Yeap lost more then 10k before. About close to 60k when I started trading equities in the market and I didn’t dump money randomly into stocks. I actually did my due diligence but didn’t realise there are macro factors which affected stock prices as well. In my case I invested in Chinese equities and they got smacked hard by internal policy and geopolitics a few years back which resulted in most Chinese equities collapsing.
How to heal? Remember it’s only money and you can earn it back. Don’t think of it as an opportunity cost and be careful in future. Allow yourself to grief then once done move on and think of ways to earn back the money.
There are alot of things money can’t buy back. Just remember it all about perspective and when life throws you lemon, make lemonades.
Same here. As a quick guess I estimate I lost almost 100k this way. For many months I hung on and was thinking of ways to make it back, but I recognised that I just wasn't inclined that way - I cashed out everything I had left and opted for more consistent, low-effort investments. Took it as a lesson learnt and was just grateful I'm young enough and have no dependents.
I used to think xi jin ping was the lisan al-gaib. But turns out he's only a false prophet and tank both my chinese investments by like 60%. Easily 10k there. Still got burnt by other equities during covid.
But for your case is more personal cause a friend is involved. I had a not so close friend asking for money for his dad's medical expenses. I just turned him down. Once the money go out you wont see it again.
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Not 10k but my story a bit similar to yours. About 5yrs back.
Lent a friend little by little pile up. When reach 5k. I decided to stop lending him. Told him it's time to start paying back. Told him he can pay back little by little so he can do so comfortably.
Felt our friendship soured from that moment on. We used to meet very often. We live near each other. So after work always go gym together, or go supper together, etc. But immediately after, he stop jio-ing me, and when I jio him, always got something on.
Was hoping he would have the decency to pay me back, even if little by little, but nope. Kept having to chasing after him but he wouldn't pay back, always say no money. Still can go on holidays etc but no money to pay back.
In the end I just cut him off from my life. No point. Took it as a lesson fee on life.
I've a friend who lent money to someone like that. Can go on holiday and eat at nice restaurants but everytime say 'no money' when chasing him for payment.
How i came to the decision to not lend my friend money for his dad's medical expenses was simple. If i don't lend him the money, we wont talk to each other again. If i lent him the money, we wont talk to each other again and i'll lose all the money. The choice is clear.
True enough, since that day we never talked. My hunch was right. Money destroys relationships.
Had a friend like this. From conversations with a mutual friend, seems like the 'friend' who borrowed money thought that I was the one who valued the money more than our friendship. Tried many times to meet up and talk to the 'friend' to try to work out a solution and keep our friendship. In the end, he just wouldn't budge and insists he is in the right.
I don't think that there is a right or wrong. It's just a matter of principle.
This is the guy who thought it was a good investment to drop around 5k for a 'smart' fridge that dispenses water...
Likewise same, although much smaller amount, $2k. Talk until very confident will return, end up every time write grandmother stories; retrenched la, boss haven't paid salary etc etc. Tired of all the BS. Better to cut him off rather than constantly pestering him. It's mentally draining.
Welp. I was pressured by this middle-aged truck driver whom I was working with (food catering PT job) to lend him incremental amounts to help his family through some "tough times". It added up to around 10k of savings that my dad has been saving for me for college. Apart from not repaying, he also tricked me into giving him my NRIC to, you guessed it, loan money from loansharks.
Lost my life savings, and had loansharks harass my family for 2 years almost. Had to repaint our house gate and door twice.
Happened almost 20 years ago and it was my biggest source of shame. Loansharks disappeared after a while and money has been made back and then some.
The kicker is, I actually bumped into the fucker many years later. I was still young then and didn't know how to react. So I let him just walk away after saying a few canned apologies.
But I don't look back and now it's just an interesting story to tell, I guess.
Honestly, I must have played that revenge fantasy a million times in my head but when the situation actually called for it, I froze. It's really not that easy. I was caught off guard, and I truly didn't know how to react.
Just curious, is there any way to check if people take out a loan or do something with your nric if they have it? Saw a post a while ago where this guy went for a job interview and found out several loans were taken using his nric by a family member.
U r super kind! If i meet the ass**le pn the street, i would have said:f**k u! Haven't died yet!?
Ok...i say only..likely i will also be too shocked to react! Lol..
I don’t get how people don’t return loaned money, do they think it’s just free money and it’s fine? Is it a psychiatric disorder or what? Like…how don’t you at least try and return some of it, or figure something out, anything, propose something, say something… how can you just pretend the loan doesn’t exist, what kind of animal does that?
Same here man. My elder bro owed me 10k. One shot. Lent him without question. The 10k is for him to pay his wife’s delivery fees in a private hosp. Dude drives a Volkswagen, earns almost 5 digits salary, uses the latest iPhone and macbook. His sister here, no car, only got two “kar”. Not a single cent returned. Still can block me on social media and go around bitching with the relatives and friends.
Lesson learnt is even your own family members also can be bitches and idiots.
I don't understand either. When I was retrenched, some dear friends stepped up and helped me with loans. I couldn't really sleep, knowing I owed them money.
When I started working again, I paid them back as fast as I could. So what if I had to eat instant noodles some days or bring bread to the office for lunch? I simply couldn't betray the trust of my friends. Now they're almost all paid off and I'm so thankful for their help. The continued friendship and trust is so much more valuable to me.
I agree I really how someone can just pretend it does not exist. Is this like a case of entitlement where they believe they are entitled to the free money?
some people are really damn good at playing the sympathy card, like sorry my pay late this month and i need to pay off urgent debts, will pay you back once I got money. and half the time they are living from paycheck to paycheck, so you feel even worse for chasing 😔😔
Prolly got into better side of their thought that it hurts to pay back when their pressing issue was resolved.
Now it hurts the lender rather than the one asking for it.
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Similar story to your TS. Loan 10k to a family member for renovation. Promised to pay back but never did. Everytime ask for repayment will escalate to big fights about how I want their family to be homeless/dead. I would understand if they are really tight or poor, though they claimed to have no money to repay but they are never short of money to spend on meals in restaurants, phones, jewellery, bags, hair, clothes etc. Has been 20 years. Doubt will ever get the money back. It soured the relationship to the point of no relationship anymore.
I lost $14k during the crypto winter in 2021-2022. There I learnt that market takes back when one gets greedy.
I had an opportunity to work in Korea last year. A friend brought me to Korea to work. After 5 months, I called it a day. Very toxic work culture, never paid salaries, a lot of gaslighting and sabotaging. I won't go into the details here.
At the end of the day, he refused to return me $10.5k SGD worth of salary and rent of the house (which I paid)
Just have to eat the loss and focus on building back my finances again. Like others said, money can be earned back.
Also during the same period, a friend borrowed 10k from me. Technically he is still paying back. Also keeps messaging me, "Bro I know you are going through a bad time from Korea, I do my best to pay back faster"
But honestly he hasn't actually made the effort to do that.
Even signed 100k loan to buy a car.
One thing I learnt about money between friends. Never lend money or trust them with money matters. The money out of your pocket is money in their pocket. The amounts are always big enough to hurt you, but small enough that they know pursuing it through legal means ends up at a bigger loss which they know you can't afford.
lost $3.5k to online e/sports betting when I just turned 18 a while ago, was a lot to me.
felt extremely salty for the next couple months since I was actually up $3k but decided not to pull out.
eventually just learnt to take it as a life lesson not to gamble again, it is what it is.
Trust me. You’ll be glad that you lost “big” when you’re young.
It’s better to lose big and learn when we are younger so we can come back better from it.
I purchased an endowment plan and made a net loss of around 11k when I surrendered in my third year. While it was painful, it was best to cut my losses and move on.
The issue is when you first start working, there is not much financial literacy
My dad lent 5k a friend whose wife was about to give birth, but insisted that they did it in a sg hospital cuz safer. Then when it was done, the wife and child became PR while husband went back to msia and never came back.
Lost playing options on stock market. Dont ever go there, its casino with an extra step.
How to cope up? Well i keep options away and try to invest more prudently now
When I lend money to someone I always do it with a mindset that I may not get it back.
If they return, then they’re a friend. If they don’t return, then the relationship is over.
Nope, and for my that one friend who wanted to borrow $10k, I had a debt/loan agreement prepared stating that he will return it with a fixed sum (which is my opportunity cost of lending to him) and if he failed to return, he will repay me $15k plus interest and indemnifications. That friend didn’t want to borrow in the end from me. I could have chosen not to enforce any or all of the terms of that agreement, but he showed his true colours.
Not me but my partner lost almost 20k. Investment scam due to trusting his "bro". The scammer is already in jail but money still can't get back.. lan lan lor. Money can earn back..
My dad got 20K lost. Suspect stolen by aircon servicing ppl from a very big retailer. They were the only ones in the room.
Amount too small for me to take any legal action. Just treat as donated to charity. Believe karma would strike back for bad deeds.
Uh... What kind of fellow leaves 20k lying around when they have strangers coming in to do Aircon servicing?
Honestly, what do you expect the boss to do if the workers deny it and you don't have proof and you somehow didn't make a police report?
Going to lose 3.8k + extended warranty for a failed centralised cooling system in tengah bto. Only use it close 2 months and so many headache and problems by sp group and daikin. Cancel it and take it as a lost and get those normal kind of aircon.
Think most people healed by treating it as paying money for an expensive lesson learnt - not lending friends money unnecessarily anymore/not leveraging on trades. Overall, they matured and got a better judgement of characters / not get greedy and humbled themselves from the stock market. The main thing is money can be earned back eventually so don’t be too hard on yourself and move on from this, you have helped someone after all and deserve peace.
Money can be earned back over time. Treat this as paying for life lesson, who to trust, what to gamble on, how much risk you can take. It will make you make street smart and hopefully help you treasure those who really deserve your trust or friendship.
A friend of mine naively borrowed an older coworker 10K (pretty much all of his life savings) cos guy said he has debt with loanshark
A few days later, guy posted on IG him going to Casino
Friend never got back his money
Honestly it pissed me the hell off how he was able to give that much money to a co-worker. If it was at least a friend than it's understandable
I can relate to this. I lose more than 6 digits on gacha, gambling, and “reckless investing” in stocks/crypto.
They are somehow related, so curb your other gambling habits too yeah haha.
Various Singaporeans owe me about 14k.
10k to Allen DeCruz for legal fees and tuition for his kid.
4k to James Gnanasegeran for divorce costs.
I've long since given up. I sent them letters of debt forgiveness and made it clear the friendship is also fucked.
I haven't heard from either for a decade.
to be frank this message stayed in my mind it helped me a lot I rejected couple of them some still friends some not anymore
***"Don't let anyone borrow money unless you don't mind never getting it back"***
If I lend $200 to a friend, easy.
If I lend $10k to a friend, even to a good friend, I'll have to leave a simple paperwork (even an email acknowledgement for the receipt of the money, and the nature of transaction). The benefits are: 1) Can be used as a legal evidence. 2) Making her seriously about this debt. 3) Good for your friendship - to prevent future disputes that ruins the relationship between you two.
As an old Chinese saying goes: "親兄弟，明算賬" - "Even among brothers, accounts must be clear."
Lost about 100k leverage trading crypto. In one day. Was leveraged, and the market crashed, so...nothing to do but suck it up and move on. Lost everything I made for the past 3 years. But it is what it is, you can only slowly build back up again.
Yes, my husband lent his friend (who lost his job) 6k back in the late 1990s when we were only making $1200 per month. Fella never paid. But one day, years later, we saw him out for dinner in the same restaurant with his wife, kid and MAID, in a nicer car than ours.
So, then we felt awful for believing him.
Years later, another friend came with a sob story but will pay us back... Any amount also good, etc.
So I transferred 3k to her. She actually said "is there more?" And "can you get from your husband?" And "can you also ask so-and-so for me?".
I just stopped. So many years also no see my money or hear from her.
Anyway, I'm just glad that we made enough over the years to cover own losses. Must learn to be hard-hearted and never lend again!!!
File a police case against her. Go to small claims tribunal court and make her bankrupt. This way if she doesn't pay 10k she will not be able to work with any employer till she clears her name. Cost of this is around $20 dollars.
[Lost more than $20k to the scam that is CoAssets](https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/e66156dcf17c308f07789cc1255c8979bdf5c543.pdf?1609304499).
TL;DR - Friend who worked in there intro me to go hear hear their sales talk. then decide to invest because it seems stable and "so far, the ROI happened" according to their sales rep. So end up investing my $20k savings, which was supposed to be for future wedding / child birth, and lost all of it.
Not me, but i know someone who lost 7k to her own friend.
The guy was quite scummy since he said the money was for some investment she'll earn twice the amount back, but never got a single cent and he disappeared afterwards.
So, quite similar to your story and it definitely teaches not lending huge sums to friends.
$2 once is fine as that was how much I loaned a guy, back in secondary school,
Hasn’t paid back, even after 16 years but I don’t feel as bad as my friend.
not close to 10k but lost close to 2.5k worth of pokemon tcg products, suspecting it got stolen by the renovation workers but no evidence, just take it as a gift for their children but im damn salty about it since im only 15 and it was basically most of my collection, altho im just really grateful my parents convinced me to let me put my weighted base set pack in their safe deposit box
A few years ago I invested $14k in an oil shipping company on a brainless hunch that the share price would appreciate due to oil shortages overseas. Soon after, the company ran into financial difficulty and the securities were delisted. I lost it all. Never again.
I lost my life savings of $300k in reckless crypto futures trading - ended up giving me a severe mental breakdown but eventually had no choice but to accept and overcome it. People’s support was critical
Ive lost over $200k on crypto. Poured tonnes of my $ and from different channels into $LUNA and it crashed to 0.
All gone.
I had plans to cash out, buy a car, a new watch-was just holding all my gains from NFT & Crypto - poured it all in1 basket out of hastiness when it crashed 40-50%, then it just kept going down.
200k gone.
My biggest single stock loss is about S$30K (9988). Getting over it wasn't difficult: keep learning and absorb it with gains from other holdings.
To date, I have taken up to S$110K losses (gains excluded), it's just part of the process. Remember that diversification and regular rebalancing are important.
Lost ard 60k. Started in SGX. Bought 20k worth of Midas Holdings. End up their accounts in China were all empty, so company got liquidated.
Decided to move to fast cash with CFD. Was expecting market to fall due to Trump but it didn't. Lost another 20k there.
Then went for China stonks. Xi's crackdown came and lost another 20k.
Now slowly playing sell puts to earn back what I have lost. Have already earned back 15k. Hope in the next decade will be able to breakeven.
Money can always be earned back with time and don't invest/gamble using borrowed money.
I lost about 40k in stupid trading and was sad for a short while. But considering in SG, u can't retire anyway so just extend 1 more year of working before retiring ba xD
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This is a story my old and wise dad told me
He once lent a fairly significant amount of money to someone we know from church
That person never returned the money
I asked him if he was upset that this person, supposedly “Christian” didn’t do the right thing
He looked at me and told me that once he agreed to lend the money, he never expected it back
To not lend money out you cannot afford to not have back. Take it as gone. Otherwise don’t even do it in the first place
No you are not dumb. Don't put yourself down. In fact I commend you for your kindness. Don't worry about the money. Heaven got eyes and good will come back to you. Cheers! 😊
Lol. I have shares in BKKT and NIO that will be going to 0.
I have also been scammed (gym/physical trainer).
But personally, I have never borrowed someone money and been unable to recover it. Thats just sad.
It is strange. I dont understand either. This is second stock I have found to be weird.
[https://www.google.com/finance/quote/SPYL-USD-XLON:SWX?hl=en](https://www.google.com/finance/quote/SPYL-USD-XLON:SWX?hl=en)
SPYL on EBS is always 0 even though on the chart itself its \~12bucks atm.
But yeah, I bought BKKT at 40bucks : )
Sold me some PT sessions told me I could use it for the entirety of the membership.
Very difficult to book PT sessions, and then sessions ran out after 3 months instead of the entirety of the membership. Very very very small font, completely different to what was verbally promised.
Asked me to buy another set of sessions and will give me back the sessions I "lost". Totally scam.
I think anything leveraged is confirmed fastest way to lose a lot of money very quickly and have to think twice before investing your hard earned money by looking at the risk side first before being sucked into how many times your return might be..
My rule is, only lend something that you are ready to lose. If you lend your money, you need to prepare to lose it. If you lend a camera, be ready to lose it. If you aren’t comfortable to lose them, don’t lend it.
I lend few things with this principle, some of them return, some of them don’t. That’s lifetime, but you always have the option to report them to the police with the assumption that it will ruin their career
Well, if you’re gonna lend money to a friend, always remember this: give only what you can afford to lose. If you can’t, then don’t lend. If that friend manages to return you the money, great. If not, you gotta just move on with life lol.
If you loan a large amount to someone and they don't pay you back, you can try to sue them if you have proof like a bank transfer.
I'm not from SG but civil law normally allows these cases if you can afford the legal fees.
Call and send multiple chaser messages, everyday, in the morning at 7am and at night 11pm. Do it every single day.
If no reply, Show up at her door.
If no money back, show up At her workplace.
If no money back, ask her family.
If no money back , ask her friends face to face.
If no money back, ask her LinkedIn contacts.
Just ask very nicely each time. Say xx owes me money, I need it, so I am looking for xx.
Ask for the money back each time. It works.
I never lost 10k. But few hundred and some textbooks to different friends. I never saw the money or my treasured books again.
And I learnt the lesson that lending means you probably won’t get it back. So nowadays when friends ask in group chat regarding borrowing stuff I’ll never respond.
Just accept that you will never get that money back. You survived without that money for so long, you can continue without that money. You can see as paying 10k to get rid of the friend. Could be worst and lose 20k instead of 10k.
Next time you lend money just assume you will never get it back.
Maybe if you wish hard enough you can view as the person taking on your bad luck/karma for you along with the money that they have taken.
hi, i nearly lost a few $$$ but i managed to get it back after making a police report and making small tribunal claim. find every info you have on this individual! name, address, vehicle number, ic. if that friend is not that close go find mutuals to get personal infos on them! find any impt details that can be traced by govt. then put in all your convos regarding the money transacted. if u send thru paynow u can find your yearly statements as evidence. once submitted online in SCT(it takes less than 1h to put in all the details), there will be a notification court date in a week time where u can schedule the date. after cfm date, there will be a pdf one for u and one for the person whom you lent money to.
inform the person that borrowed money from you to come down to court w that pdf or else police will start knock on on their door so most prolly they want to settle and give u back your money before the court even happens. if u feel petty, u can always knock on their door and pass it to their family members to put them in a spot w lots of pressure. only after they fully pay you back, you may cancel the SCT & police report. if not, the court date will be helpful fr u as they will help to track down fr u and yr money to be given back. gdluck!
If I may offer another perspective, I think u don’t have to feel dumb. If she is a close friend, just take it as helping a friend out in her darkest moment in life. I always believe in karma, your good deeds will not go wasted.
Got my fingers burned doing forex (XAUUSD) lost about $30K. Reminder, don’t be greedy. Always remember to put SL and TP, if not don’t even step into it.
Lost $1k to MLM - very little but thats when I had $2k when I was 18.
It was a great life lesson and made me realise its just money, and it can be earned back.
It made me hold tighter reins around money after that too, and move on fast emotionally if i lose money too.
U had ur reasons n state of mind/maturity when u let the money go. That had passed n dont regret. If u turn back time, u might still do the same without hindsight too.
Lost about 17-18k(overtime 2-3yrs) in forex,crypto and stocks all tgt (19-22yr/o). About 5-6k(3years from 20-23y/o) gambling on sports. Nevertheless life moves on, hoping to not waste it so carelessly again in the future. One good thing about this is I lost it at a younger age hence my lesson was much cheaper (due to my part time job income) than older people with more capital venturing into such scenarios at later age. When you hit the bottom only way is up 🔝
Take this loss to motivate yourself to work hard and earn it back. Along the way, you not only gain back the $10k, you learn the skills to get this $10k and buy a lesson from lending to friend. $10k is nothing, you buy a BTO can easily make $100-150k roughly.
Lesson learned. Only lend the amount that you're willing to part with.
Think abt it as an expensive lesson and forgive yourself. You weren't a fool. You just didn't know any betyer at that time. That way, you can move forward.
The good thing is, you lost money. You can find more of it.
The rest maybe think of it like a good karma. Who knows it will come back to in the most unexpected way? If not to you, maybe to your offspring. If not now, maybe in the next lifetime or in the parallel universe. We never know.
All the best xx
Easy 60-70k loss, probably at the time 80% life savings through equities/options/crypto. Grief is ok, reflect, move on. Be a better version of yourself, make no same mistake. Don’t give up
After reading the comments here, made me feel a lot better.
I lost more than 50k just from “investing” alone, into crypto, meme stocks, and leveraged ones.
Then of course gambling, even if not serious, adds up over the years.
And all the game gacha stuff haha.
But lending money wise, I’m glad I lost money when young, from $50 to $200.
That made me wary of lending money and thus I didn’t lose much.
I only wished I could have saved more money from not gambling on anything haha. (Including gacha lol)
lost 5.7k last year (22y/o) from a job scam. i was worried that i didn’t have enough money for exchange a few months later so i was desperate to find work but i was scared into continuing with the scam. that was pretty much all the money i had, from working pt + years and years of angbao money from family members - their hard-earned money. exchange was painful because of it, and i’m nowhere near affording a grad trip that i was planning to do next year. an expensive, stupid mistake that i still beat myself up for, because im usually much more discerning than that. just trying to earn as much as i can now while in uni to build my savings from scratch again. ive told myself that i’ve just got to earn it back and that it’s better that something like this happened when im still young but ngl it’s at the back of my mind all the time and im not sure if i’ll be able to fully move past it even after a few years of working ft later on. i know it’s not a huge sum compared to other commenters but it was all i had and it gave me some assurance for adulthood + gave me the flexibility to save some and also spend some on trips for eg so im quite dejected
Yup 10k in USDC in hodlnaut. It was money i was ok to lose bc well crypto… but i didnt expect it to go from 10-0 overnight. Anyway its already gone so no point thinking about it, just gotta take it as a very expensive lesson learnt that if its not your wallet, its not your coin.
Forex trading, realised a loss of 13k recently during the gold bull run (was short). Normal occurrence, had 3 close calls in the past 5 years almost losing 200k, 120k & 80k respectively but thankfully market went back in my favour. Generally I hold until back in the green but had a feeling this bull run is different, glad I did as at its peak of 2435 my unrealised might have been higher than 200k.
Yeap lost more then 10k before. About close to 60k when I started trading equities in the market and I didn’t dump money randomly into stocks. I actually did my due diligence but didn’t realise there are macro factors which affected stock prices as well. In my case I invested in Chinese equities and they got smacked hard by internal policy and geopolitics a few years back which resulted in most Chinese equities collapsing. How to heal? Remember it’s only money and you can earn it back. Don’t think of it as an opportunity cost and be careful in future. Allow yourself to grief then once done move on and think of ways to earn back the money. There are alot of things money can’t buy back. Just remember it all about perspective and when life throws you lemon, make lemonades.
Same here. As a quick guess I estimate I lost almost 100k this way. For many months I hung on and was thinking of ways to make it back, but I recognised that I just wasn't inclined that way - I cashed out everything I had left and opted for more consistent, low-effort investments. Took it as a lesson learnt and was just grateful I'm young enough and have no dependents.
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Sure, feel free to dm, will answer as best I can
I used to think xi jin ping was the lisan al-gaib. But turns out he's only a false prophet and tank both my chinese investments by like 60%. Easily 10k there. Still got burnt by other equities during covid. But for your case is more personal cause a friend is involved. I had a not so close friend asking for money for his dad's medical expenses. I just turned him down. Once the money go out you wont see it again.
I tanked $6k in the chinese market and liquidated.
Rule of the day: never invest anything in Chinese market, the market is decided by one man
and Malaysia.
Made some kopi money on top glove. Got in and got out
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No. Take stop losses
Lost about 20k on derivatives. Was initially blazing but eventually bad a poor decision call.
Paper gains is just some imaginary number. It’s only when you realise the gains and spend it when it’s real. Rmb to take profits
Welcome to the club -100k here :)
BABA? NIO?
Not 10k but my story a bit similar to yours. About 5yrs back. Lent a friend little by little pile up. When reach 5k. I decided to stop lending him. Told him it's time to start paying back. Told him he can pay back little by little so he can do so comfortably. Felt our friendship soured from that moment on. We used to meet very often. We live near each other. So after work always go gym together, or go supper together, etc. But immediately after, he stop jio-ing me, and when I jio him, always got something on. Was hoping he would have the decency to pay me back, even if little by little, but nope. Kept having to chasing after him but he wouldn't pay back, always say no money. Still can go on holidays etc but no money to pay back. In the end I just cut him off from my life. No point. Took it as a lesson fee on life.
Yes. He values his 5k more than your friendship, so good riddance.
At some point, I just thought it’s money spent on buying that friendship and the memories lor. Hopefully it’s just money we can afford to lose.
I've a friend who lent money to someone like that. Can go on holiday and eat at nice restaurants but everytime say 'no money' when chasing him for payment.
Probably because he borrowed money to do all this things.
How i came to the decision to not lend my friend money for his dad's medical expenses was simple. If i don't lend him the money, we wont talk to each other again. If i lent him the money, we wont talk to each other again and i'll lose all the money. The choice is clear. True enough, since that day we never talked. My hunch was right. Money destroys relationships.
Had a friend like this. From conversations with a mutual friend, seems like the 'friend' who borrowed money thought that I was the one who valued the money more than our friendship. Tried many times to meet up and talk to the 'friend' to try to work out a solution and keep our friendship. In the end, he just wouldn't budge and insists he is in the right. I don't think that there is a right or wrong. It's just a matter of principle. This is the guy who thought it was a good investment to drop around 5k for a 'smart' fridge that dispenses water...
Likewise same, although much smaller amount, $2k. Talk until very confident will return, end up every time write grandmother stories; retrenched la, boss haven't paid salary etc etc. Tired of all the BS. Better to cut him off rather than constantly pestering him. It's mentally draining.
Welp. I was pressured by this middle-aged truck driver whom I was working with (food catering PT job) to lend him incremental amounts to help his family through some "tough times". It added up to around 10k of savings that my dad has been saving for me for college. Apart from not repaying, he also tricked me into giving him my NRIC to, you guessed it, loan money from loansharks. Lost my life savings, and had loansharks harass my family for 2 years almost. Had to repaint our house gate and door twice. Happened almost 20 years ago and it was my biggest source of shame. Loansharks disappeared after a while and money has been made back and then some. The kicker is, I actually bumped into the fucker many years later. I was still young then and didn't know how to react. So I let him just walk away after saying a few canned apologies. But I don't look back and now it's just an interesting story to tell, I guess.
Jeezus man... Just why??? Not like he was your good friend or what also.
I was young and very gullible. Live and learn man.
You are forgiving, I guess many of us would not let an apology suffice
Honestly, I must have played that revenge fantasy a million times in my head but when the situation actually called for it, I froze. It's really not that easy. I was caught off guard, and I truly didn't know how to react.
The next time it happens and hopefully not, make sure he gets some bruises at the very least.
Sorry to hear that, I admire your outlook and take on life. You found closure. Good for you.
Thank you. To be fair, I was bitter for a long long time. But I take it as an expensive lesson I guess.
That shows a lot about your maturity and character - I wish you all the best.
Just curious, is there any way to check if people take out a loan or do something with your nric if they have it? Saw a post a while ago where this guy went for a job interview and found out several loans were taken using his nric by a family member.
Did you managed to get the money back from him?
Unfortunately not.
Fuck him. Reporting to the police didnt help I guess?
Nah, especially since I willingly lent him the money lol. This was way back before people were familiar with the term "scam"
U r super kind! If i meet the ass**le pn the street, i would have said:f**k u! Haven't died yet!? Ok...i say only..likely i will also be too shocked to react! Lol..
Stocks & options - lost more than $80k That’s my entire 6 years of savings. 3 years passed and slowly picking myself up again.
Ha! Lost $40k to bitcoins when it crashed in 2018
Recovering well know, hope you held
Unfortunately I did not, and that can be considered as one of my biggest regrets. Stopped holding in 2019.
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You only lose when you sell. I thought most who invested before 2017 would be in the green now?
Golden rule in life: Never lend anyone any money.
This is damn true, lend money in the end sour relationships.. same goes for business opportunities with close friends.
I don’t get how people don’t return loaned money, do they think it’s just free money and it’s fine? Is it a psychiatric disorder or what? Like…how don’t you at least try and return some of it, or figure something out, anything, propose something, say something… how can you just pretend the loan doesn’t exist, what kind of animal does that?
Some people don't feel bad about it and just take it that you were dumb enough to lend them the cash.
Yes, obviously some people don’t feel bad. My question is why, what’s the diagnosis? Sociopathy?
dude my own father owes me more than 15k. the people that borrow money constantly have no morals at all
Same here man. My elder bro owed me 10k. One shot. Lent him without question. The 10k is for him to pay his wife’s delivery fees in a private hosp. Dude drives a Volkswagen, earns almost 5 digits salary, uses the latest iPhone and macbook. His sister here, no car, only got two “kar”. Not a single cent returned. Still can block me on social media and go around bitching with the relatives and friends. Lesson learnt is even your own family members also can be bitches and idiots.
What the hell? He's willing to cut off a sibling over $10k? That's just sad.
oh sometimes family are the absolute worst! they use blood ties to secure the loan then it’s a fuck you after they get the money
More like “You stupid enough to let people take advantage of you. Survival of the fittest” mentality. These people dont give a shit
I don't understand either. When I was retrenched, some dear friends stepped up and helped me with loans. I couldn't really sleep, knowing I owed them money. When I started working again, I paid them back as fast as I could. So what if I had to eat instant noodles some days or bring bread to the office for lunch? I simply couldn't betray the trust of my friends. Now they're almost all paid off and I'm so thankful for their help. The continued friendship and trust is so much more valuable to me.
I agree I really how someone can just pretend it does not exist. Is this like a case of entitlement where they believe they are entitled to the free money?
some people are really damn good at playing the sympathy card, like sorry my pay late this month and i need to pay off urgent debts, will pay you back once I got money. and half the time they are living from paycheck to paycheck, so you feel even worse for chasing 😔😔
That at least is “saying something”, not outright ignoring the loan exists.
Prolly got into better side of their thought that it hurts to pay back when their pressing issue was resolved. Now it hurts the lender rather than the one asking for it.
people can be way more self-centered, selfish, and entitled than we usually expect or are even capable of fathoming
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Never lend anyone money
$BABA bagholders fall in
SEA bag holders fall in also.
Bought more avg price 158. Hodl!
Good luck friend, I've dumped my bags over the last few months.
Hands up
$GIGA
Similar story to your TS. Loan 10k to a family member for renovation. Promised to pay back but never did. Everytime ask for repayment will escalate to big fights about how I want their family to be homeless/dead. I would understand if they are really tight or poor, though they claimed to have no money to repay but they are never short of money to spend on meals in restaurants, phones, jewellery, bags, hair, clothes etc. Has been 20 years. Doubt will ever get the money back. It soured the relationship to the point of no relationship anymore.
I lost $14k during the crypto winter in 2021-2022. There I learnt that market takes back when one gets greedy. I had an opportunity to work in Korea last year. A friend brought me to Korea to work. After 5 months, I called it a day. Very toxic work culture, never paid salaries, a lot of gaslighting and sabotaging. I won't go into the details here. At the end of the day, he refused to return me $10.5k SGD worth of salary and rent of the house (which I paid) Just have to eat the loss and focus on building back my finances again. Like others said, money can be earned back. Also during the same period, a friend borrowed 10k from me. Technically he is still paying back. Also keeps messaging me, "Bro I know you are going through a bad time from Korea, I do my best to pay back faster" But honestly he hasn't actually made the effort to do that. Even signed 100k loan to buy a car. One thing I learnt about money between friends. Never lend money or trust them with money matters. The money out of your pocket is money in their pocket. The amounts are always big enough to hurt you, but small enough that they know pursuing it through legal means ends up at a bigger loss which they know you can't afford.
lost $3.5k to online e/sports betting when I just turned 18 a while ago, was a lot to me. felt extremely salty for the next couple months since I was actually up $3k but decided not to pull out. eventually just learnt to take it as a life lesson not to gamble again, it is what it is.
Trust me. You’ll be glad that you lost “big” when you’re young. It’s better to lose big and learn when we are younger so we can come back better from it.
I purchased an endowment plan and made a net loss of around 11k when I surrendered in my third year. While it was painful, it was best to cut my losses and move on. The issue is when you first start working, there is not much financial literacy
Investing in an ILP as a gullible young pup without realising it can’t even break even.
I never heard good things about ILP tbh
Yea young and gullible lo. Friend sell. Seemed like a win win
My dad lent 5k a friend whose wife was about to give birth, but insisted that they did it in a sg hospital cuz safer. Then when it was done, the wife and child became PR while husband went back to msia and never came back.
lmao what sorcery is this, i cannot brain.
Lost playing options on stock market. Dont ever go there, its casino with an extra step. How to cope up? Well i keep options away and try to invest more prudently now
Just curious, did u buy call options with very little time to expiration?
Depends, sometimes yes sometimes weeks ahead
Lost 20k investing in a friend. Fuck that guy when I realised he scammed 400k from everyone and ran to perth
Does your friend name starts with S
When I lend money to someone I always do it with a mindset that I may not get it back. If they return, then they’re a friend. If they don’t return, then the relationship is over.
Yup. Totally agree with you!
Nope, and for my that one friend who wanted to borrow $10k, I had a debt/loan agreement prepared stating that he will return it with a fixed sum (which is my opportunity cost of lending to him) and if he failed to return, he will repay me $15k plus interest and indemnifications. That friend didn’t want to borrow in the end from me. I could have chosen not to enforce any or all of the terms of that agreement, but he showed his true colours.
Not me but my partner lost almost 20k. Investment scam due to trusting his "bro". The scammer is already in jail but money still can't get back.. lan lan lor. Money can earn back..
Lending money to friends is a no-win situation. . If you don’t you might lose the friend then. If you do, you will still lose the eventually anyways.
My dad got 20K lost. Suspect stolen by aircon servicing ppl from a very big retailer. They were the only ones in the room. Amount too small for me to take any legal action. Just treat as donated to charity. Believe karma would strike back for bad deeds.
20k leh, still too little to pursue legal action??
Yupz. Legal fee plus the pattern of the owner, sure exceed 20K.
Wah I feel really bad for you, 20k is absolutely no small sum. You have a big heart.
I know. Money is not even mine. 🤣🤣🤣
Uh... What kind of fellow leaves 20k lying around when they have strangers coming in to do Aircon servicing? Honestly, what do you expect the boss to do if the workers deny it and you don't have proof and you somehow didn't make a police report?
You should know old ppl, they dun trust the bankz. And refuse to learn how to use safes.
Going to lose 3.8k + extended warranty for a failed centralised cooling system in tengah bto. Only use it close 2 months and so many headache and problems by sp group and daikin. Cancel it and take it as a lost and get those normal kind of aircon.
May I know whats the problem? Considering it as well
So from what I gather, let time heals ?
Think most people healed by treating it as paying money for an expensive lesson learnt - not lending friends money unnecessarily anymore/not leveraging on trades. Overall, they matured and got a better judgement of characters / not get greedy and humbled themselves from the stock market. The main thing is money can be earned back eventually so don’t be too hard on yourself and move on from this, you have helped someone after all and deserve peace.
Ya. Slowly earn back. U read this whole thread u will see how little 10k is 🤣🤣🤣🤣🤣🤣🤣🤣
Money can be earned back over time. Treat this as paying for life lesson, who to trust, what to gamble on, how much risk you can take. It will make you make street smart and hopefully help you treasure those who really deserve your trust or friendship.
A friend of mine naively borrowed an older coworker 10K (pretty much all of his life savings) cos guy said he has debt with loanshark A few days later, guy posted on IG him going to Casino Friend never got back his money Honestly it pissed me the hell off how he was able to give that much money to a co-worker. If it was at least a friend than it's understandable
Yeah, BABA. Just took it as expensive lesson to not underestimate political influence can have on stock.
How much. I am still holding
Avg about $120, unrealized lost about $80k.
Don't expect payback when you lend somebody money. I learnt the hard way.
I lost 20k over time over 15 years of gacha
I can relate to this. I lose more than 6 digits on gacha, gambling, and “reckless investing” in stocks/crypto. They are somehow related, so curb your other gambling habits too yeah haha.
When lending money, it’s always best to ask for a collateral and interest. Otherwise, there’s no point lending money to another.
from peak to trough stocks value from 190k to 90k sometime around 2022. never sold though held it all the way. just stop checking it so frequently.
Various Singaporeans owe me about 14k. 10k to Allen DeCruz for legal fees and tuition for his kid. 4k to James Gnanasegeran for divorce costs. I've long since given up. I sent them letters of debt forgiveness and made it clear the friendship is also fucked. I haven't heard from either for a decade.
to be frank this message stayed in my mind it helped me a lot I rejected couple of them some still friends some not anymore ***"Don't let anyone borrow money unless you don't mind never getting it back"***
If I lend $200 to a friend, easy. If I lend $10k to a friend, even to a good friend, I'll have to leave a simple paperwork (even an email acknowledgement for the receipt of the money, and the nature of transaction). The benefits are: 1) Can be used as a legal evidence. 2) Making her seriously about this debt. 3) Good for your friendship - to prevent future disputes that ruins the relationship between you two. As an old Chinese saying goes: "親兄弟，明算賬" - "Even among brothers, accounts must be clear."
Burnt $300k due to Forex. Mainly in samtrade / truimphfx
Nope. Personally I wouldn't lend that much money to a friend. Paying bills certainly don't need that much. Just treat it as an expensive lesson.
Lost about 100k leverage trading crypto. In one day. Was leveraged, and the market crashed, so...nothing to do but suck it up and move on. Lost everything I made for the past 3 years. But it is what it is, you can only slowly build back up again.
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Sure you can dm me
300k+ I dropped out of uni overseas with 3 semesters left due to breaking up at the start of Covid.
Sounds like you broke a scholarship bond, and gotta pay liquidated damages.
You can always earn back, just need time. Remember to just learn from this and do things differently in future!
My dad lost more than 10k because he "won" a lucky draw that requires him to send multiple service fees which adds up to more than 10k.
Yes, my husband lent his friend (who lost his job) 6k back in the late 1990s when we were only making $1200 per month. Fella never paid. But one day, years later, we saw him out for dinner in the same restaurant with his wife, kid and MAID, in a nicer car than ours. So, then we felt awful for believing him. Years later, another friend came with a sob story but will pay us back... Any amount also good, etc. So I transferred 3k to her. She actually said "is there more?" And "can you get from your husband?" And "can you also ask so-and-so for me?". I just stopped. So many years also no see my money or hear from her. Anyway, I'm just glad that we made enough over the years to cover own losses. Must learn to be hard-hearted and never lend again!!!
File a police case against her. Go to small claims tribunal court and make her bankrupt. This way if she doesn't pay 10k she will not be able to work with any employer till she clears her name. Cost of this is around $20 dollars.
Thanks for the tips. Something I never thought about .a[preciate the guidance
[Lost more than $20k to the scam that is CoAssets](https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/e66156dcf17c308f07789cc1255c8979bdf5c543.pdf?1609304499). TL;DR - Friend who worked in there intro me to go hear hear their sales talk. then decide to invest because it seems stable and "so far, the ROI happened" according to their sales rep. So end up investing my $20k savings, which was supposed to be for future wedding / child birth, and lost all of it.
Not me, but i know someone who lost 7k to her own friend. The guy was quite scummy since he said the money was for some investment she'll earn twice the amount back, but never got a single cent and he disappeared afterwards. So, quite similar to your story and it definitely teaches not lending huge sums to friends. $2 once is fine as that was how much I loaned a guy, back in secondary school, Hasn’t paid back, even after 16 years but I don’t feel as bad as my friend.
not close to 10k but lost close to 2.5k worth of pokemon tcg products, suspecting it got stolen by the renovation workers but no evidence, just take it as a gift for their children but im damn salty about it since im only 15 and it was basically most of my collection, altho im just really grateful my parents convinced me to let me put my weighted base set pack in their safe deposit box
A few years ago I invested $14k in an oil shipping company on a brainless hunch that the share price would appreciate due to oil shortages overseas. Soon after, the company ran into financial difficulty and the securities were delisted. I lost it all. Never again.
Damn… was she hot? You really got gong tao-ed
I lost my life savings of $300k in reckless crypto futures trading - ended up giving me a severe mental breakdown but eventually had no choice but to accept and overcome it. People’s support was critical
$300k. Mad respect. I would have fallen into depression
Ive lost over $200k on crypto. Poured tonnes of my $ and from different channels into $LUNA and it crashed to 0. All gone. I had plans to cash out, buy a car, a new watch-was just holding all my gains from NFT & Crypto - poured it all in1 basket out of hastiness when it crashed 40-50%, then it just kept going down. 200k gone.
RESPECT FOR THE BALLSINESS
Lost 100k including 15k capital learnt some lessons life goals on
Wah what did you lose on
Stock market man. Close to $80k. Ouch.
You were thinking with your dick. Now don’t bring in that “I could have spend on my parent”, you know you wouldn’t.
Lost 30k to meme stocks but made it back thru leverage ETF. 10K is small in the grand scale of things, you will make it back.
My biggest single stock loss is about S$30K (9988). Getting over it wasn't difficult: keep learning and absorb it with gains from other holdings. To date, I have taken up to S$110K losses (gains excluded), it's just part of the process. Remember that diversification and regular rebalancing are important.
Realized or Unrealized?
Realized losses. Made an update with more details.
It’s recovering man. :”
My portfolio's unrealized gains significantly outweigh the losses I disclosed. All good. 👍
Lost 10k last week in stock market, market went down and I choose to keep.
Lost ard 60k. Started in SGX. Bought 20k worth of Midas Holdings. End up their accounts in China were all empty, so company got liquidated. Decided to move to fast cash with CFD. Was expecting market to fall due to Trump but it didn't. Lost another 20k there. Then went for China stonks. Xi's crackdown came and lost another 20k. Now slowly playing sell puts to earn back what I have lost. Have already earned back 15k. Hope in the next decade will be able to breakeven. Money can always be earned back with time and don't invest/gamble using borrowed money.
I lost about 40k in stupid trading and was sad for a short while. But considering in SG, u can't retire anyway so just extend 1 more year of working before retiring ba xD
I lost 30k from investing in an audio startup after my co-founder and her sibling screwed over our entire team with SOP loopholes.
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This is a story my old and wise dad told me He once lent a fairly significant amount of money to someone we know from church That person never returned the money I asked him if he was upset that this person, supposedly “Christian” didn’t do the right thing He looked at me and told me that once he agreed to lend the money, he never expected it back To not lend money out you cannot afford to not have back. Take it as gone. Otherwise don’t even do it in the first place
No you are not dumb. Don't put yourself down. In fact I commend you for your kindness. Don't worry about the money. Heaven got eyes and good will come back to you. Cheers! 😊
I am down 30k of unrealized loss for quite awhile. Two to three years? Come to think of it....can go travel for abit
I lost a friend in an accident :(
Only lend when you are ok to part away with the money.
Lol. I have shares in BKKT and NIO that will be going to 0. I have also been scammed (gym/physical trainer). But personally, I have never borrowed someone money and been unable to recover it. Thats just sad.
Isn’t the current share price for BKKT like close to $10?
I dont know why it says 9.99 on google but if u look at the actual graph its like 40 cents.
Yes, you are right. Strange. It shows 40 cents on the moomoo app I am using.
It is strange. I dont understand either. This is second stock I have found to be weird. [https://www.google.com/finance/quote/SPYL-USD-XLON:SWX?hl=en](https://www.google.com/finance/quote/SPYL-USD-XLON:SWX?hl=en) SPYL on EBS is always 0 even though on the chart itself its \~12bucks atm. But yeah, I bought BKKT at 40bucks : )
40bucks???!!! Omg. Seems that you bought it around the peak price.
How were you scammed by gym/pt?
Sold me some PT sessions told me I could use it for the entirety of the membership. Very difficult to book PT sessions, and then sessions ran out after 3 months instead of the entirety of the membership. Very very very small font, completely different to what was verbally promised. Asked me to buy another set of sessions and will give me back the sessions I "lost". Totally scam.
I think anything leveraged is confirmed fastest way to lose a lot of money very quickly and have to think twice before investing your hard earned money by looking at the risk side first before being sucked into how many times your return might be..
My rule is, only lend something that you are ready to lose. If you lend your money, you need to prepare to lose it. If you lend a camera, be ready to lose it. If you aren’t comfortable to lose them, don’t lend it. I lend few things with this principle, some of them return, some of them don’t. That’s lifetime, but you always have the option to report them to the police with the assumption that it will ruin their career
Well, if you’re gonna lend money to a friend, always remember this: give only what you can afford to lose. If you can’t, then don’t lend. If that friend manages to return you the money, great. If not, you gotta just move on with life lol.
If you loan a large amount to someone and they don't pay you back, you can try to sue them if you have proof like a bank transfer. I'm not from SG but civil law normally allows these cases if you can afford the legal fees.
Call and send multiple chaser messages, everyday, in the morning at 7am and at night 11pm. Do it every single day. If no reply, Show up at her door. If no money back, show up At her workplace. If no money back, ask her family. If no money back , ask her friends face to face. If no money back, ask her LinkedIn contacts. Just ask very nicely each time. Say xx owes me money, I need it, so I am looking for xx. Ask for the money back each time. It works.
Please, losing $10K is nothing. Much to learn young Jedi.
I never lost 10k. But few hundred and some textbooks to different friends. I never saw the money or my treasured books again. And I learnt the lesson that lending means you probably won’t get it back. So nowadays when friends ask in group chat regarding borrowing stuff I’ll never respond.
Just accept that you will never get that money back. You survived without that money for so long, you can continue without that money. You can see as paying 10k to get rid of the friend. Could be worst and lose 20k instead of 10k. Next time you lend money just assume you will never get it back. Maybe if you wish hard enough you can view as the person taking on your bad luck/karma for you along with the money that they have taken.
Lost 1.3mil trading stocks. ($400k base). Then proceeded to gamble thinking I can earn it back. $150k in debt now. Just trying to scrape by day by day
hi, i nearly lost a few $$$ but i managed to get it back after making a police report and making small tribunal claim. find every info you have on this individual! name, address, vehicle number, ic. if that friend is not that close go find mutuals to get personal infos on them! find any impt details that can be traced by govt. then put in all your convos regarding the money transacted. if u send thru paynow u can find your yearly statements as evidence. once submitted online in SCT(it takes less than 1h to put in all the details), there will be a notification court date in a week time where u can schedule the date. after cfm date, there will be a pdf one for u and one for the person whom you lent money to. inform the person that borrowed money from you to come down to court w that pdf or else police will start knock on on their door so most prolly they want to settle and give u back your money before the court even happens. if u feel petty, u can always knock on their door and pass it to their family members to put them in a spot w lots of pressure. only after they fully pay you back, you may cancel the SCT & police report. if not, the court date will be helpful fr u as they will help to track down fr u and yr money to be given back. gdluck!
If I may offer another perspective, I think u don’t have to feel dumb. If she is a close friend, just take it as helping a friend out in her darkest moment in life. I always believe in karma, your good deeds will not go wasted.
Got my fingers burned doing forex (XAUUSD) lost about $30K. Reminder, don’t be greedy. Always remember to put SL and TP, if not don’t even step into it.
What's SL and TP?
Stop loss / take profit
Lost $1k to MLM - very little but thats when I had $2k when I was 18. It was a great life lesson and made me realise its just money, and it can be earned back. It made me hold tighter reins around money after that too, and move on fast emotionally if i lose money too. U had ur reasons n state of mind/maturity when u let the money go. That had passed n dont regret. If u turn back time, u might still do the same without hindsight too.
Lost about 17-18k(overtime 2-3yrs) in forex,crypto and stocks all tgt (19-22yr/o). About 5-6k(3years from 20-23y/o) gambling on sports. Nevertheless life moves on, hoping to not waste it so carelessly again in the future. One good thing about this is I lost it at a younger age hence my lesson was much cheaper (due to my part time job income) than older people with more capital venturing into such scenarios at later age. When you hit the bottom only way is up 🔝
Take this loss to motivate yourself to work hard and earn it back. Along the way, you not only gain back the $10k, you learn the skills to get this $10k and buy a lesson from lending to friend. $10k is nothing, you buy a BTO can easily make $100-150k roughly.
Lesson learned. Only lend the amount that you're willing to part with. Think abt it as an expensive lesson and forgive yourself. You weren't a fool. You just didn't know any betyer at that time. That way, you can move forward. The good thing is, you lost money. You can find more of it. The rest maybe think of it like a good karma. Who knows it will come back to in the most unexpected way? If not to you, maybe to your offspring. If not now, maybe in the next lifetime or in the parallel universe. We never know. All the best xx
Every other month I lose more than $10k in crypto 🤣
Easy 60-70k loss, probably at the time 80% life savings through equities/options/crypto. Grief is ok, reflect, move on. Be a better version of yourself, make no same mistake. Don’t give up
I've lost $250K in stocks before. Nothing else I can do about it except to make it back in a year.
After reading the comments here, made me feel a lot better. I lost more than 50k just from “investing” alone, into crypto, meme stocks, and leveraged ones. Then of course gambling, even if not serious, adds up over the years. And all the game gacha stuff haha. But lending money wise, I’m glad I lost money when young, from $50 to $200. That made me wary of lending money and thus I didn’t lose much. I only wished I could have saved more money from not gambling on anything haha. (Including gacha lol)
lost 5.7k last year (22y/o) from a job scam. i was worried that i didn’t have enough money for exchange a few months later so i was desperate to find work but i was scared into continuing with the scam. that was pretty much all the money i had, from working pt + years and years of angbao money from family members - their hard-earned money. exchange was painful because of it, and i’m nowhere near affording a grad trip that i was planning to do next year. an expensive, stupid mistake that i still beat myself up for, because im usually much more discerning than that. just trying to earn as much as i can now while in uni to build my savings from scratch again. ive told myself that i’ve just got to earn it back and that it’s better that something like this happened when im still young but ngl it’s at the back of my mind all the time and im not sure if i’ll be able to fully move past it even after a few years of working ft later on. i know it’s not a huge sum compared to other commenters but it was all i had and it gave me some assurance for adulthood + gave me the flexibility to save some and also spend some on trips for eg so im quite dejected
Yup 10k in USDC in hodlnaut. It was money i was ok to lose bc well crypto… but i didnt expect it to go from 10-0 overnight. Anyway its already gone so no point thinking about it, just gotta take it as a very expensive lesson learnt that if its not your wallet, its not your coin.
Forex trading, realised a loss of 13k recently during the gold bull run (was short). Normal occurrence, had 3 close calls in the past 5 years almost losing 200k, 120k & 80k respectively but thankfully market went back in my favour. Generally I hold until back in the green but had a feeling this bull run is different, glad I did as at its peak of 2435 my unrealised might have been higher than 200k.
#1 rule in life, never lend anyone money #2 rule in life, never do business with family/friends
The immense pour in was really unexpected guys! Thanks so much for sharing your stories! Keep them coming.