What do you consider a waste of money and don’t understand why others spend their money like this? I’ll go first – a brand new car. It depreciates in value when you push it out of a parking lot, has ridiculous fees, and is more expensive in insurance. I don’t understand. After someone asked the internet for other examples, these spending money received the most votes.
1. Designer clothes and accessories
Designer clothes, accessories and bags are the number one answer. Someone suggested, “Look at me; I spent 20 times more money on my bag, ironically less practical than your $20 bag.”
Another admitted to internal annoyance before explaining that his wife bought a Louis Vuitton bag. He looked at it and couldn’t understand why anyone would pay more than $20 for it. “It was a bag. No pockets. No external zipper. There is no organization. It’s just a bag.”
2. Cigarettes
Cigarette smoking is a nasty addiction that kills 480,000 people in the United States each year. Several people in the thread volunteered to share how great it is to quit smoking cigarettes.
As an ex-smoker, I will too! I went from $3.75 a day to over $10 a pack a day before I stopped six years ago. In addition to being a huge waste of money, I stopped getting bronchitis twice a year. I haven’t had it since.
3. Herbalife
Herbalife or any MLM product for that matter! This is a waste of money and a scam. One woman said that as a teenager, yes, YOUR GROWTH, she was tricked into using their products because they were “life changing” and helped her lose weight and overcome depression – cockiness. This child was in high school.
4. New iPhones
Is there fast electronics in fashion or is it just fast fashion? People who buy a new iPhone, or any phone for that matter, spend thousands of dollars each time they buy a new one on “slightly better cameras and minor design changes.”
Here’s some advice for you. As someone who has been a cell phone store manager, I know they are commission based. However, some do not pay for devices, but instead pay for service lines.
So if someone tells you that you have to get a new number or can’t port your old number, they are lying and want to get a commission for the new line of service. For the same reason, they are adamant about pushing you with free tablets because they get a commission for providing the service.
5. Ink cartridges
Cartridges are a huge expense. One Redditor suggested, “It’s a grave crime against humanity that printer companies get away with this insanity.”
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6. Extended warranties of any kind
No one admitted to buying an extended warranty. However, about 8,000 social media memes immediately filled my head at the mention of “extended warranty”. Did something come to your mind too? One person explained why they didn’t buy them: They tried their best not to pay them like insurance companies.
7. Takeaway and food delivery services
After realizing that eating out and cooking at home lead to two different financial and health outcomes, many have been shocked at how much money others are spending on restaurants and food delivery apps. Also, there’s no way to know what you’re eating at a restaurant compared to having some control over grocery shopping, self-education, and reading labels.
8. Decorative pillows
Why are decorative pillows so expensive? And they always have cute lines or sayings that draw you in, but I don’t live, love or laugh at these obscene prices. The UK woman decided she would buy fabric and cotton and make them herself before paying £100 ($121.25) for them at local shops.
9. American Mint Commemorative Coins
American Mint commemorative coins have been listed on Reddit as a waste of money. Phew. My grandparents would be sad to know about this. But I love the sentimental value behind mine, knowing they were hoping and wishing the best for me.
10. Psychic Readings
After someone said psychic readings, one Reddit user joked, “We knew you’d say that.” This made me chuckle a little. And you? However, many people agreed with this opinion, while others admitted that after reading the Tarot, they overcame their skepticism.
11. Horses
Several users commented on the huge expense of keeping horses before one of them joked, “But they seem so stable investments…”. Another confirmed, “I heard it straight from the mouth.”
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12. Political donations
Finally, Reddit users admitted that they would not spend money on political donations. One clarified that he would not give money to some lying politician to spend it on crappy political advertising that hits each other. “I don’t think so, Tim.
We hope you enjoyed this discussion on Reddit about things that are a waste of money. This article is inspired by the Internet and does not necessarily represent the views or opinions of Wealthy Nickel.
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