Are you tired of ending the month trying to figure out where all your money went? I would be willing to bet that you are wasting a considerable amount of money each and every month on wasteful things. Even if you don’t realize it, you might be surprised.
While the list is considerably longer, below we are going to talk about 5 things you are wasting money on that you should try and change asap to save money! Getting rid of this spending waste will change your life in a big way! You can add some money to your savings or finally reach goals that you have been wanting to reach (vacation, anyone?).
5 Things You are Wasting Money On
New Designer Clothing
Designer clothing is expensive. Very expensive. The thing is though, it’s simply not a need. It’s important to know the difference between wants and needs. It’s also important to remember that you can still get your favorite brands, just be smart about it. Check out higher end thrift shops such as Plato’s Closet and check out the in style, designer clothes that you can buy for huge discounts.
Be sure to also check FB Marketplace for deals on designer clothing.
Gambling
Did you know that you are more likely to become the president of the U.S. or be attacked by a lion than you are to win the lottery? It’s true. Playing the lottery is a great way to waste money.
New Cars
Long before I was even a licensed driver, I knew that buying a brand new car was a bad idea. Brand new cars lose up to 40% of their value the minute you drive off the lot. There is just no reason to waste that kind of money (thousands of dollars) when you can buy a perfectly nice new-to-you car.
Weddings
Yes, your wedding is a very important day. The key is though, it is ONE DAY. So many marriages these days start out in debt simply to pay for the wedding. No thank you! Put that money toward buying a home or building savings together and make your wedding a more simple affair. Granted, I got married 25 years ago, but my husband and I spent $220 on our wedding and I’ve never regretted it ever. I bought a low cost, simple dress and we paid $150 for our officiant. We got married in a park for free, our cake was given to us as a gift and we had a pot luck reception. It was lovely.
Jewelry
Hey, I’m a girl that loves to have pretty jewelry as much as the next gal, but I hate the kind of money they ask for it in store. I currently wear a wedding ring that cost $2800 in store, but because the bride/groom changed their mind about their jewelry selection, I bought it used (it was still in the box with all paperwork), for $200. I understand that some people may think it’s bad luck or something, but I promise it hasn’t affected my marriage at all and I still love the ring!
You can find great deals on jewelry of all kinds by buying second hand.
