Few things are scarier than an unexpected financial setback. But, our financial situations aren't always linear. The missteps we take can often be learning moments, sometimes setting us up for greater success in the future.
To mark spooky season, 3 TD colleagues – and their family members – shared their most memorable financial horror stories, and what they learned from their monetary misfortunes. We've let them wear Halloween costumes (remain anonymous) for this piece.
Here are their real-life tales:
A house of horrors
By Regretful Renter
I moved to Toronto after graduating from university. I was in my early 20s and I had a big bucket list for city life. First up, find an apartment. Spoiler alert: I found one that almost made me run right home.
It was going to be the first time I lived alone, without my parents or roommates. I came across a well-priced apartment in an area close to public transit. I gave the place a cursory walk through and signed the lease without much thought. It wasn't until move-in day that I started to notice that my dream apartment was more like a house of horrors.
The floors were uneven and weirdly sticky. Mysterious gunk covered the baseboards. And worst of all, as I was putting away my kitchen, I noticed rodent droppings under the sink and brown stains all over the stove.
I paid first and last month's rent when I signed my lease. I didn't care though; I had to get out. I called my landlord and pleaded with them to let me break the lease. Eventually, they acquiesced and I hauled my stuff out.
I ended up losing $3,500, but I gained a valuable lesson. Try to avoid signing a lease until you – or someone you trust – can thoroughly inspect your future home. Of course, you can't find or predict all potential problems, but you can at least gain a sense of the place.
While researching Toronto rentals, I also learned about the importance of tenant insurance. Tenant, or renter's, insurance could cover the cost of your belongings against things like theft and fire. In addition, if your apartment becomes unlivable due to a covered loss, tenant insurance can cover any necessary and reasonable additional living expenses (like a hotel stay), up to a specified limit, until you can move back in or find another place to live. Conditions always apply so be sure to read the insurance policy in full or get an insurance advisor to help you go through it.
A financially doomed vacation
By The Ghost of Vacation Past
I was backpacking overseas with a friend after spending a year together teaching abroad. It was our last hurrah before heading home.
In the early days of our trip, an ATM ate my friend's debit card. The card was from a bank in the country we had lived in for the past year. It was thousands of miles away, and even after numerous attempts, we were unable to get a replacement card to be able transfer my friend's money to their Canadian deposit account.
My friend was left unable to access his money for our three-month backpacking trip. Ever the polite Canadian, I offered to bankroll my friend until we reached a resolution with their bank. This was our trip of a lifetime; I didn't want anything to ruin it.
Long story short, we never reached a resolution to access their money. And as our expenses grew, I lost track of the money they owed me. I fully blame myself. But, this was well before the online and mobile banking capabilities we're used to today.
After returning home, I tried to calculate how much my friend owed me. But given I didn't really track anything, I ended up giving them an estimate far less than the real number.
While I don't regret the trip, it was formative in more ways than I had anticipated. I learned about financial boundaries; maybe we could have pushed harder to get them a replacement debit card. Or if that wasn't possible, I could have been more organized with tracking (I'm now a pretty good budgeter after this experience).
Also, I never take mobile banking for granted anymore.
The haunted village
By Fooled Twice
My younger sister, who works at TD, is obsessed with vintage spice villages – a collection of 24 ceramic house-shaped spice jars. Sets from the late-1980s are hard to come by, and limited-edition new releases sell out immediately and resell online at a premium. Getting my hands on a set became my Roman Empire; I was determined to get one in time for Christmas.
I started shopping three months before the big day and found a set online for $300. I was excited, but also skeptical. I showed it to my mom, who’s nervous about getting scammed online, but she said it looked legitimate. It shipped from overseas with a tracking number. A month after it shipped, the online store closed. I got a funny feeling but was still optimistic.
Meanwhile, the package was stuck in the United States. Christmas came and went with no spice village. I told my sister about my predicament, and we excitedly tracked the shipment together. Eventually, I saw it was delivered. To Newfoundland. We live in Toronto, Ontario. We tracked down the delivery address – and associated phone number – but they had no idea what we were talking about.
I eventually got my money back from the online platform – and was more determined than ever to get my sister her spice village.
I eventually found another website selling the full, 24-piece set for about $425. My mom thought it smelled ok; it was a huge website selling thousands of items. The purchase went through, but two days later, the entire website disappeared. Poof! It was gone from the face of the earth.
I’d been scammed. Again.
Luckily, this story has a happy ending, at least for my wallet. I was able to get my money back since I paid via a secure online payment network.
I did gain something, though. I’m very aware of online shopping scams now. I try to shop only with vendors that I know and have used before, and remember that if something seems too good to be true, it probably is. I’m still manifesting a spice village for my sister for Christmas 2025 – but this time, I’m scouring thrift stores in real life.