10 ways people waste their hard-earned money

Which are the 10 most common pitfalls of modern consumerism?

If you have money to spare, chances are that you have fallen victim to consumerism. Not convinced yet? Check these 10 examples, and see if you’re going to answer “yes” to any of them.

1. Mobile gaming

paying mobile games with a credit card — *Wasting money on mobile games.*

Mobile gaming follows the latest trend of every other modern video game, with their incredibly pricey microtransactions. Usually, those are either useless cosmetics, or the only way to win (P2W). Either way, you’re likely paying too much for something that has little to no value. It’s a virtual world, after all. I’m not saying that microtransactions on console or PC gaming are worth spending your money on either, but at least the DLCs are not always that worthless, and the skins might actually make some significant visual difference.

2. Interest rates

drawing art pushing the word debt from a cliff — *If you aren’t careful, you might end up in a huge debt.*

Normally, interest rates are something you cannot avoid in loans or payment installments. Most people think the final amount is straightforward and transparent without any caveats. However, there are well-hidden interest rates and fees that will surprise you down the road, such as progressive interest rates, delayed payment fees, handling fees, withdrawal fees on ATMs, automated payments on subscription services, roaming fees, etc.

The important thing is to always remember to read the small letters, and always ask your banker/seller for an itemized invoice before you proceed. Just ask them: “How much am I going to pay, including all the interest rates and fees?” This way, they have to truthfully share it with you. This simple step will prevent you from being shocked later.

3. Gambling

gambling with money on the table — *Gambling is the most productive way to spend your money.*

This should be self-explanatory, but people still keep falling for it. Maybe it’s stupidity, or an adrenaline rush. Be my guest. However, no matter how fun or exciting it might be, gambling almost never pays off. The chances of winning are mathematically against you, and yet, you eagerly and anxiously wait for that roulette to stop at the number you’ve chosen. Sometimes you might even win, and be overwhelmed by a feeling of euphoria and exhilaration. However, that’s just a trap to make you gamble more in the future. The ones who set up those games are geniuses, and know that your happiness depends on those brain chemicals you release during those moments. Keep in mind, no matter what you are gambling on, the probability that you’ll lose is always higher than the probability of winning. So, gamble less, save more.

4. Simping

Wojack simp throwing money at wojack thot in pink t-shirt meme — *How could paying girls without receiving anything in return be a bad thing?*

Yuck! This disgusts me the most. Simps are like the “new-gen plague” of our society. If you don’t know what simping is yet, it’s about guys paying girls to provide them with basically nothing. All these girls do, is make sexy faces or say words in a cute manner, and that is enough reason for simps to throw their money at them. Please, stop! It’s embarrassing to spend ludicrous sums of money on girls you’ll never talk to or meet in real life.

5. Luxury vehicles

car hood bonnet eating money meme — *Luxury cars are money pits.*

Luxury cars, bikes, yachts, and whatnot, all fall under the same category: money pits. No matter how expensive it was when you bought it, it depreciates faster than you’ll ever use it. The cost of maintaining anything luxurious, is also sky-high. The ones that own them say that you pay at least 10% of their value each year to maintain it. So, unless you have money to literally throw away, you should never buy a luxury vehicle bigger than your pocket.

6. Expensive hardware

spongebob meme wasting money on a graphics card — *The PC master race cannot accept less.*

Notably guilty, are gamers. Some spend more than $5,000 on a PC to fetch 15 FPS more compared to a $2,000 PC, just so they can feel good about themselves. Similarly to buying luxury vehicles, investing in computer hardware is a big no-no when considering continually evolving technologies. Next year, on the same day as the one you bought your PC, there will be a newer one twice as powerful as yours for the same money. This sounds worse than luxury vehicles, to be honest.

Other illogical hardware investments could include expensive home appliances with fancy features. Like a talking dishwasher, or a washing machine with Wi-Fi. I mean, is it worth paying three times more to watch YouTube videos on your fridge?

7. Online shopping

woman lying on her belly while shopping online — *Nice shopping rush you’ve got there.*

Ah yes, who doesn’t need that product that’s better than its competitor at wasting their time and money? How about those fluid-absorbing wearable socks you can use when you spill juice on the floor, instead of a common mop? Yes, you definitely need those. At least, that’s what you thought the first time you saw them on TV.

We tend to buy things we truly don’t need, either as a “therapy” for our non-existent depression, or simply because we got addicted to shopping dopamine. Next time, just ask yourself three times the following question before purchasing anything: “Do I really need this?”

8. Smoking & drinking

multiple alcoholic drinks — *The more the better.*

What would we do without smoking and drinking? Can you imagine living a healthy life? Me neither.

A pack of cigarettes costs from $3 to $20 depending on the country you live in, without taking into account the medical costs when you get sick from it. The same goes for a glass of whiskey, or anything harmful to your body. Everybody is guilty of this, but the keyword here is “moderation.” One or two glasses of red wine every other weekend won’t hurt your health or your pocket, and you don’t need cigarettes to enjoy life. If you think you do, then it means that there is some aspect in your life that needs improvement, from which you’re desperately trying to find some happiness in the forms of drinking and smoking.

9. Subscription services

This category refers mostly to the subscription services you certainly don’t need, or those you’ve completely forgotten you’re subscribed to. Yes, that can happen too. Did you remember to turn off those recurring payments of the service you subscribed last month to? I hope you did.

Next time, check your card charges and start resorting to some cancellations. Also, consider limiting your cable TV programs to 20 instead of 200. I’m sure you could never watch all of them, anyway.

10. Take outs

a couple sitting on the couch and eating takeout food — *Yummy. What’s that black thing I paid $35 dollars for?*

Sometimes, we might be so busy with work that we don’t even have the time to cook. If that sounds like you, then it’s time to quit that job and start taking care of yourself by eating a nicely made home meal. If your job is alright, and you’re just lazy, then you should seriously think about the money you can save by cooking a meal yourself. Keep in mind that those dishes you eat for $30, can be cooked for as low as $2 at your home. Not to mention how much more healthy they would be.

What else should we add to our list?

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