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25 Things That Are An Utter Waste Of Money, As Listed By Folks In This Online Thread
Article created by: Jurgita Dominauskaitė
Only a small percentage of people are truly rich and have no need to think about the price tag, if something is a scam or if it’s overpriced. Majority of people are not so they have to be mindful about how they spend their money, but it doesn’t always mean that they are making the right financial decisions.
Of course, it’s fun to splurge from time to time but it is also smart to stop and rethink if the things we are spending money on are really worth it. People on Reddit listed some things that you may consider stopping spending money on after caloriedeficit101 asked, “What in your opinion is the biggest waste of money?”
We would like to hear what other things you would add to this list and if there are any things mentioned here that convinced you to save money on. Also don't forget to upvote the submissions that you agree with the most!
More info: Reddit
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#1
Cigarettes
AimlessCreator said:
Cigarettes
[deleted] replied:
I was never a smoker, but years ago, I worked at a medical office part time. The office manager was a former smoker. Her husband had been on her to quit for years. Finally, he said if she quit, he would take the money she would have spent on cigs (2 pack/day habit), put it in a savings account and take her to Hawaii, which had always been a dream of hers.
Well, it was the motivation she needed. For 2 years, he put that money into an account on her 2 year quit-a-versary, they took a first class trip to Hawaii for two weeks, completely paid for with cigarette money.
She'd been seven years cigarette free when we worked together.
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#2
Weddings
Weddings. A family member will have spent over $60,000 on her wedding that is this summer. They don’t even own a house. And 65%( after gifts from both parents) is credit card debt . If you have the money spend it on what you want but I just find it incredibly narcissistic to get yourself in so much debt because you need your ‘big day’.
#3
Buying New Electronics Every Year
Primary_Asparagus_58 said:
Buying new electronics every year just because it’s a new model.
shak_0508 replied:
I genuinely can’t fathom why people upgrade their phones on a yearly basis. 99% of what you do with the phone stays the same.
#4
The Medical Industry
The medical industry. Not the actual providers, all those middlemen, managers, CEOs, and companies (with all their shareholders).
#6
Name Brand Items
Name brand items. Doesn’t matter what it is, if it’s name brand it’s a ripoff. I’m not paying $500 for a tshirt with an ironed on Gucci logo, when I can get the same shirt for $5 at target. And it probably cost 50 cents for them to make.
#8
Name-Brand Shoes For Toddlers And Pre-Schoolers
Name-brand shoes for toddlers and pre-schoolers. They’re not gonna stay clean and they’ll grow out of them faster than you think.
#9
Gold Flake Covered Food
TheShoot141 said:
Gold flake covered food
buttgers replied:
Looks tacky.
Has no nutritional value.
No enhanced flavor.
It's one of those "because you can" status symbols, but it's a stupid one.
#10
Diamonds
Diamonds because of all the artificial scarcity, I was told if anything buy precious stones. That’s why if you look at royalty they always have rare or precious stones.
#11
Not Having Money
Not having money. Stick with me here:
When you need shoes, you buy cheap and they don’t last
Fast food is convenient and cheap, but not good
You end up renting and can’t build equity.
Being financially unwell is a waste of money.
#14
Gambling
IsThisNameTakenThen said:
Gambling
PseudonymIncognito replied:
This. There's a limit to how much a person can spend on a drug addiction without killing themselves. A gambling addiction can destroy multigenerational wealth if it gets out of control.
#15
Unused Gym Memberships
unused gym memberships
subscriptions to services I rarely (if ever) use
insurance, when as soon as you make a claim, your premium increases
#16
Video Game Skins
WatchY0urStep said: Video game skins. 12odriguez replied: But I shoot better with a nice gun skin. Rude.
#17
Reddit Gold
megabestfriend:
Reddit gold
edit: just because it’s a waste of money doesn’t mean I don’t appreciate it
megabestfriend said:
Been using reddit for a very long time, no idea what gold or coins actually do. Or why anybody would care about the sub you get access too.
Catflap_Boi replied:
I leave a comment and then I'm gone, I only find out someone's given me something years later when I eventually check my messages.
#19
Invading A Neighboring/Foreign Country
Invading a neighboring/foreign country. As we are seeing right now Russia is doing a marvelous job of creating so many financial problems for itself and its people in the very near future. Like monday near future.
#20
Out Of Season Fruits
Often out of season fruits (like strawberries in the winter) are really expensive and taste like water
#21
Starbucks
hikeoff said:
Starbucks
TLMoore93 replied:
One week I decided to try Starbucks instead of Costa for my weekend coffee treat and I will never make that mistake again in my life
#22
Kids
[deleted] said:
Kids.
mascottaricotta replied:
As an adult now I think back of all the money that my mother did end up wasting for me up until I moved out, and I feel terrible because she never had a lot. Kids and teenagers are constantly growing and figuring out who they are and what they like. There is a lot of trial and error, and as a parent frequently you're gonna pay for things that don't get used. Toys that don't get played with, clothes the kid wears once or twice, hobbies that get abandoned, etc.. it's part of life I guess. My mum did an amazing job not letting me worry about finances when I was a kid. I wish I could repay her
#23
Expensive Skin Care
ThatMeasurement3411 said:
Ridiculously expensive skin care
Burrito_Loyalist replied:
My wife is a makeup artist. She says the expensive stuff is much better because of the better ingredients.
The cheap stuff at Target is literally packed with ingredients that are harmful to your skin.
#24
Food Delivery Services
All the food delivery services. It’s obscene how much more expensive it makes a meal.
#25
Cable
Excellentbees said: Cable. JMS1991 replied: It's not a waste if you watch a lot of sports. Most sports are still not on streaming services, and the illegal streams are usually pretty hit-or-miss as far as picture quality, and the possibility of them getting shut down in the middle of your game and needing to find another stream. There are non-traditional cable options, like YouTube TV, Sling, etc, but those are still basically cable. They're just over the internet and with more transparent pricing.
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