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.
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 MainStreet.com 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
-Cigarettes
-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
Posted by: Dave | Aug 7, 2021 1:45:13 PM
Car Insurance....
Why do we pay premiums to hedge risk on an asset which we know will decline in value with 100% certainty ?
Posted by: Doug | Aug 8, 2021 8:09:39 AM
Biggest money wasters...Razor Blades
How do these company's even remotely justify the premium price the ask for a little piece of steel and plastic?? It would be interesting to see how much it actually cost to produce and what the mark up is.
Posted by: Shannon Stewart | Aug 8, 2021 8:49:35 AM
Mine is groceries. I have taken the time to examine my grocery bill. It has inflated by thirty five percent just in the last year. I used to pay 1.50 for a loaf of bread and now I am paying any where from 2.50 to 2.79. I honestly cant understand the giant inflation on the cost of food but have taken steps to save money by buying fresh from farmer markets and looking at flyers and using coupons when I can, Buying less premade foods and making more at home.
Posted by: a cheap woman... | Aug 8, 2021 10:32:21 AM
I would agree with razor blades...except it is so much cheaper than going to a salon for a bikini wax. So...for a woman, razor blades are actually very cheap.
I hate wasting money...although I'd have to say magazines (that look cheap at the time) just before checkout at the grocery store. They get me almost every time, although my thinking afterwards is always..."that was a waste of money."
Posted by: Money Mizer | Aug 8, 2021 11:35:39 AM
I have a favorite saying re shopping. "Looking leads to wanting, wanting leads to buying". If you don't need it don't go looking!
Posted by: Andrew | Aug 9, 2021 12:34:08 AM
Cell phones and car insurance. The Canadian monopolies have us where it hurts.
I don't know if I can agree with the statement demoting the value of organic produce. Much of it is the same price as regular produce and the 'nobility' statement is only half the matter. Eating healthy food is an investment.
Posted by: rick | Aug 9, 2021 1:41:54 AM
a famous coffee chain that I frequent; how much did I spend there last year?? hmmmmm...I'm afraid to know.
Posted by: Jonathan | Aug 9, 2021 12:39:37 PM
I will add to this list: eating out, drinking in bars and coffee shops to some extend. couple of a years ago I started making most meals at home including my lunch for work and pretty much stopped going to bars, I still buy 2 coffees a day. I found myself saving about $150 to $200 a week, just couldn't believe it. And my health got some benefits as well, lost some weight in the process without even trying.
Posted by: d | Aug 10, 2021 6:21:52 PM
coming to canada to study english
Posted by: Zionist media control | Aug 12, 2021 2:17:16 PM
TAXES. That's why I started doing CASH deals (receiving as well as giving) after July 01, 2010. I figured if McGuinty was going to steal an extra $6.00 EVERY time I fill my tank (not to mention heating my home), I'll "steal" the income tax I'd ordinarily declare from my business. I'm actually making a lot more money since the HST started robbing most others in Ontario.
Since we pay more than 50% of our income in one form of tax or another, this is the easiest way to save OUR money.
Posted by: don | Aug 13, 2021 6:40:16 PM
Zionist media control. Good for you. I hope you bypass every hospital when you are sick. i hope you walk on by every traffic light because you dont want to help build or maintain the roads. Things like unemployment, GST, Child tax benefit....i am sure you would never file for them or collect one. Student loans or childern in school....i imagine you home school if that is the case and ask for nothing. To many people draw and dont feel they should contribute. Crooks come in many forms. I agree taxes are to high but you doing this, just ensures honest people's tax bills will climb even higher. thanks a Lot.
Posted by: Fay Gorbous | Oct 14, 2021 5:15:30 PM
Good for you Don - its time someone told these people what life is all about