Worst Things To Finance With a Loan

Was talking to my old roommate yesterday and remembered this funny story. Decided to share it 🙂

When I was at university, I had a roommate who was, apparently, allergic to money. Upon receiving his first student loan instalment of the year he spontaneously booked a cruise from New York down to Mexico. We lived in London, England. He had no plans to go to New York.

Then the next instalment arrived and he immediately blew hundreds of pounds on an ‘inflatable hot tub’. And yes that is essentially one of those kids pools you have in the garden in summer. That he paid to get delivered from China. And yes, he could have just gone to almost any other store and bought one for 10% of the price.

It arrived, already with a puncture, he tried to fill it up in the kitchen and flooded the entire apartment (and the one below it when the water escaped through their ceiling).

But this made me wonder what other crazy purchases have made people think ‘oh I must take out a loan so I can afford that, immediately’.

Here are the top 3 worst things people were willing to admit to spending their loans on. Turns out not many people are willing to admit their dumb spending habits.

1. One guy spent all of his loan money on McDonald’s happy meals after becoming addicted to collecting happy meal ‘The Secret Life of Pets’ toys. Cool.

2. Another guy with literally no income at all applied for a loan to pay for a cruise. Who knew cruises were so popular amongst the financially unstable?

3. On girl even went as far as to apply for, get accepted into, and enrol at a university she had no intention of attending just to get her hands on the loan money to pay for a boob job. To be honest I’m actually quite impressed with the thought that went into this strategy. It would definitely be cheaper than heading to one of the title loan companies near me to risk my car.