8 Of The Most Common Ways People Waste Money
When it comes to saving money, some of us are better than others. Here are some of the worst ways people waste money. 1. Spending Unnecessarily. Too often, people spend money on things they don’t even need. Billionaire Warren Buffet used a $20 flip phone before upgrading to an iPhone. 2. Buying New Cars Most cars lose 20% of their value once they leave the dealership, and 60% over five years. 3. Dining Out Dining at restaurants should be an occasional treat, not a frequent expense. 4. Daily Coffee Coffee lovers enjoy their daily caffeine fix, but purchasing an expensive cup from your favorite coffee chain can quickly drain your wallet. 5. Drinking Bottled Water. In addition to being harmful to the environment, bottled water is an unnecessary expense when you can simply drink tap water. 6. The Lottery Buying lottery tickets is a poor gambling habit; instead of spending money on unlikely chances for a big payday, it's more sensible to focus on paying off debts. 7. Living The High Life Living beyond your means can lead to debt and high interest rates, so refrain from tapping away at your credit card if you can’t afford it. 8. ATM Fees Using ATMs that aren’t part of your bank’s network comes with extra fees that can add up over time.
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A long shopping season can lead to a lot of spending — and debt. Here are some strategies you can use to avoid spending more than you can afford.
