my dad, I bought a paper weight with a pen holder shaped like the Dominican Republic. It has various landmarks on it. I think it’s somewhere on his desk, under loads of paper. I brought my brother a keychain—he doesn’t know where it is—a hand-painted shirt that he lost at the gym, and a necklace with a shark tooth which he never wore because he didn’t like it and he ended up losing. I bought my mother a really nice oval medallion necklace. She says she didn’t lose it, but she can never find it. I bought my uncle a shark tooth necklace as well (I guess they were popular), which he actually wears from time to time. I bought my aunt one of those ethnic dolls, probably the most expensive present, and her 2-year-old daughter ended us breaking its ceramic head.

Bianca Rodriguez 18

Q: What was your worst financial decision?

A: Last year for my senior prom at St. Peters Girls High School in Staten Island, we booked a weekend at The Hershey Motel in Seaside, New Jersey. The event had nothing to do with the school. The booking was for all seniors and their dates, and I handled the payments;  room reservations cost $180 per person for two nights—a total of $3600. The lady over the phone told us the balance, and I got everybody’s money before we went to Seaside. I paid cash to the hotel owner, but then she added the  tax, which was close to $500.00, and it was charged to my credit card. Some people gave me the extra money, but it was a hassle going around to everyone figuring it out. In the end, I  had to pay most of the $500.00 out of my pocket.

Derrick Ramon, 22.

Q: What was your worst financial decision?

A: Spending money on video games ever since the Xbox gaming system came out. I really wanted to get it in 2001 because it carried the popular Halo game. Ever since,  I must’ve spent well over $2,000. I’ve purchased countless games, including the rest of the Halo series, and the newer Xbox 360 system. I still have all of my games, but I don’t spend much now. Still, I’m too attached to sell them. I’ve played them once or twice, and that’s it. They’re lying around doing nothing. However, I’m still going to continue and buy the Halo 4 when it comes out next year.

Kirk Herold 56

Q: What was your worst financial decision?

A: Four years ago, I bought an Olevia 42 inch HDTV at a Staten Island Best Buy for $599.99, a good price. The brand wasn’t top notch, and that is why the price was so low. The TV was great for about two months, then the coloring started to go and the picture wasn’t as sharp as when we first bought it. We didn’t have any warranty on it and it basically was useless with such a bad picture. I threw it in the trash. From now on I will only buy TV’s with good reviews and a trustworthy brand.

Graig Straus 30

Q: What was your worst financial decision?

A: About six months ago I purchased a hand-held GPS device from www.delorme.com. The device would allow me to map out hiking trails, biking trails and ski slopes and to find my way if I ever got lost. Since these devices came on the market, I’ve really wanted one. The device is called the DeLorme GPS with satellite receiver. The satellite receiver allows me to send text messages, call for help, and—most importantly--update my Facebook from every orifice on earth. I can be lost in Antarctica and still tweet it. While this sounds cool—and believe me it is—I haven’t taken it out of the box yet. So I paid $500 for a box with a cool device in it. It happens to be the best handheld GPS on the market, which only ever so slightly justifies the waste of money.