« Reader react: Bell has the worst customer service in Canada | Main | Attack on pension plans coming to Canada? »

August 06, 2021

Gyms? Lottery tix? What's your biggest money waster?

I do this thing where I buy DVDs. Not, like, every DVD that comes out, but to the point that if I come across a movie or TV show I genuinely enjoy and would recommend to others, I buy it.

1176253_cut_expenses_3 Is this necessary? Of course not. In fact, as MSN recently detailed, DVDs are one gratuitous purchase you could save a buttload of cash on if you just rented for about one-sixth the retail price. But no, I buy. I am stubborn.

The point is this: DVDs are probably my vice. They’re the one money waster in my life I could rationally eliminate – cold turkey – and save thousands going forward. Will I? Probably not, but that’s not the idea.

The idea is that we all have our cash sappers, and identifying them might be a key step to saving big time green.

There’s a neat article on toting the virtues of gym memberships and how, in many cases, they’re nothing but a drain on your bank account.

You’ve done it. I’ve done it. Gym membership gets bought for at least 30 bucks a month, you go for the first week and a half and then all you’ve got is a near-$400/year decal and conversation piece to hang from your car keys.

The MainStreet piece goes on to offer some tips on how to stay fit without the gym, but the larger picture here is that gym memberships are guilty of being one of the largest money wasters for Canadians in 2010. (Or, is it we’re guilty?)

In any case, here are a few other trivial items we no doubt throw our money at:

-Lottery tickets
-Fast food
-Eating organic produce (noble, but expensive)
-ATM fees
-Extended warranties
-Credit card debt

Any of these sound familiar? If it’s not gym memberships or any of the above, tell us: what are your biggest money wasters?

By Jason Buckland, MSN Money



Post a comment


Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

James HaversJames Havers

James is the senior editor of MSN Money living in Toronto. He has worked for the Nikkei Shimbun (Tokyo),,, Canadian Business and other publications. Havers turned to journalism after teaching overseas.

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...