20 Things People Waste Their Money On

20 Things People Waste their Money On

  1. Credit card interest – Credit card interest is the number one budget killer and money waster. You swipe that credit card and then you plan on paying that money back and bam that interest comes back around and knocks you on your ass! You don’t even realize that you are wasting your money on it, till you don’t have any money!
  2. Overdraft Fees – In this day and age, people don’t usually write checks that then, cause your account to overdraft. However, there are debit cards that take money out of your checking account. For example, the Target Red Debit Card. Let’s be real, how many people have had their account overdraft because they forgot to take in account the money they spent at Target. It is still important to budget your checkbook to prevent overdraft fees. Try to also get overdraft protection. Also, some banks will forgive one overdraft a year. So, always ask.
  3. Going Out to Eat all the Time – Going out to eat all the time can get expensive really quick. Not only is it a money waster but the food is often unhealthy and high in calories. I again highly recommend Pinterest for healthy recipes to make food exciting
  4. Appetizers – Appetizers are great if you aren’t very hungry going into a restaurant and don’t want to spend a lot on a huge meal. However, buying both a meal and appetizers is both expensive and a lot of calories. Plus, how many times do you then bring most of that food home and it goes to waste because you were already full by the time your main meal was served? Save your money!
  5. Gym Memberships – An unused gym membership is such a waste of money. Trust me I have been there, done that and paid that price. Don’t buy into that, “I’m going to make it my new year’s resolution and start going to the gym.” Find other ways to work out that doesn’t burn a hole in your pocket.
  6. Coffee Shops/StarbucksThe internet is really a wonderful thing that we have at our fingertips. We are given the ability to look up great recipes to make our own delicious coffee at home for a lot less. We just need to stop buy into this instant gratification thing. Just think about all the time you’ll save yourself from waiting in Starbucks lines when you could instead be at home making your own delicious coffee.
  7. New Baby Clothes – Save your money on new baby clothes. Children grow out of clothes so quick so it is a great idea to get these items from your shower, second-hand stores, yard sales, or hand me downs.
  8. New Kids Toys – Children get bored with toys quite often or they break and stop working. I see so many kids toys at yard sales and second-hand stores for so much less. I buy my step son used toys and electrons all the time and he enjoys them just as much as the toys he gets from the store. In fact, he doesn’t know the difference.
  9. New Books – I find it extremely important that people find a way to read. However, I don’t believe that you need to pay full price for books. It is so easy to find books used, at a discount online, or at yard sales. You can even borrow books from friends.
  10. New Electronics – It is often tempting to buy the newest and latest trend in electronics. We spend hundreds and thousands of dollars every year to try and keep up with the latest and greatest in computers, fitness watches, TV’s, etc. Keep your old electronics. I have an old 80 GB classic iPod and I wouldn’t trade it for the world.
  11. Upgrading Your Cell Phone – This goes under electronics but, I feel like it needs its own separate reminder. You don’t need to upgrade your phone every time the new iPhone comes out. Wait till your contract comes up and get it for free don’t spend full price!
  12. Magazine Subscriptions – Magazine and daily newspapers can be read a couple of times then throw out. Although, they can be reused and recycled they often are a waste of money.
  13. Bar Drinks – Although, the atmosphere is tempting, drinking at a bar is far more expensive than having drinks at home. Get creative and have a house party. Look up some unique drink recipes on Pinterest and go crazy.
  14. Not Returning Items – I have to confess I have made money off of this. I have found items at yard sales that people had recently purchased that still had the tag on it and I then returned the item. All because the person was too lazy to take the item back to the store. Return your items even if you won’t get full price for it. Just think it is better than nothing.
  15. Buying a new car or trading in a car before it is paid off – New cars decrease in price the second you drive off the lot. So, why would you buy any car new if the resale value of it is going to decrease so quickly?
  16. Overly Expensive Wedding – Weddings are expensive! Couples often spend 30,000 or more on just one day which often starts their marriage in debt. Believe me, I am not exempt. Although, my parents paid for most of our wedding I spent quite a bit of money on odd and ends like decor and unnecessary expenses that could have better been spent on a vacation.
  17. Lottery Tickets or Gambling – Your chances of winning a good sum of money in the lottery or gambling is very slim. In fact, over the years of spending money on lottery tickets and gambling, you are probably wasting more than what you are getting back when you actually do win.
  18. Cable TV/Premium Cable Packages – There are so many ways now to get cable shows free or at a far better cost than what most cable and satellite providers are asking, that it is not worth paying for cable tv anymore. Check out Hulu Plus or Netflix.
  19. CDs and DVDs – Buying anything new really tends to be a big money waster. However, buying DVDs and CDs really can destroy your budget and your space. However, if you like having the physical copy at least buy them used.
  20. Upgraded Shipping –  Why pay for shipping when most stores online will ship to a local store for free? For example, Target or Best Buy will ship to their store for free. Amazon will ship for free for orders over $49 or $25 of books. Or if you have Amazon Prime it’s $10.99 a month and you get free two-day delivery among many other benefits.