Money Wasting Products You Don’t Need

19
July

If you’re having trouble making ends meet and seem to be living paycheck to paycheck, it’s time to take a good look at where your money goes. All too often, money that could be spent on bills, groceries, and even the little luxuries is getting tossed down into a hungry, empty void that you could completely eliminate. Read on for some thoughts on where your money may be going to waste when it could be going towards something you really want.

Bad Habits: Probably the number one black hole of money waste are the habits we’ve grown accustomed to that do nothing good for us and cost money. A carton of cigarettes could buy a person a decent dinner for a week. You can buy a package of steaks to cook for the price of a 12-pack of beer. Fast food meals can swiftly cost over a hundred dollars a week, and feeding families this way will cost much more. The quickest way to see an improvement in your budget and financial situation is to throw out smoking, alcohol, junk food, and fast food solutions. These are not healthy for you, are not necessary for your survival, and you are paying real money to keep them in your life. There are plenty of terrible habits you can pick up for free that are less detrimental to your health.

Feature Overload: If you have a cell phone, it’s somewhat doubtful you’re using every feature you purchased. Maybe you don’t use many minutes, or you never text, or couldn’t even find that internet browser service you’re paying for if you had to. Ditto if you’re paying for extra features on your cable, internet, car, or any other gadget. Having fancy toys doesn’t mean much, unless your fancy toy is paying your bills. Drop the bundles and the bonuses and strip your services down to what you really need.

Luxury Routines: Thinks like manicures, hair styling, massages, movies, gyms and such are all types of luxuries. They may have significant benefits and they make life more fun, but ultimately, they are things you can live without when the budget gets tight. Not to say they have to be eliminated entirely from your financial diet, but they should become occasional treats. A problem starts when luxuries are treated as routine expenditures and taken as a given when there are far more important places to be putting your money. Instead of going out to the movies every week, save money with rentals and have a movie night in. Instead of getting an expensive hair cut and dye job every month, learn to do it yourself or try out a lower maintenance style until finances improve. Cut out the fees of a gym membership and find ways to continue your routines at home.

Clearance Aisle: People are impulse buyers, and for most of us, it’s not the noticeable kind where we have just have to have that plasma TV. Most people actually spend a small fortune a few dollars at a time. Something happens to the brain when we see something marked down. It’s like some bizarre, primeval fear that we will never find such a good bargain again, and someday we may really, really need that discounted coffee maker/swimsuit/wrench set/talking toothbrush. It’s imperative to learn to control that fear. Just because it’s cheap doesn’t mean you need it. If you wouldn’t want it full-price, you don’t really want it now that it’s half off. Simply because it’s on clearance doesn’t mean you’ll never find it, or something like it, ever again. This reasoning applies to thrift store divers and garage sale hunters as well. Junk is junk no matter the price, and spending even a little money on a waste of your time is still wasting money.

Pay attention to where your money really goes, and you’ll have more of it when you need it.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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