Who among us could swear that they Don’t remember how they lost half their pay check? whether it was one of those late-night online shopping sprees at 11pm or when you hit the supermarket hungry and suddenly you think you need every item out there. Whatever it is, we all have -in some way shape or form- expenses that we Don’t really need and which end up taking a sizable chunk of our budget that could have been better spent elsewhere. Well we’re about to find out the top 9 of those expenses. Let’s do this!
1. Electronic gadgets
This is affecting people of all ages but more particularly the Younger ones, we know ourselves, we are guilty as charged. And if you disagree with that, let me ask you this, did you ever ask yourself 10 years ago: “you know what I’d really need? a Watch that tells me everything going on on my phone so I Don’t have to take my phone out of my Pocket” ten years later, you probably owned one or multiple smartwatches or at least want one. I’m not saying by any means that smartwatches are useless or that you shouldn’t buy any new gadget; but if you do, just make sure your purchase decision will be need-based and not just infatuation and certainly not with a Pokemon-ish “Gotta catch’em all” attitude.
2. Single-use Products
Sometimes, on wild days of the month for boys and girls alike, we get these weird very intense urges about Something. Whether it’s makeup, clothes, beauty products, you name it. You crave it like Nothing else, and then once you use it once or twice, then it’s on to the archives for it to be never be used ever again. You and I already know that this is only poking a hole in your wallet and it has to stop, but we both admit it’s very hard, because sometimes you just can’t help it and when you see it you think you want it for life. But that doesn’t end up happening, does is? Therefore, let’s pull it together, and next time this happens, let’s give ourselves a proverbial or physical slap (if need be) and remind yourself of the countless times you’ve done this to yourself no matter how often you think this time is different. It’s not.
3. Expensive Pet Accessories
Okay, I’d hate to play the devil’s advocate here and deny from giving your favourite furry friend the best you can afford whether it was toys, housing accessories, that fancy new litterbox, etc. But a part of what’s amazing about our lovely pets is that they are just happy to be with you, and almost anything would excited them for hours on end; and the best source of excitement there ever was and ever will be for them is you, their favourite ‘hooman’ on this entire planet. So, if you want to treat your pets better, get them what they need, but also give them your attention and affection; and they will surely reciprocate it tenfold.
4. Expensive Workout Equipment
So you’ve finally made that new year’s resolution and decided that this year is going to be your year, it’s going to be the year you will finally get (back) in shape. On the first days of the new year you go out with your new year-new you goal-oriented spirits and you get the ball Rolling and you start with buying all the Equipment you need. Clothes sneakers, protein shakes, the whole nine. Only to run out of that Momentum that you thought was going to last you a lifetime, now all you have are reminders of that Failure both in your house and in your bank account. Therefore, it’s better to start off with a month signup at your local gym and head on from there one step at a time.
5. Shopping During Vacation
When you think of vacations, you think of exotic beaches, long walks, romantic dinners; but you also think of shopping sprees, expensive souvenirs and all sorts of funky looking things that you would never get elsewhere. Therefore, you end up blowing all your cash cushion and having to pay for extra luggage on your flight back only for whatever you bought to join the archives along with that killer outfit from 2013. Do yourself a favour, when you go on vacations, focus on experiences, not things. Your wallet will be eternally grateful.
6. Buying Unnecessary Decoration/Furniture
Another trap you and your money can fall into pretty easily can be hardware and home decoration stores. With their long and confusing aisles, and the endless options in almost literally everything. So you end up instead of buying only the superglue you came in for with 5$, you end up going away with a 300$ bedroom setting keeping in mind that you live in a 150$ a month studio that probably cannot even fit your new bedroom. Therefore, next time, just set up your shopping list, look up the prices, get the exact amount with you in cash ( plus a little cushion if you want to be on the safe side) and go buy what you want and get out. You’ll thank me later.
7. Going in hard with a new hobby
So you’ve fell in love with a new interest or hobby -whether it’s table tennis or esports racing- so much so that you went to the store ( online or physical ) and you went ham on all the Equipment needed, spending hundreds, nay thousands of dollars on the new rig or the new set. Hold on there, tiger(ess), I know this interest of yours is making you happy ( perhaps happier than you’ve ever been) but is it Worth all that much at once? you still have to worry about things such as -you know- food, clothes, transport. With that in mind, you’d want to be smart about your decision, firstly about starting slow and purchasing the Equipment fitting to the beginner that you are, then buy them gradually. Start with the essentials and work your way up and upgrade as you go and as you get better.
8. Outdoorsy Equipment
Still in the same line of ill-advised Equipment purchases. This one is for outdoor use; it follows the same logic as the workout Equipment point but -unlike that last- it can come at a much heftier price. For example, that lifelong-dream of yours to Always go biking on the Grand Canyon (if you’ve watched 127 Hours and still want to do it, I salute you) so you end up buying a 2000$ bike which will spend most of its days just being hung on the wall of that very same 150$ a month studio you call a home. Do yourself a favour, start slow, and motivate yourself bit by bit; what’s consistent even if it’s little is better than what’s grand but quick to fade away.
9. Ill-advised Investments
If you’ve saved up a few bucks through the years or if you have a bit more to spare on you and you’re thinking about investing it in order to make more money out of it; then out of nowhere comes that shady friend and/or relative telling you about that new & upcoming cryptocurrency that’s going to make bitcoin look like peanuts in no time or about a boat for sale at a steal price which you would be a fool to miss. And although you are very much aware of the shadiness and credibility of that person, but you decide to give him/her the benefit of the doubt and put those savings in. In case you Don’t know this already, chances are that will turn out to be a bad decision in retrospect. And the only thing worse than regret is regret whilst being poor. I’m not saying not to invest, by all means, but there are much more credible, lucrative and well-thought out ways of making an investment decision than just a simple word of mouth from a weasel of a person.
There you have it! we’ve discovered together some of the ways your money can be wasted without you even knowing it sometimes, now you get to walk these streets with a smarter mind and safer Pocket as well. so spread the word amongst your peeps and let us know what you think in the comments!