12 Things We Continually Waste Our Money on For No Good Reason
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In a consumer-driven society, succumbing to the temptation of spending money on items that provide minimal or no value in return is a common pitfall. Reflect on those small indulgences and habits that gradually deplete your finances.
People share online the most common things that are considered a total waste of money yet individuals persist in paying for them.
1. Extended Warranty on Cheap Items
Manufacturers often offer an extended warranty in addition to the standard warranty on new items. While buying this type of warranty is worth it in the case of expensive items like laptops, TVs, or cars, this is considered a pointless expense on cheap, easily replaceable products.
One user says, “Every time I buy my kid a $1.25 Hot Wheels at Target, I get asked if I want to purchase a toy protection plan for $3. I don’t understand the question.”
2. Cigarettes
Cigarettes are certainly a total waste of money. One person did the math recently: “I spend a little over 2k$ USD a year on cigarettes. And I live in the cheapest state to smoke. Some states add a $3 tax to every pack. And it’s even more expensive in some other countries.”
Another user adds, “Whenever you wonder if people are willing to pay to live longer and more healthily, remember that plenty of people are paying for the exact opposite.”
3. MLM Products
Many individuals highlight MLM products as being among the most foolish expenditures one can make. These products are not only overpriced, but they also feel or look exceedingly cheap.
One woman shares her terrible experience with an MLM product: “I, unfortunately, let a friend talk me into buying Mary Kay from her and used it once and all it did was make my face burn and turned me into a tomato with how red I was. Never again.”
4. “Unlimited” Data Plans with Limited Speeds
Nowadays, most internet service providers offer unlimited data plans. However, these data plans can often be misleading for the customers.
Someone gives a real-life example of this: “My favorite is when the data plan is unlimited 5G, but then the data is capped at 50GB or something. After that, the speed is reduced to slow speeds, which is basically unusable.”
5. Huge Weddings
“Why drop $50-100k. Why drop that much money on an event? Yes, the memory is important but some folks drop ridiculous amounts on the perfect event when a much smaller one would be more intimate and not bankrupt someone.” Writes someone about huge weddings.
6. Bottled Water
Compared to tap water, bottled water is a worse option. It not only costs more and has a higher environmental impact, but very often, tap water is safer to drink. So why would you spend significantly more money for almost the same quality of water?
Users suggest that if someone really cares about the water they drink, investing in a faucet water filter system or a simple Brita pitcher is better than continuing to buy individual bottles of water.
7. Gym Supplements
Someone says that 95% of gym supplements are useless. “Aside from caffeine and creatine, none of them have been vetted enough to be called effective. And the ones that have, are never effective.”
Another online contributor writes, “I’m getting my masters in nutrition and I don’t understand why people DOWN supplements when they have no deficiencies but refuse to eat fruits and vegetables.”
8. Food Delivery Through Third-Party Apps
Ordering food through third-party apps adds extra expenses to your meal. This is because, in addition to the usual takeout prices, there is often a 10-20% markup on menu items, plus fees, and you are also expected to leave a tip. Thus, if you don’t want to waste your money, you better place your order directly at the restaurant.
9. Coffee Drinks
Most users agree that those who make daily trips to Starbucks to get their favorite coffee squander a lot of money.
One person says, “I have perfected the art of making one good cup of coffee at a time at home and when I did the math I realized I was spending ~$4-6 per day before and now I’m paying ~$0.75 per day without lines or apps or being asked how to spell my simple name or whatever.”
10. In-app Purchases in Games
It seems that some people don’t mind pouring significant amounts of money down the drain by making in-app purchases in mobile games.
“I lived with someone in their 30s who had spent literally thousands of dollars on Candy Crush. I think that kind of micro-transaction is only ever predatory. It’s just kids and people with psychological problems supporting a multi-billion-dollar industry. It’s gross.” Shares someone.
11. Fast Fashion
One user perfectly summarizes the problem with fast fashion clothing: “Not only a waste of money but also a huge ethical issue. The industry is bad, the consumers are bad, and the clothes look awful.”
12. Scientology
One man tells the community that his dad had an awful experience with Scientology. His dad was constantly asked for money, and they tried to sell him tons of books and classes over the years. Unfortunately, when he became ill and lost his ability to make good decisions, they even managed to talk him into buying dozens of their books.
Another person says, “I tried exploring religion a little a few years ago and looked into Scientology a little, can’t say I had a clue what they were on about, but I was pretty certain I was too poor for that one.”
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