10 things you can waste your money on in 2008

On June 4, 2008, in budget ideas, save money, stop spending money, by mitz

No one wants to waste money, however now days, we just can’t help it. Unfortunately all the progress and innovative gadgets we have in our everyday lives increases our living expenses ten fold. Below I have listed a mere 10 items that you can easily waste money on.

Home Mortgage:
Of course this is the big killer. Considering most home loans run for around 20 years, this adds up to a huge amount of interest. If you can pay your home mortgage off quickly, you can save thousands.
Shopping:
Avoid shopping at all costs. Even grocery shopping can be detrimental to any budget. Stick to your list of what you need. Do not go shopping for fun!!! You will often buy items you do not need.
Telephone bills:
Now that everyone has a mobile phone, it is almost impossible to avoid extra phone bills. They are convenient and always have specials deals, but could you do without it? How about just receiving calls and not making them?
Pay TV:
Get rid of it! There is enough to do and see in the world, why spend your time watching TV.
Eating out:
You can feed a family of four for around $200 a week, however one meal at McDonald’s for the family can cost over $30. So 3 meals a day for a week is $530. If you like the cafes and restaurants you can double or triple that cost.
Lottery tickets:
I have heard of people spending $20 a week for twenty years on the same numbers hoping they would come up. Some people are lucky and some are not. If only those people had invested that money and compounded the interest. They would nearly be millionaires.
Movie Tickets:
I cannot get over the price of a movie ticket. I like to wait until the movie comes out on DVD and hire it out. Then everyone can watch it for a mere $6.
Car washes:
Why can’t people wash their own cars? You can turn it into a bit of fun with the family..
Bank Fees:
The banks have really got the fees covered. Interest on borrowed money, transaction fees, monthly account keeping fees, and the list goes on. Find out what fees you pay and then figure out how to reduce them.. Its as simple as that!
Utilities:
We can all save money on our utilities, especially the electricity bill. Turn off un-used electrical items and lights.

Mitz Pantic writes articles for various sites including Fill Your Money Box, Free Computer Help, Tips4pc, Brisbane Computers and more.

Tagged with: save money • stop spending money • waste money

2 Responses to “10 things you can waste your money on in 2008”

Janine Mudaliar says:

January 10, 2009 at 2:30 am

The first item would be excepted, for me. This is for two reasons. Firstly, because owning one’s own home is more about securing money, via commitment, into the future – i.e., one MUST pay the mortgage – whereas, that amount may not be saved weekly if the whole process was optional – and that payment results in real return (which, morally, should never be excessive). The second reason is that, and, overall a home owner paying a mortgage will be ‘in front’ – with something either to rely on and/or to leave to children and grandchildren, etc. (in a time when employment for younger people is much less certain).

There are good reasons, too, to maintain a landline. It does not require to be elec. re-charged – and therefore, availability of service is constant. It can always be FOUND – very important for emergencies (and it just cannot be seriously lost). It is available for everyone in the home, including younge people/children and (o.s. visitors) who may not have a mobile. Having said that, many of the functions of modern l/line sets are probably not necessary, and thought may be given to retaining those that are not, which cost money. Also, people might learn to distinguish seriously between what is mere gratification, regarding the types of mobiles they buy and the services that are available on them, and reasonable need. In the end, both l/line and mobiles might be owned, in modest terms.

The other points listed above are good – but there are so many ways to save money . . washing car in the rain (someone else’s suggestion); eating less (and eating more nutritiously); cutting out body and ‘beauty’ products. [I shower and wash my hair with laundry soap, and, besides my husband’s razor, that is all my bathroom contains. I’ve been doing that for 30 years, and get compliments on my hair and skin, believe it or not! (My hairbrush is in the bedroom, on the dressing table – that is the only thing on the dressing table, apart from bits of material and envelopes, etc. that have been plonked there). The list goes on and on. All consumption could be halved in ‘western’ society in a week, with just a LITTLE thought, and the will, and willingness to let go of just a SOME of our gratuitous living.

Thank you for the opportunity to comment. Please don’t bombard me with lots of ‘stuff’. (Thanks!).

j.m.
mitz says:

March 4, 2009 at 1:50 am

I agree about the landline. It can be very useful and so can a mobile phone, but what about all the unnecessary texting and phoning. You see people in the supermarket talking to someone on the phone, discussing what brand of cheese to buy, or what to have for dinner. Is all this discussion necessary. I think it is a total waste of money.