Well, the two best purchases that I made are actually not paid off yet! It would have to be our house and my piano. I love love love owning a home and not having to worry about landlords anymore! (We bought our first house 9 months ago).

The piano is the best I've ever owned, though it is by no means worthy of a concert hall or anything. But it does have a lovely, bright sound, has a nice feel, and it is pretty. Plus it is great to be able to practice and enjoy the way it sounds. I worked in a piano studio as a teacher for 2 years and got to play on some extremely good instruments, so I had to have something at home that could compare a little bit, or I wouldn't practice.

As far as "bad" purchases, I see evidence of this all over the house...nothing overly expensive, but I do own a lot of junk I could sure live without. Makes me wonder how much money I would have in the bank if I could get a refund on all of the unnecessary stuff!