I lost $5000 and I want to CTB

[qpsns]

I lost money by repeatedly buying new electronics and then selling them as used. I did this too many times over the past few months and as a result, I lost $5000. I only have $600 left now. This is a huge amount of money and if my parents find out that I lost $5000, they will be very mad. I don't know what to do. I am scared to tell them the truth.

 

[houseofleaves]

I lost money by repeatedly buying new electronics and then selling them as used

super sorry to ask, but why did you do that…

 

[qpsns]

super sorry to ask, but why did you do that…

Because I thought I would only lose a little bit of money by trying out stuff

 

[houseofleaves]

Because I thought I would only lose a little bit of money by trying out stuff

if your parents find out, can you make a puss-in-boots eyes and say this exact words?

 

[qpsns]

if your parents find out, can you make a puss-in-boots eyes and say this exact words?

I could.

 

[houseofleaves]

I could.

is there anything else you could do to try to protect yourself?

 

[Graytaichi]

I lost 25k due to casino. No job. Hope this makes u feel better.

 

[qpsns]

is there anything else you could do to try to protect yourself?

Well protecting myself would mean freeing myself from the pain, so the only way would be ctb

 

[houseofleaves]

Well protecting myself would mean freeing myself from the pain, so the only way would be ctb

are you sure you want to die just because your parents would be mad…

 

[simulatingpenfart]

Loosing $5000 is rough, especially when you are young. But 5k is not worth taking your live. With a job you can make that money back in months, and with financial literacy fundamentals you can avoid making the same mistake again.

I know it's hard, but talk to your parents not just about the money but your feelings as well. Talking to ur parents is not the end of the world, even if it feels like it.

 

[its-about-time]

It's difficult for me to understand stuff like this. It makes it difficult for me to not make assumptions on things like your age. But I'm really not in a position to cast judgement—just because I don't understand doesn't mean your feelings aren't real or overwhelming or valid.

I just hope you can find some perspective and are able to handle this situation. Making non-disastrous financial mistakes are normal a part of learning how to manage money. I don't know your situation but most parents want their children to learn from their mistakes, not kill themselves over them. They may be angry, but if you're young, they also might just expect this kind of mistake too. Parents were youth too, once. They just don't like their kids to know that they did the same stuff ;) Try to be gentle with yourself if you can. I'm sorry this is so hard on you.

 

[downndone2]

I lost $150k, marriage, friends, lake house/toys, rental property, and owe irs over$30k. This all happened in 2019
My top reason for wanting to ctb is heartbreak, loneliness, and physical pain though

 

[ThrownAwayTom]

I did the same thing years ago to feed an addiction so I understand. I'd order the games or electronics on credit and then go sell it close to full price at a trade-in store so I could get cash for drugs. I got myself in £12K of debt very quickly.

This was 5 years ago. I got help from financial charities etc that consolidated it all and wrote a lot of it off.

I want to catch the bus now and I'm no longer in debt so I can't really talk, but £5K isn't a lot in the grand scheme of things.

 

[OldDrummer]

I lost money by repeatedly buying new electronics and then selling them as used. I did this too many times over the past few months and as a result, I lost $5000. I only have $600 left now. This is a huge amount of money and if my parents find out that I lost $5000, they will be very mad. I don't know what to do. I am scared to tell them the truth.

You really think your life is worth only $5k? Dude!

Consider it a learning experience. We only truly learn from our failures.

I'm sure your parents would be far more upset by you ctb'ing than losing $5k.

 

[Crazy4u]

Because I thought I would only lose a little bit of money by trying out stuff

If your parents find out, tell them you were trying to have small business and you lost and learned from your mistakes. No need to ctb. Can you find a part time job? You may recover the money if you work eough hours

 

[Foresight]

Most parents would rather lose $5000 than to lose their child. If the anger is going to be high I would be honest with them that you've contemplated suicide over this money. If their anger is unreasonable because they are unreasonable people, you owe them no explanation when it comes down to your life and move forward. I don't know what type of people your parents are.

I know it's a lot, I'm not taking away the value of money, but money comes and goes in life. It happens, a lot of people have stories of wasting or losing money in their years.

 

[Cathy Ames]

You really need to come clean with your parents about the depression, not being ready for the tests, and this money situation. What would make this easier? Do you have any other adults in your life who would help you talk to your parents?

 

[Insomniac]

I lost 25k due to casino. No job. Hope this makes u feel better.

this makes me feel better.

 

[qpsns]

You really need to come clean with your parents about the depression, not being ready for the tests, and this money situation. What would make this easier? Do you have any other adults in your life who would help you talk to your parents?

I already told them about the depression and not being ready for the tests. I just need to tell about the money situation, but I am all alone.

 

[Apathy79]

Not long after I turned 18, I concocted a plan to win money at the casino. I'd wait for 10 blacks or reds, then bet the other, then if it won, keep the money and if it lost, double down until it won. Rinse and repeat. There was no logic to this except in my idiot head lots of blacks meant red was due and vice versa - don't do this! Coincidentally I also had $5K, which at that time was my entire life savings from 3 years working in high school. After about 6-7 hours there, I'd won maybe $200, and then it happened - 20 reds in a row. All gone. I had almost no food in the house and rent due in 9 days. I had one day of work before then but that wouldn't cover it, and I had to eat in the meantime.

24 years later, I remember that feeling like it was yesterday. I could never tell anyone, I was so ashamed. I'd die first. And speaking of shame, the only way I could think to make money before the weekend was to pick up a few cleaning supplies from the house and door knock, offering to wash people's windows for $1 each. I didn't have a car so I had to do this locally, where people might recognise me. That was the worst part. Luckily it didn't happen.

In the end, when I knocked and someone answered, I told them I was doing it for charity. And many people went along with it and were very nice. Some even offered me something to drink. Some paid more than I asked. Once I got into the swing of it, it actually wasn't so bad, although I was lying about the charity part. I made about $800 that week, which was enough to get me through the next few weeks, during which I found steady work and got back on my feet.

I can understand the feeling. Your financial situation isn't that desperate yet. But if it gets there, there's probably a way to get through it without admitting to what happened if you're like me and just can't face that. Personally, I'd be far less ashamed of what happened in your case and maybe even own up to it and face the music, the fear of the reaction is probably worse than the reaction itself will be - a bit like my fear of door knocking.

 

[OldDrummer]

I just need to tell about the money situation, but I am all alone.

No you're not, we're here.

 

[Deformationalplagio]

5k seems like a lot when you're young but it isnt such a big deal. Just remember never to do something like that again.

 

[y0dha]

You can make 5k back in few months of working, not worth ctb for this .
You are not in debt, you still got 600$, you're still physically healthy and mentally healthy.
You might need a few days to digest the loss of money, but you're still strong, you can go back in life.

I don't think your parents would like you to ctb over 5000$, mistakes happen, they are here for you to grow

 

[Cathy Ames]

I already told them about the depression and not being ready for the tests. I just need to tell about the money situation, but I am all alone.

That's great that you've told them about the depression and the tests! Be proud of yourself. That took courage. It might not seem like it now, but you will feel SO much better once you have everything out into the open. You can do this.

 

[NothingElseMatters]

lol lot of money? i've lost us 200k.

 

[Crazy4u]

lol lot of money? i've lost us 200k.

It is the second time I see you respond in a competitve way: who has it worse?!

All other responses focused on helping the OP. I am pretty sure people don't respond to your threads by pointing out how your suffering is nothing because they have it worse

 

[CrazyFrog]

It is the second time I see you respond in a competitve way: who has it worse?!

All other responses focused on helping the OP. I am pretty sure people don't respond to your threads by pointing out how your suffering is nothing because they have it worse

You are a great human being.

 

[NothingElseMatters]

It is the second time I see you respond in a competitve way: who has it worse?!

All other responses focused on helping the OP. I am pretty sure people don't respond to your threads by pointing out how your suffering is nothing because they have it worse

nice,i'm glad i don't give a fuck about your opinion.

 

[FuneralCry]

That sounds very awful what you are going through, I can imagine that it must be very stressful. I hope you find a way to reduce your suffering in whatever happens.

 

[ornitier199]

I know how it feels to lose so much money and wanting to CTB. It's is a valid reason in itself.
$7500 in 2020, $3500 in 2021.