These Three Things are a Waste of Money

Everyone has a different opinion regarding wasting money. I have friends and family who don’t consider a new pair of Louboutins a good investment, but I don’t consider it a waste of money considering I can easily afford them. I consider purchasing wardrobe staples that aren’t well-made a waste of money because you have to replace them constantly; whereas buying the designer version is more expensive now, you’ll have it forever. Nothing any of us do will convince anyone else that their idea of a waste of money is always right. However, there are a few things that are always a waste of money for everyone.

Lottery Tickets

It’s fun to play every so often, or to use them as stocking stuffers during the holidays, or to use them instead of a card with a gift, but it’s never a good idea to spend a lot of money on the lottery with the expectation of winning. It’s a waste. Saving your money means you will have more. Spending it on the lottery in hopes of winning and solving your financial problems is a terrible idea. A few dollars a week isn’t a big deal, but don’t be one of those people who spend hundreds on the lottery every month.

Sales Items You Don’t Need

Really, you’re a size two and you don’t need that size eight dress because it’s on sale. I don’t care if it’s on sale for $10 marked down from $590. It doesn’t fit, you don’t need it, so don’t buy it.

Layaway

With the holidays right around the corner, many people are starting to make their layaway plan. This does not save money. In fact, it actually costs more to buy things on layaway than it does to buy them outright. There are hidden fees. Additionally, the price of an item you purchased on layaway six weeks ago is probably at least 50 percent off right now.