If you’re looking for ways to save money, you first need to examine your spending habits. Identify where you are wasting your money and cut back and save. A user on the forum asked, “What one thing do you consider to be a massive waste of money?”
Here’s what people had to say.
FUNERAL EXPENSES
“Potentially controversial answer but many funeral expenses. After planning my Dad’s funeral a few years ago, I was shocked by the cost of various things like the casket, flowers, burial plot, and even the funeral home service. I remember seeing thousands of dollars worth of flowers sent by friends/family and couldn’t help but think what a shame it was that they would all be disposed of in a day or two (my Dad also shared this thinking when he was around). Sometimes it feels like the premiums charged for funerals can be predatory and take advantage of distressed families in a rush to plan arrangements knowing the families won’t likely want to shop around for a better deal.”
FOOD DELIVERY FEES
“Blows my mind when I see someone within walking distance, or they have a car use a food delivery app. At least call the place directly and see if they have their own drivers.”
REDDIT COINS
“Yep, I can’t believe people spend good money on those useless little award things that mean nothing to nobody whatsoever.”
BOTTLED WATER
“It has been proven on so many Canadian investigation programs that the water in bottles is no safer or cleaner. It is bottled tap water. We sell it to the US, who turns around to sell it back to us at a premium. Makes zero sense.”
CIGARETTES
“Smoking cigarettes is definitely one of the biggest wastes of money. Paying out the wazoo to lower your life expectancy significantly and smell disgusting.”
WEDDINGS
“The answer should be weddings; it’s ridiculous how much you are expected to pay for various products and services associated with the experience.”
“100%. My spouse and I spent $17K (inflation-adjusted) on our “modest” wedding while we drove $500 cars and were broke. The wedding was good, but it was a $17K 1-day party thrown by broke people. So stupid.”
BUYING NEW CLOTHES
“Buying new clothes while your old clothes are still in great shape. I know you want to hop on the latest trend, treat yourself, planning a vacation, but you don’t have to buy new clothes just for the sake of it. Most of us buy new clothes because we get bored of them.”
GRASS
“The amount of time and money people spend manicuring and making their grass look good, not to mention the amount of water people waste watering their lawn. We could all put some basic skills to use and plant a garden or wildflowers, at least have a bit of usefulness.”
CABLE TV
“There is a lot; I mean a lot of documentaries, free movies, etc., on YouTube. There are many other platforms like it out there as well. Unless your taste in TV is bleeding-edge Hollywood stuff, save money and cut the cable TV!”
COMMUTING TO WORK
“Commuting to work when the job can be done at home. I could care less about eating out or daily Starbucks coffee or the grocery store bill. The majority of expenses come from commuting.”
BIG VEHICLES
“Big vehicles, especially pick-up trucks if you don’t actually need one for hauling or towing. Depreciating assets and many people are financing them with high-interest-rate loans. Most people also don’t need to drive SUVs.”
POP AT RESTAURANTS
“The markup is about 300%. As a chef that has made many menus at many restaurants, I know how to break down the prices. They make more money off of drinks (and not just alcoholic ones) than food. I always get water.”
MOVIE THEATER POPCORN
“The markup on movie concessions is insane. Go to the dollar store first and sneak in snacks or make popcorn.”
CARS
“I don’t think there’s anything more expensive and depreciates more quickly than a car. It’s so damn expensive to keep on the road as well. And there’s a lot of people who don’t need it but THINK they need one.”
PREMIUM GARBAGE BAGS
” You are buying something that its literal purchase is to throw away. Why should I care that it’s drawstrings/scented/extra layers.”
ALCOHOL
“Drinking booze is not only the biggest waste of time and money, but also one of the most detrimental to a person’s overall health.”
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Anika Jindal
Anika is a CPA and founder of What Anika Says. She shares simple and actionable frugal living, money management and money-saving tips to live a debt-free financially independent life. She has been featured on popular websites like Bankrate, Forbes, Mint ,and Authority Magazine. Byline: MSN