Are you wasting money?
Everyone’s definition of wasting money is different.
Here’s what I consider wasting money and I hope it will help you determine whether your a money waster or not.
Following Everyone Else
If you buy something just because everyone else owns and wears it or drives it, you’re wasting money. Don’t follow trends, don’t be the person who feels left out when all your friends are talking about the new car they just purchased. Yes, some might be able to afford it, but many times, they’ll freely share news of the purchase but rarely let you into a little secret when they can no longer avoid the payments.
Are You Using It?
I always say if it’s something you’re going to use a couple of times a week or even every day, it’s never a waste. In fact, it can be a good investment. One example could be a food saver machine. Are you going to use it at least once a week, and how much money are you going to save by putting bulk purchases in storage.
Would it be Better to Rent?
Have a one time project where you need say a tiller or scaffolding. It’s better to rent it or even ask families and friends if they can lend it to you for a weekend than spend money and just have it sit in a garage or shed until you move or decide you need the space for something else.
Are You Really Going on That Diet or Healthy Eating Kick?
I know lots of people who say they’re going on a diet and stock up on food they’ve never eaten before. Months later the food is still sitting there, often rotting in the fridge because either they hated it or started the diet and didn’t stick with it. I’ve purchased kale more times than I can remember, thinking I’ll eat it, tried some and really not found it as great as every says and it sits at the back of the fridge withering away.
Make a list of things you think you’re wasting money on and see how you can get on a different path.
P.S. How are you enjoying the videos clips in this week’s posts. Do you prefer them to static photos?