money management

11 Ways 20-somethings Waste Money

Bottled water
Written by TK

Bottled water

Have you ever set a savings goal and not achieved it?  Have you ever taken out $20 from the ATM in the morning and by noon wondered where all your money went?  I know I have.  The truth is we waste money on things every single day – whether we want to admit it or not.

My motto used to be “It’s not wasting money if I’m enjoying it.”  However now I’ve realized that advice is just not true.  Wasting money is money spent on things we don’t need or really really want.  Wasting money is money spent that could otherwise be saved.

That’s my new motto, “Every dollar not spent is a dollar that can be saved” and I’m in a savings mood.

The next time you’re wondering where your money went or why you haven’t saved as much as you hoped ask yourself if you wasted money on any of these items.

Amazon.  Raise your hand if you’ve ever logged into Amazon just to browse and spent the $50 minimum to get free shipping.  Vast market places like Amazon are a shoppers playground and if you want to save money I would avoid it at all costs.

Bottled water.  I’m all for grabbing an ice cold drink on a hot day, but bottled water is a total waste of money.  I drink a lot of water throughout the day, but it’s in my $1 reusable Starbucks plastic cup.  Paying $1 every time you want a drink seems like a total waste of money.

A bad movie.  There is nothing worse than sitting through a bad movie.  I used to go to the movies on a weekly basis, but after a string of bad movies such as The Haunting of Molly Hartley, Broken City and Gangster Squad I now go once a month or so.

Dinner at a new restaurant.  I hate wasting money on food.  If I spend $2 on a dry piece of banana bread it will bother me all day long.  I much prefer to eat at places I know are good instead of trying the newest trendy hot spot.

Home decor.  Upgrades that add value to your home are absolutely justified expenses, but changing your home decor every few months is a total waste of money.

Custom airplane seat.  Listen, if the plane is going down, it’s going down and your seat doesn’t matter.  Although I may just be saying this because I’ve developed a recent fear of flying.  However paying to reserve a specific seat seems crazy.

First class.  This goes to my point above, I wouldn’t pay to sit in first class but that’s just me.

Vitamin Water.  I absolutely LOVE Vitamin Water Focus and XOXO are my two favorite flavors.  However I don’t think it’s worth $4 a bottle.  I only buy Vitamin Water if it’s on sale.

Fan memorabilia.

The latest iPhone.  I don’t understand people who pay $700 for a new cell phone twice a year just because Apple tells you it’s important to have the latest technology.  I’ve had the iPhone 4s for almost two years and until it doesn’t turn on anymore I intend to keep it.

Designer anything.  I’m not sure why people feel the need to wear designer clothes and carry designer handbags unless designer items are on discount I never buy them.

Do you ever waste money? Photo from Pixabay

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TK

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