Sometimes we waste too much money on things we really do not need and then end up totally broken financially. These are certain things you need to think twice before you spend money on.
Is it really worth buying that lottery ticket? Are you sure those overpriced things you can’t really afford will improve your life?
1. Lottery tickets
Yes, there have been people who have won the lottery – we’re not denying that. But winning the actual jackpot is about a one in 24 435 180 chance. You may waste a lot of money on extra tickets – but this doesn’t improve your odds very much.
2. Clothes that cost more than your groceries
I know. It’s not easy to say no to yourself when you see that new pair of shoes or outfit. But, before you do, consider the following: do you need the item of clothing in your life right now? Is it an investment piece that you’re going to wear more than once? No one is saying that you shouldn’t treat yourself or spoil yourself with a gorgeous item or two, but do your research about trends – shop smartly, never on impulse!
3. Year-long subscription services that you don’t really use
A few years ago two friends joined a gym. For the first few weeks all went well – they were motivated and driven to attend.
But slowly and surely a missed gym day became a missed week, and then a missed month – until the pair stopped going.
But they were still paying for membership.
Unless you’re willing to commit to a service you know you’re going to use, avoid signing up for something you’re only going to end up wasting money on. Don’t want to gym but you want to up your fitness game? Buy fitness DVDs or search for tutorials online. Buzzfeed.com has compiled a list of some of the best health and wellness channels to check out, so rather invest in data, if you don’t trust yourself to commit to a gym.
4. Decorative items that won’t pay the bills (Go DIY instead)
Of course we want our homes to be open, welcoming and beautiful.
But, unless you can afford to buy high-end decor features, it’s time to get in touch with your crafty side and go the DIY route.
Make decor items – don’t buy them. And if you’re new to the DIY game, do some research to get your creative juices flowing.
Not only is it a cheaper option, it’s also much more fun.
5. Don’t get caught in the sale trap
Who doesn’t love a good bargain? The problem with sales is that people often end up buying a whole lot of things they don’t need – simply because it’s on sale. Also, because you’re getting it cheap, you convince yourself you can buy more – simply because it’s on special.
In the end, the money you think you’re saving only goes into more stuff, and that defeats the purpose.