Finance Globe

U.S. financial and economic topics from several finance writers.
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Are You Wasting Money on these Items?

Are You Wasting Money on these Items?

When you look at your budget, it’s important to ask and answer a variety of questions. Here is one of the most important: are there any items you can do without?

At first glance, you may not find any items you can comfortably cut from your budget. However, as you dig around, you may soon realize that there are a few opportunities to save.

Taking this one step further, there are big one-time purchases that can also be seen as a waste of money.

Below, we’re going to examine five items that you may be wasting money on. Let’s get started!

1. Bottled Water

Despite the fact that it’s cheap, it’s a cost that can add up over the course of a year.

There’s no good reason to purchase bottled water when you can get the same thing from your refrigerator or faucet.

2. Premium Gasoline

Many people believe that premium gas makes for a more efficient vehicle. They also believe it will help their vehicle last longer.

Unless the manufacturer specifically states that you should always use premium fuel, this is a waste of money.

3. Lottery Tickets

There’s no denying the fact that buying lottery tickets can be exciting. After all, who doesn’t like to dream about winning millions of dollars?

The problem with this is simple: the odds are stacked heavily against you.

Once you get out of the habit of regularly purchasing lottery tickets, you will find yourself with more money in your pocket.

4. Extended Warranties

It doesn’t matter if you’re purchasing an automobile, television, or power tool, there’s a good chance you’ll have the option to purchase an extended warranty.

While it sounds good in theory, remember this: you’ll probably never make a claim in the future. For this reason, all the money that went towards the warranty was a waste.

5. New Books

Why buy new books when you can purchase used for a fraction of the cost? This holds true for everything from textbooks to novels to children’s books. From local stores to online stores, there are many places to turn for used books.

Final Word

If you’ve wasted money on any of these items in the past, now’s the time to change your approach. You don’t have to go down this path again in the future.

What are your thoughts on these items? Do you consider them essential to your life, or not so much?

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Comments 1

Frank on Monday, 21 November 2016 18:16

I have to say I sometimes purchase lottery tickets. I do not consider them an investment at all, and I purchase these only for my entertainment budget. I never expect to win (and seldom do). I usually only buy them once a month, but it creates some enjoyment for me.

I have to say I sometimes purchase lottery tickets. I do not consider them an investment at all, and I purchase these only for my entertainment budget. I never expect to win (and seldom do). I usually only buy them once a month, but it creates some enjoyment for me.
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Monday, 16 September 2019

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