TRUE CONFESSION: How I Ruined New Year's Eve, One Bad Money Decision After The Next

I know that as red-blooded human beings, we're allowed to make a few mistakes every once in a while.

I just wish mine didn't cost so much. 

About two years ago, I turned what should have been a wholesome New Year's celebration into a nightmare –– one bad money decision after the next. 

When all was said and done, I managed to blow close to $700 over the course of six topsy-turvy hours that, in retrospect, weren't really that fun at all. 

It may sound trivial to some, but it's cautionary tales like these I wish people were more transparent about. When it comes to spending, we all give in to temptation (and yes, a little peer pressure) from time to time –– no matter how old or wise we become. 

Like many poor choices, it all started with a little peer pressure.

A pair of long-time friends were in town, so I met them at the swanky W hotel in the lower Manhattan's financial district for a pre-party drink.

I was broke at the time and usually would have tucked a mini bottle of something serious in my clutch and been done with it. But my girlfriends had flown across the country to have a good time, and I knew toasting with a couple of cheep beers in my apartment wouldn't cut it. 

So, naturally, we decided to order a $75 bottle of champagne.

Then I blew $20 on a cab I never needed.

Feeling festive, we left the hotel and made our way to a cab to head uptown.

Here's where I could have saved serious cash. Not only do I live in New York, the land of public transportation, but the city was actually giving away $30,000 worth of FREE cab fare and metro cards to party-goers at the time. 

"Whatever. I've earned this!"

As we lacked both a publicist and a hit reality TV show, we weren't able to get into any of the super exclusive parties going on throughout the city that night. 

I did a little search on the web and found a great-looking party at an East Village venue with four floors, unlimited drinks, and a balloon drop at midnight. 

It also cost $150 for the smallest "VIP Package" available. I'd just gotten a small Christmas bonus, so I justified the price with any shopaholic's go-to mantra:

"Whatever. I've earned this!" 

Please follow Your Money on Twitter and Facebook.