What is something you deem a complete waste of money and don’t understand why others spend theirs that way? I’ll go first—a brand-new car. It depreciates when you drive it off the lot, has ridiculous payments, and costs you more in insurance. I don’t get it. After someone asked the internet for other examples, these are the top-voted money wasters.
1. Designer Clothing and Accessories
Designer clothes, accessories, and handbags are the number-one-voted response. Someone suggested, “Look at me; I spent 20x the money on my bag, ironically less practical than your $20 bag.”
Another confessed an irritation from within before explaining his wife bought a Louis Vuitton bag. He looked at it and could not understand why anyone would pay more than 20 dollars for it. “It was a sack. No pockets. No outer zip. No organization. It’s simply a bag.”
2. Cigarettes
Smoking cigarettes is a nasty addiction responsible for 480,000 deaths yearly in the United States. Several people in the thread volunteered how great it felt to quit smoking cigarettes.
As a former smoker, I will too! I went from $3.75 each day to over $10 a pack daily before stopping six years ago. In addition to it being a massive waste of money, I’ve stopped having bronchitis twice a year. I haven’t had it since.
3. Herbalife
Herbalife, or any MLM product for that matter! It is a complete waste of money and a predatory scam. One woman shared that as a teenager, yes, a TEENAGER, she was conned into using their products because they were “life-changing” and would help her lose weight and overcome her depression- the audacity. This kid was in high school.
4. New iPhones
Is fast electronics a thing, or is it only fast fashion? People who buy a new iPhone, or any phone for that matter, spend thousands of dollars every time they drop a new one for “slightly better cameras and minor design changes.”
Here is a side tip for you. As someone who was a cell phone store manager, I know they are commission-based. However, some don’t pay out on devices and instead pay for lines of service.
So if someone tells you that you have to get a new number or can’t port your old number over, they are lying and want to make a commission on the new line of service. It’s also why they are adamant about pressuring you with free tablets because they get a commission on the line of service.
5. Ink Cartridges
Ink cartridges are a massive expense. One Redditor suggested, “It is a serious crime against humanity how printer companies get away with this insanity.”
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6. Extended Warranties of Any Sort
Nobody confessed to buying extended warranties. However, about 8000 social media memes immediately flooded my mind at mentioning “extended warranty.” Did any pop into your head too? One person explained their reason for not purchasing them: they struggled as hard as insurance companies to avoid paying them.
7. Take Out and Food Delivery Services
After realizing that eating out and cooking at home result in two different outcomes regarding finances and health, many are shocked by how much money others spend on dining out and food delivery apps. Additionally, there is no way of knowing what you’re consuming at a restaurant versus having some control when buying products, educating yourself, and reading labels.
8. Throw Pillows
Why are throw pillows so expensive? And they always have cute stitching or sayings that pull you in, but I am not living, loving, or laughing at these obscene prices. A woman in the U.K. decided she would buy the fabric and cotton and make them herself before paying 100£ ($121.25) for them at the local shops.
9. American Mint Commemorative Coins
American Mint Commemorative Coins made Reddit’s list of utter wastes of money. Oof. My grandparents would be sad to know this. But I love the sentimental value behind mine, knowing they were hoping and wanting the best for me.
10. Psychic Readings
After someone said psychic readings, one Redditor joked, “We knew you were going to say that.” It got a small chuckle out of me. How about you? Nonetheless, many people agreed with the sentiment, while others admitted after having tarot readings, they overcame their skepticism.
11. Horses
Several users noted the overwhelming expense of maintaining horses before one joked, “But they seem like such a stable investment….” Another confirmed, “I’ve heard it straight from the horse’s mouth.”
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12. Political Donations
Finally, Redditors confessed they wouldn’t spend money on political donations. One clarified he would not give money to some lying politician to spend on trashy political advertisements that bash each other. “I don’t think so, Tim.”
We hope you enjoyed this Reddit discussion about things that are complete wastes of funds. This article is inspired by the internet and does not necessarily reflect the views or opinions of Wealthy Nickel.
