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When Do You Cut Your Losses?

picmonkey_imageWe have all been there. You have spent money on something, it is going downhill fast, and you are determined to salvage it (or the experience) because you have spent money. This blog is inspired by three things that I should have cut my losses on but didn’t because my stubbornness trumped my common sense.

The bar

picmonkey_image-2The bar that is now in my upstairs was like an albatraoz strapped around my neck for a long time. My mom went to the Habitat for Humanity Store and found a large bar that had a granite top. It was $500 and my mom called me to tell me this would be PERFECT for our gameroom. We had a carpenter that was building several things in our house and a complete bar was included in his projects. Brad said from the time my mom called, this is the worst idea ever! NO! I convinced him that this was a good deal because of the granite top. picmonkey_image-3We paid the Habitat for Humanity store $50.00 to deliver it to our house. We told the carpenter to cancel part of the bar ($500) because we found one already! The bar stayed in our garage for months. It weighed a million pounds. I paid the carpenter $200 to find guys to help him get it upstairs. That completely got lost in translation and I think he assumed I tipped him $200. The bar was still in my garage. We were now at $750 invested into this bar. We conned some of our friends to help Brad get the bar upstairs one night. I don’t know how they did it but the bar was in the gameroom. I called a granite place to fix the jagged granite on the bar and they informed me it was not fixable. I would have to get completely new granite for the top. It would be $1000. I had to do it because if we ever sell our house, we cannot have a patchwork quilt bar in the game room. picmonkey_image-4I was now $1750 invested into this bar. The bar had wooden parts that needed to be fixed. The carpenter charged me $150 to fix it. Brad and I are now $1950 into this bar and it still is not completely finished. I should have cut my losses at $550 and moved on.

The picture

picmonkey_image-5I decided to get family photos printed for our house. I chose the largest size that Walgreens had. After picking them up, I soon realized that they were much too large. I paid $25 per print (there were two). I decided that I would just cut the photos and buy a smaller frames (I didn’t want to lose $50). I went to Hobby Lobby and bought two frames that were $25 each. I was now $100 into these pictures. When I got home I realized that they pictures were just too large. I found a place for the family one because even though it was large, it was of the family so it could work in an open area. I was stuck with the photo of Brad and I. IT IS HUGE. Where in my house could I hang it? I finally decided that we are not those people. Brad and I are not comfortable having a HUGE picture of us in the main part of the house. Because I spent $50, I decided to hang it in our bedroom. It really is ridiculous. Brad and I couldn’t stop laughing about it. It really is over the top and weird. I should have cut my losses at $25 but I didn’t. I sunk more money into this. I think that it will not last long in our bedroom because it just makes us feel weird. When we wake up in the morning, we see this big picture of us!picmonkey_image-6

The refrigerator

Two years ago we bought a Samsung refrigerator from Lowes. About a month and half ago, it broke. Thank goodness we bought the warranty (SIDENOTE: The repair guy said these new fridge’s are always breaking because of the computers in them so you should ALWAYS buy the warranty….we hardly ever buy warranties because we are cheap so I was glad we did) I called Lowes and they said it would be a week before a technician could come out. They gave me a date and a time frame to wait. I was thankful that we had a second fridge in the garage. The following week, I waited all day for the repair guy. He never showed up so I called at 5 and got no answer. I flew to Mexico the next day so I called them on Monday. They told me the wrong day (sorry they said) They tried to call me on Friday (the real day) when I was flying to Mexico and my phone was off. It would be another week before a technician could come out. A technician came out and informed me that a computer part had to be order. A month later, my fridge was finally fixed. I tried not to be a brat because I had a working one in the garage but it was a PAIN to go back in forth for a month. Two weeks later I got a phone call that my fridge broke again and there was water all over my kitchen floor. I called Lowes and they informed me that it would be eight days before a technician could come out to look at it. WHAT? How many breaks had to occur before it was scrapped? According to Lowes, four breaks for the SAME PROBLEM. Nope. I had enough. I would cut my losses here because I was not going to wait another month to have a working fridge. I called Lowes and told them eight days was unacceptable for the SECOND break. The representative informed me that sometime it takes longer to find a technician, especially in rural areas. I laughed. I live five minutes from Houston, Texas and have five kids. I was frustrated but decided to be nice to the guy because he didn’t create this crazy policy. I think the guy felt really sorry for me (again, I realize this is not the end of the world….there are people with REAL problems…but I was frustrated). He left a message that they had decided to junk the fridge and that they would credit me the cost of the fridge. I immediately drove to Lowes and bought a new fridge! I am MOST excited about my the non-smudge feature of my new stainless fridge. Those of you who have small kids can appreciate this feature. lol

Share you story: When did you have a situation where you should have just cut your losses instead of going on?

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1 Comment

  • Reply
    Kerrie Johnson
    July 26, 2015 at 12:19 am

    My Legal Education

    My first major was education, but I changed it to political science (pre-law) because my dad thought I should. I wanted to quit after my first quarter at Baylor Law School and major in education, but when I went to see the Dean of Education, he “offended” me by telling me that maybe I had changed my mind about being so career driven because I was married. I made it through the first year of law school and wanted to quit, but I didn’t because I was already $16,000 in debt for the miserable school. It was my only debt. Long story, short – Law school nearly killed me, and it did kill my marriage. I graduated with $68,000 in debt. I had to take a job working for a corporate law firm (something I never wanted to do) so I could pay it off. After almost ten years of practicing law, three years of law school, and a masters degree in political science, I finally went to school to certify in education at the ripe old age of 35. I finally let both law licenses go inactive this year. Sometimes, enough is enough. It took me nearly twenty years to give up!

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