8 Ways You’ve Wasted Money

[Yusra3]

1. You’re not saving for the future.

2. You’re buying things you don’t need or can’t afford.

3. You don’t have a budget and you can’t stick to it.

4. You spend too much on small things (like coffee) instead of big things (like retirement).

5. You miss out on opportunities because they seem too expensive at the time.

6. You don’t make any plans for your future, which means that no one knows how much money you should be saving, or what kind of investments will pay off in the long run and neither do you!

7. You waste all your money on unnecessary expenses like going out for dinner with friends instead of doing something productive like starting a business or investing in stocks!

8. You don’t take advantage of great sales because they seem so expensive at first glance, and then end up costing more in the long run than if you had just bought them earlier without thinking about it first!

 

[Ganibade]

Somebody can waste money on unnecessarily things to affect them to plan features,even more than eight ways.
People spend money lavishly in public to satisfy people on what is not important. Such a thing are burial ceremony, the way people are spending on burial ceremony nowadays is too much extravagant, they go for excess materials very exorbitant materials that they use in the process.
They even borrow money,to satisfied people, to make money from them, this is lavish spending of money.
Some people are spending more than their income daily or monthly it makes people to complain before the end of the month, when they have spent on unnecessarily things, immediately they collect their salary, and they cannot endure till the end of the month, this cause a lot of havoc to that person.
Like my colleagues have just said above, local dish is better than fast food products that people are spending on when they collect their salary, instead of making a local dish by themself to survive the family.

 

[Heartstrings]

There are so many ways to know that one have really wasted money and your points are quite okay. The way some people waste money will make you think if they actually pluck the money from a tree. I see eating in a restaurant always as a waste of money,when you can actually make a good home made meal,tey are all going into one stomach afterall. Some people also spend money on things they don't need at that particular time just for a show off,it's a total waste of money actually.

Celebrating an extravagant birthdays and funerals are all wasting of money,the most annoying one is,not spending a dime on that person when he or she was alive,be it parents, friends or a family member. Even if you see the person struggling to make ends meet. But you start celebrating and spending lavishly for funeral just to show off that you care.

Going on vacations every now and then is also a total waste of money,there are so many fun places you can actually go to that you won't have to break a bank for it.

 

[Etini]

The little things that we spend money on every day, if we are to add them all, we would be shocked at the amount. I use to tell people that sometimes the capital for our future investments comes to us but does not announce itself as one huge amount. It might be coming in frequent trickles that we could have saved till it became something big.

Take, for example, some people who spend a little amount on laundry services every weekend. The amount looks small but if you calculate the total amount over 54 weeks, you would be amazed. Some can afford to wash their clothes by themselves but choose to spend that amount. We should learn financial prudence. What you can do for yourself, please do. Only pay for things you absolutely can't do for yourself. In this way, you would save some money. These small things really get deep into our finances without our knowledge

 

[Chibson]

I believe any individual that wants to achieve financial freedom must try as much as possible to be saving for the future and at the same time investing.

It is always important that whenever you receive your income you should invest some certain percentage into your savings and some certain percentage into investment.

It is also important and necessary you avoid buying things you do not need it because they may end up taking some huge part of your money.

The major reason some people do not achieve financial freedom is that they always buy things that may not be helpful to them in the future.

 

[Bisolami]

1. You’re not saving for the future.

2. You’re buying things you don’t need or can’t afford.

3. You don’t have a budget and you can’t stick to it.

4. You spend too much on small things (like coffee) instead of big things (like retirement).

5. You miss out on opportunities because they seem too expensive at the time.

6. You don’t make any plans for your future, which means that no one knows how much money you should be saving, or what kind of investments will pay off in the long run and neither do you!

7. You waste all your money on unnecessary expenses like going out for dinner with friends instead of doing something productive like starting a business or investing in stocks!

8. You don’t take advantage of great sales because they seem so expensive at first glance, and then end up costing more in the long run than if you had just bought them earlier without thinking about it first!

You are right. Apart from all of these that you have mentioned, I can also say that one of the ways that I have wasted money is through gambling. I used to gamble a lot and I always end up losing my money to it then I will begin to regret why I gambled in the first place. It Is even better not to gamble at all and I should save my money instead of losing it.

At the moment, you can never see me gamble again because I make money and it is very hard to make money and I will not like to waste it on something that is not reasonable.

 

[Mika]

One of the major expenses is food. Food is essential, however, when you check what you have eaten or drank throughout the day you will find that more than 50 percent of your food expenses are useless. For instance, you earn soda, chocolates, ice creams, tea, coffee, etc. and these are nonessential items. You might also be munching chips and cookies all through the day which is absolutely a wastage. Another major expense is clothes. You might already have over a dozen shirts but you will be still buying a new shirt or you might have over a dozen shoes and you might still be buying new pairs of shoes.