Money is wasted by the billions everyday. You probably already do some thing that are a massive waste of cash, I know I do. Some excellent ways to waste your hard earned dough include:
- Smoking – Heavily taxed and $5 a day for a year equals $1825 per year. Just light your money on fire but don’t forget to breathe the smoke in while you do it.
- Gasoline – I know it is necessary to get yourself to work, but if you are driving a large SUV by yourself everyday, you know that you are wasting a ton of fuel.
- Eating Out – Fast food and restaurants are a great way to socialize with friends but the cost of that lifestyle is astronomical compared to eating at home or bringing prepared meals with you.
- Credit Cards – Carrying a credit card balance and only paying the minimum is similar to just going to the bank with a wad of cash and handing it to them. I just found an old bill of mine with $788 owing. The interest was $16 and the minimum payment was $15. Do the math.
- Pay Day Loans – This is just legal loan sharking. They charge massive amounts of interest and will just take your pay cheque as soon as you get it. If you are in a situation that requires money right away, like rent, i’m sure that instead of taking your bank information and proof of employment to a pay day loan shop, you can just take it to your land lord and prove that although the rent is going to be late, they are definitely going to get it. Remember to remind them that waiting an extra week for rent is a lot less hassle than kicking you out and finding a new tenant.
- Gambling – The house will always win at this game. For every story that I have heard about people winning at the casinos, I have heard dozens of stories about people loosing. I actually have a story about winning at the casino. The bar was near the big spinning wheel game and for about three hours I would get up between drinks put some cash down and buy the next round. It was great! But that is my only winning story. I have probably spent thousands on lotteries and scratch tickets and never won a thing.
- Designer Anything – If two hundred dollar jeans make you happy, then you have some serious self esteem issues. It is said that then more possession you own, the more your possessions own you. If luxury items are something that you feel that you can not live without, I would suggest that you buy knockoffs and tell your snobby circle that they are real.
- Replace When You Can Repair – This means that instead of spending thousands of replacing your toaster, dishwasher, or any thing else, you should just take it apart and see if you can fix it. I saved my neighbor from having to purchase a new mower by flipping it over and tightening a couple of bolts.
- Fines – Parking illegally, speeding, building without a permit, and other misconduct are all completely avoidable. You know you shouldn’t be doing them and the tickets are so damn expensive. An easily avoidable expense.
- Time – I know that time is not really something that you can waste money on. But it is still something that you can waste. I thought it was important to add it to the list because [Time = Money]. It is true that the more time you spend, the better the returns. Just think about investing time into playing the guitar or any other instrument. If you put enough time into some thing, you are going to have a bankable skill that is going to be in demand by someone. Unless it is something like watching television, which can still be banked as long as you are writing reviews about shows or some other idea like that.