The Worst Financial Decision of My Adult Life

Mistakes in life are part of living life. We are all meant to make mistakes but the point of them is to learn from them. As a kid when I made a mistake I would say "Oopsie Daisey!" and my mom and dad would think I'm so cute then clean up my mess. When I was 15, I went on a roller coaster with my phone in my pocket and it got smashed to bits. My dad graciously paid for a new one and I went on happily with my life. As you get older, making mistakes gets more costly.

I was an 18-year-old on a college campus; my parents finally let me make my own financial decisions; like whether I should buy or rent a bike. I went to the bike shop on campus and saw they were having a sale for college students whom were only staying the summer. I would pay $199 for an 8-week rental which seemed a bit pricey but there were perks to the rental. I would have free repairs and part replacement, a free helmet, a heavy-duty bike lot, and theft-replacement (which means in the case that my bike were stolen they would loan me another one). Bikes at Walmart were $99 and more. Sure, it's a better price and the helmet and lock wouldn't be much more. I would've probably spent $170, however; Walmart was 5 miles from campus. The hassle of going to Walmart, buying the bike, a lock, and a helmet and then taking it all on the bus seemed not worth it. So, in my mind if I don't lose the bike, I'm getting my money's worth in convenience, free repairs, and the added stuff. I sign the rental contract and my bank account drops $200.

Now weeks go by and I'm making use of my bike until a fateful Friday morning. I rode to my dorm. The wind was blowing through my hair, the warmth of the sun hugging my face, I felt utter joy that I was spending the summer at my dream school. I got to my dorm's bike parking section and all the sudden my nose started bleeding. I quickly rushed inside to the bathroom and grabbed a bunch of paper to catch the blood. Having a nosebleed can be so inconvenient because I'm wearing the prettiest shirt. Now I must go change and do laundry. I spend the rest of the day studying, eating, watching Netflix, then hanging out with friends. Saturday morning, I wake up, get dressed, eat breakfast, and head for my bike so I can ride to the library. Of course, there's just one thing missing, my bike. When I check the lot, it's gone. I instantly remember I didn't lock it since my nose was bleeding. I stay calm and walk to the bike shop to inform them of what's happened. To my understanding they're going to give me a new bike and I can go on my merry way. To the contrary, that's not how bike rentals work. I must pay $300 (the rest of the deposit fee) for the company to buy a new bike; however, yes, I do get another bike free of charge until I leave. If it gets lost or stolen, I'll have to pay $500 to replace it. Since I had rented instead of bought a bike I'm out $300 I don't have. I spent the rest of the day in my room depressed. I had no money in my account, so I was going to need my Dad's help. He was not so gracious. He agreed to pay the fee so long as I repaid him every dime. For the beginning of the school year I worked my soccer referee job to pay back my dad. It was kind of sad having to earn $300 only to give it all to him and have $0.

The bike was the worst financial decision on my part. From this mistake I learned two lessons. Lesson number one is never rent a bike for $200 when you can buy one for the same price. I wouldn't need free repairs since I have so many friends who could've helped me if something were to happen. Lesson Number two is always be aware if your things are secure. If I had just come back outside to lock my bike I would've gone on with my summer as planned and returned the bike in the end. All in all, I know I will never leave my bike, or my car unlocked under any circumstance.