Save up to 50% on life insurance.

Good idea (really bad implementation)

in Money, Spending

About 6 years ago, I went on a pretty serious exercise regimen, and felt that if I had a stationary exercise bike I’d get great use out of it, so naturally I went off to a large box Exercise Store, and bought one of the dumber wastes of money in my life, a $1000 exercise bike.

This baby was all-singing all-dancing, programmable, with magnetic thingies and other stuff (the only thing it didn’t do was make me sit on it and force me to exercise, which would have been the best idea).

I did use it for a while, stopped, and then when I went back to it, it was broken. It started working again after a while and then finally died completely (naturally completely out of the warranty period). Here I sat with $1000 worth of useless exercise equipment (that I had to throw out), and a middle-aged paunch.

My frustration with myself is that I got “sold” something that I knew I didn’t need (a ludicrously expensive exercise bike) when all I needed was a generic bike.

The Expensive Bike looked like this (I think)

The best part of the story is that 2 years ago I finally decided to get another stationary exercise bike, found it on Kajiji, bought it for $100 and it does more than the $1000 carbuncle that I bought so long ago. I had to drive to hell and gone to get this replacement bike, but I got what I needed and it still works today.

Unfortunately I still have the middle-aged paunch, but I am working on it (for those who don’t recognize that is a reference to Middle Aged Man, from Saturday Night Live).

I realize that most folks are not too proud of their dumb purchases, but can I ask my readers, what is the most expensive dumb thing that you bought? I am curious to know what folks will admit to, and how much money might be spent on one of these (I feel stupid enough blowing $1000), how big was yours?




  • Poor Student June 30, 2012, 9:19 AM

    My story is very similar to yours, but lucky for me the cost was much less. For some strange reason we had The Shopping Channel on one day a while back and I saw the program for The Gazelle. I do not think we used it more than 50 times all together. Needless to say we now use it to hang up laundry in the basement. It does a good job of that though.

  • krantcents June 26, 2012, 9:48 AM

    I have bought things on sale because I thought I wanted it. I wear it once or twice and never wear it again. Either it does not fit that well or I didn’t really like it. Luckily,the individual price was under $100.

    • bigcajunman June 26, 2012, 10:18 AM

      Very good self-control, if all you blew was $100…

  • Jeff June 26, 2012, 8:38 AM

    I could list a few, but for some reason I buy expensive drinking glasses. A set of two glass coffee mugs for $25 that apparently keep your coffee warmer than normal mugs, and $80 beer glass, eight wine glasses for $100…and guess what…they all broke.

    I agree with the last post, stocks. In university I had three friends working as day traders making a killing (late nineties) and they convinced me to put $15,000 US from my STUDENT LOAN into tech stocks…you know how that ended. All gone. Thankfully I paid my loan back quickly since I had a great job out of school, but I’ll never forget that “learning” experience.

    • bigcajunman June 26, 2012, 8:49 AM

      Man, I am impressed by the honesty of you folks so far, this is an amazing set of stories (so far)!

  • SavingMentor June 26, 2012, 5:59 AM

    My stupidest purchase would have to be a stock, not an exercise bike. I almost entirely avoid individual stocks but I did stupidly buy yellow pages. We all know what happened there. Lost a fair bit more than your $1000. Didn’t break the bank or anything but it wasn’t fun.

    I also purchased a recumbent exercise bike recently new from Costco for about $500. It was good value compared to what else was around and I know that if it ever completely fails in a reasonable period of time I can just dump it off at Costco’s door” and they’ll give me a full refund like I’ve done many times before.


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