Tag Archives: wasting money

Top 20 Spending Regrets

Spending Regret #21: Investing in flying money
Spending Regret #21: Investing in flying money

Have you ever made a purchase that seemed SO logical at the time? You really had yourself convinced that it was a good investment. Heck, at these prices, you can’t afford NOT to buy! And then, it just sits there on the shelf unused…mocking you. Personally, I have one right now: a certain very famous foreign language program that set me back $600.

If it’s any comfort, we all do this, so much so that AARP has written not once but twice on the topic and compiled a Top 20 of spending regrets. Here are some highlights…

  • First-Generation Technology: It’s just not worth it to be the first one on the block.
  • ‘As Seen on TV’ Products: Anything where they automatically send you two for the price of one, I’d watch out.
  • Elaborate Weddings: Average cost of a wedding is $26,000. Think of the head start you could give yourself with even HALF of that money.
  • Get-Rich-Quick Schemes: If it sounds too good to be true…
  • Prepaid Funeral Plans: I worked in this industry. Yes, put aside money for your funeral. Discuss your wishes with your spouse. But a “plan”? I don’t know.
  • Used Books: Guilty. I have the most impressive bookshelves, and I have read fully one-third of them!
  • Home Party’ Products: One for the ladies. As far as I can tell, simply attending one of these requires you to buy something. That’s a built-in regret!
  • Season Event Tickets: Also guilty. By the time you miss two of the 6 or 7 events, it’s not a value anymore.
  • Things to Get You Organized: Ask my wife; it’s not enough to put all your junk up on the shelf – all the containers have to match! A classic battle of slob-meets-OCD!
  • Specialized Kitchen Appliances: Bread maker, pasta maker, $300 smoothie machine… more like specialized space-taker-uppers!
  • Loans to Family, Friends: This one could have been #1 thru 20 on this list!

And these are just half of the entries. If you don’t want to experience financial regret, check out the two lists, HERE and HERE. How about you? We all have spending regrets? What are yours? Let us know over at the MindField Online Facebook page!

Americans Wasting Money

I hate it when I get to the counter and I only have swirls in my wallet.
I hate it when I get to the counter and I only have swirls in my wallet.

In a piece entitled “10 More Things Americans Waste Money On,” money guru Dave Ramsey suggests that there are 10 things Americans waste money on. Actually, he says 10 MORE, bringing the list to 20 because we are bad people. Here are some highlights, with bonus dumb commentary®!

  • Purebred Dogs: Sure, because “get my DOG BUDGET under control” was my #1 resolution this year.
  • Lottery Tickets… I always thought the phrase “a tax on stupidity” was a bit harsh. Not wrong, but harsh!
  • Brand-Name Medicine: You hold the brand name in one hand, and the generic in the other, and the difference is $3? Sold.
  • At-Home Parties: Some ladies aren’t going to like this advice. Others will be relieved to be able to say, “Sorry, Dave Ramsey told me to stay home!”
  • Singing Birthday Cards: Mom will enjoy it, but will she enjoy it $7 worth?
  • Up-Sizing Your Order: But, if I get the 72-oz Sprite, the girl behind the counter will like me better. I’m not popular enough to “be different!”

I think the important thing to remember is that Dave Ramsey isn’t against you having nice things (a private education, a new car, etc.) He just doesn’t want you to go into debt for them. Anyway, there are more things on the list, and much more detail at the original piece, so check it out!

How about YOU? Do you agree with the list? Are you “wasting” money on them? Let us know over at the MindField Online Facebook page!