“Some Of These Might Be Hot Takes”: 52 Things People Should Stop Wasting Their Money On
We all make mistakes from time to time when it comes to spending. We might overstep our budgets or give in to impulse purchases. But these are valuable learning opportunities, so long as we actually do better the next time around, not just promise to try our best.From smoking and subscription services to humongous weddings, the members of the r/AskReddit online community spilled the tea about the worst waste of money they know that some people can’t seem to avoid. Scroll down for their warnings about what you should probably avoid spending your hard-earned cash on.We reached out to G. Brian Davis, a real estate investor and the co-founder of SparkRental.com, to get his thoughts on how to reduce money-related worries and when emotional spending starts to become a problem. You'll find Bored Panda's full interview with him as you scroll down.#1Donating Money to influencers/streamers.JayRam85:Parasocial relationships are so dumb.I've seen people regularly pay streamers $50-300, easily.Image credits: PineapplefrooddudeIf you have a lot of debt, are prone to emotional spending, and spend more than you earn, then you’re not just hurting your and your loved ones’ future. You’re also having a massive negative impact on your physical and mental health. Being exposed to long-term stress is similar to responding to sickness.UCL researchers recently published a study in the Brain, Behavior, and Immunity journal about how stressful experiences and financial strain were detrimental to the healthy interaction between people’s immune, nervous, and endocrine systems.When the communication between these systems is disrupted, our health suffers. For example, we become more prone to various illnesses like cardiovascular diseases, depression, and schizophrenia.#2Brand name baby clothes. Why in the world are you buying your new born a pair of Jordans that he/she'll outgrow in a few months?Image credits: trashboattheraccoon#3As a smoker... Cigarettes are by far the most idiotic addiction I have.NANNYNEGLEY:Me, as well. The whole concept is idiotic. Buy something to intentionally set it on fire? Who does that? And if that’s not stupid enough, to then inhale the smoke produced? Who does that? I do, and have for over 60 years. How am I still alive? Guess I’m too stupid to die.Image credits: bomzzzOdessa S. Hamilton, the lead author of the study, said that chronic stress can disrupt the biological exchange between the immune and endocrine systems, leading to disease.“We found that financial stress was most detrimental to biological health, although more research is needed to establish this for certain. This may be because this form of stress can invade many aspects of our lives, leading to family conflict, social exclusion, and even hunger or homelessness,” Hamilton said.The people who reported dealing with financial strain, the perception that they might not have enough money for future needs, were 59% more likely to, 4 years later, belong to the high-risk group of people who develop illnesses.#4The cash people donate to celebrity ministers.Image credits: Aware_Palpitation820#5Anything Gwyneth Paltrow sells probably.Image credits: Schlumpfyman#6Huge weddings.citizen_et:I know a guy & his wife who took a loan for their wedding, and he had to sell his wedding ring in order to pay back his loan and she still pays her loan on her side.Image credits: vanwithnotanAccording to Davis, there are two approaches to reducing any money-related worries that you have. The first is changing how you think about money, focusing on gratitude. The second is how you actually spend your hard-earned cash, starting with more attention on savings. "They both help, especially when you combine them," the co-founder of SparkRental.com told Bored Panda in an email."On the mindset side, aim to put your focus and attention on gratitude for what you have rather than fixating on what you don’t have but want. That’s easier said than done—as soon as we get one thing we want, we start thinking about the next thing. Remind yourself that you have everything that you need, and then go through subtraction exercises, imagining your life without some of the things you take for granted. You’ll value them more and boost your gratitude for what you have,” Davis explained.#7Twitter blue check.Image credits: ChewbaccaTheRookie#8Adobe subscription. f**k you adobe.#9Sending money to politicians. What the f**k are you doing.Image credits: Cyber_InsecurityMeanwhile, when it comes to the spending side of things, Davis said that a higher savings rate leads to lower financial worries. "Bridge the gap between mindset and tangible spending by looking back at how you used to live five or ten years ago, how much less you lived on. You weren’t miserable then, even though you lived on less. How can you live on less once again without it feeling like ‘sacrifice?’”Lowering your living expenses means that you increase the number of months that your savings could potentially sustain you if you were in an emergency. That, in turn, leads to less overall stress about money.Furthermore, you have far more flexibility in your career if your expenses are lower. "You can go pursue your dream work, even if it doesn’t pay well, as you live happily on a lower budget."#10Stanley cups. I said what I said.Image credits: Affectionate-Main968#11Reiki, Homeopathy, all the other pseudo-science b******t.Image credits: itfiend#12There’s a government website that allows anyone to donate to covering the US national debt. People do it. Image credits: eaglebob1Davis told Bored Panda that another important aspect to consider is comparing yourself to your peers. In short, you shouldn't do this. The reality is that we don't know all the details of a high-earner's life. "They may earn twice as much as you—and hate their jobs. You don’t know how they really feel about their high-octane job or the sacrifices they make for that high paycheck. All you see are the curated social media photos," he shed some light on this.We were also curious to get Davis' perspective on emotional spending. Specifically, when it starts becoming a real problem. He pointed out that it's an issue when someone starts exceeding their budget for discretionary spending."If you budget $300 per month for discretionary spending like lattes and restaurant meals and shoes and clothes, there’s nothing wrong with you spending that money in whatever way brings you the most happiness. That includes emotional spending, such as indulging yourself at the spa or whatever floats your proverbial boat. But when you blow past that $300 because you splurged on emotional spending, you’ve blown your budget. Now you have less to spend on more essential expenses like groceries," the co-founder of SparkRental.com told us.#13Designer and luxury anything.Ambitious_Equal_1603:Designer clothes.You're literally paying a company to become a human billboard for them. Just so you can be associated with wealth and status.No one will care as much as you do about your brands.Image credits: abfukson#14Subscription services to everything is becoming a massive problem that, despite our protests, are becoming more numerous and people just seem to be coming to accept.I even fall pray to it for a few things.Image credits: Onigumo-Shishio#15Outrageously over-priced concerts.Image credits: ToYourCreditIf you’re feeling a lot of financial pressure, your first step is to create a budget so you can sleep more soundly at night. Slow down. Sit down. And go through your expenses in painstaking detail. To oversimplify a bit, you have two main tools at your disposal to dig your way out of this hole: reducing your expenses and increasing your income.The latter is fairly straightforward (if not so simple to do in practice): you can look for a higher-paying job, work more hours, pick up a part-time gig, monetize your hobbies, invest, etc.#16Bottled water.Kirjavs:I lived in a city where the tap water was so healthy that they could legally bottled it. And the city was so bored of people still buying bottled water, that they did bottled the tap water to make them how stupid they acted.But people kept buying bottled water...Image credits: flatstacy#17New phone every year.#18Starbucks.In the meantime, reducing your expenses inevitably means that you will have to adjust your lifestyle. To be sure, this can be unpleasant. When you’re used to a certain standard of living, it can be painful to imagine making any serious changes. Luckily, human beings are very adaptable.You can start by eliminating all of the things you spend money on that have literally no benefit. For instance, you might have signed up for some digital subscriptions that you don’t have the time (or desire) to use. You might have a gym subscription, but it’s been months since you went.#19Chiropractors.Image credits: sideshow9320#20Getting nails and lashes done. My coworkers spend $150+ on nails monthly and $200+ on lash extensions and always complain about not having money.#21Gambling. Especially lotteries.It's never "worth" it from a math/odds perspective, but people continue to do it just for that small chance. It's basically just throwing your money in the trash, and 99.9% of people will never win big. It ends up being a huge amount of wasted money for many people over their life time.Image credits: WonderfulChildOr you might feel so overwhelmed in life that you try to make yourself feel better and feel like you’re in control by impulsively buying things. This can look different for everyone. Some people buy lots of shoes, bags, or clothes they don’t even have a chance to enjoy. Others might buy video games or books at a discount even though they’re too exhausted to get to them. Still, others splurge on dining out and takeaway (cough avocado toast and lattes cough)—the costs of which quickly add up.Whatever your weakness might be, it’s important to identify it and be honest about what this is: emotional spending. It makes you feel good for a moment, but it leaves you feeling hollow later on. This does not mean that you shouldn’t enjoy the finer things in life. However, you should be realistic about how much of that enjoyment your budget allows for. Treat yourself… once in a while, not every day, unless you've budgeted for it.#22The green powders people buy and mix into their drinks.Almost anything the Kardashian family sells (especially Kourtney’s snake oil brand, Lemme).#23Vapes.Started out as a way to help quit smoking. Now most people do it because they think it looks cool.Image credits: jamie9000000#24In app purchases in games.Image credits: Kaya_Tily#25Going out to eat every day. Some people I work with bring in Noah's bagels, or donuts or something nearly every day, then they go out and eat somewhere for lunch every day. Same group talks about the latest cool restaurant they blew $500 on. Crazy.#26I would say many baby toys. You spend a lot of money on flashy, expensive gifts that end up sitting unused, while the child plays all the time with a cheap toy from the dollar store.It's a bit of a cliché, but from my experience, kids often prefer the simple things, like a cardboard box. You don't need to spend a lot of money on toys and games for a 1-3 year old.Image credits: Jacobyspiritbear#27Tipping the cashier when I’m standing in line to place and receive my order. The way they swing that credit card thing around, either you tip or you wonder what they did to your food.Image credits: Traveler_Protocol1#28Is Door Dash / Uber Eats / Grub Hub not on this list yet? I can't believe people are wasting money on this s**t. If you're disabled or sick or something I get it, but that's not who is using these services 95% of the time, and people are always complaining about surcharges! No s**t! Go pick up your own damn food!Image credits: histprofdave#29Tithing.Image credits: TimmyTurner2006#30Honestly, paying thousands of dollars just to keep their old pet alive. Like, I appreciate that they love their pets, but there's a point where you have to realize they are suffering and you should let go. No point in spending so much money so they can live a few more months.#31Any product with excessive vitamin C for health or immunity. Vitamin C is *barely* involved in those processes, and is stupid easy to get your daily needs met with normal food intake. Those products do absolutely nothing.#32Cat toys. My cats seem to prefer empty boxes and the rings off of milk jugs to any expensive toys I bought.#33More more more shoes, clothes, and stuff. Basically we’re over consuming everything we don’t need and yes I just bought another pair of shoes I don’t need a month ago but wanted ?.#34Insurance for small risks. E.g. extended warranty.#35Premium gas unless your car has a high-compression engine.#36Premade burger paddies.Just get ground meat, season ir to your liking and literally press it with your palms. You'll be paying half for 5x the quality.#37Premium social media subscriptions.#38Funerals. In any way, shape and form.#39University degrees with low job demand.Image credits: Yoisnia#40Ultra cheap anything. It's so far and beyond better to try your best and save up for something of middling quality or higher. Wether is be work boots, electronics, car parts, never go cheapest. It's just no worth having to replace them, and it will cost more in the long run.#41Based around last year’s audit, the pentagon.#42Snapchat + (yes I actually know people that pay for it).Image credits: Maturegroundhog#43Expensive Jewelry.#44Home warranty companies.Complete scam. You pay $75-$100 just to get someone to come out for what most likely would cost you $50 to do yourself. Even if you do have a major appliance or HVAC system repair or replacement, you're getting the cheapest s**t installed by the lowest bidder. And for that privilege, you pay them a monthly fee. Put that monthly fee into a savings account for home maintenance and repairs, and you'll be far better off.#45Tinder gold.#46Junk food.#47Some of these might be hot takes.- Reddit premium- most VPN's- YouTube Red / whatever they're calling it now (just use reVanced)- full coverage car insurance (most situations)- Grammar correcting services- meal prep programs- Amazon Prime (a lot of people don't order enough to make it worth it on a non-family account)- self help gurus - any p*rn (OF)- "fat burner" pills- pretty much anything made by Chrysler- every single vehicle oem replacement part manufacturered by Doorman- most sportsbikes#48New cars.#49Soft drinks are a big sinkhole. In the grocery store near me they rotate between the 24-pack and 30-pack on special, if it's not on special it'll be something stupid like $50 for a 30-pack or $40 for a 24-pack and when they're on special they cost about $10-15 less. Since I live with my mother and her and my brother love coke I just decided I'm not drinking this s**t anymore and voila the groceries are quite a bit more manageable and now I can buy treats that I usually wouldn't like brioche buns for burger night :).#50Anything labeled Organic.#51Alcohol.#52Fabric softener. It ruins clothes, towels, and linen and is more expensive than old school nanna hacks.Fabric softener is a con perpetrated by Big Wash!
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