11 Money Wasters for Millennials

I recently thought of a few things that I wasted money on in the past but no more. Looking back I wish I could change my spending habits because it was just such a big waste. I made a list of 11 things Millennials need to stop buying to help others!

 

11. Luxury Vehicles

 

It’s understandable you want to impress your friends with a cool vehicle, I get that. But c’mon buying a luxury vehicle like a 2016 BMW 7 series (retail cost of $81K) on a 40K salary isn’t exactly within your means. Don’t waste money trying to impress friends driving a Toyota Corolla.

Image result for car being repo

10 . More Living Space

My wife and me lived in a two-bedroom apartment back in 2014 and the second room was barely used. It stored my dusty couch and a few clothes. Not worth the extra cash a month. Learn from our mistake and be realistic if you need more living space. Don’t get me started on the utility bill to help cool a empty room.

9. Items on Sale

Don’t believe the bright red signs saying 50% off! SO you see a TV on sale for 60%. The TV usually costs $1,000 so you get to save $600 whole dollars. Wrong!!! You don’t save $600 you only spend $400. Spending is spending no matter how much you save.

8. Overdraft Fees

 

That $25 overdraft fee is no joke! If you have an overdraft account on the regular, it may be time for an all cash budget to help save money. In addition, if you don’t regularly have overdraft fees and one does come up no need to stress it. Call your bank to have it removed. Worked for me twice so far.

7. Cable

 

How many channels do you watch on cable? How many shows can you catch on Netflix or Hulu? For me cable was a major waste of money and cutting it out helped us save more. Join the cable revolution and cut it today!

6. Wasted Food

 

Americans waste tons of food, about $165 billion annually is being tossed away. That math works out to $529 per person each year. Waste not need not people!

5. Speedy Shipping

There is a time when you will need to have a order shipped the next day and that is understandable. But don’t waste money on next day shipping for a Donald Trump chia plant or any other item you don’t need immediately. Patience is a virtue.

4. Tobacco

I never smoked before but I have seen how much people pay for a box of cigarettes. Most cigarette smokers spend on average $50 – $70 a week. That is an expensive habit that should be taken out of your life. Saves you money plus the health benefits.

3. Unused Gift Cards

 

Believe it or not but people make a business off of those who don’t use gift cards. If you have a gift card collecting dust re-gift it for others, buy presents with it or try to find something from the store for yourself.

2. Designer clothes

 

Image result for kanye west clothing memes

Seriously? No one needs to wear a T-Shirt that costs $200. It doesn’t matter what profession you are in designer clothes are not worth the investment. Stains can still happen on the regular and the moment you buy it the depreciation hits like a mother f***er.

1. Lottery Tickets

 

The chance of winning the lottery is slim to none. People have a better chance at becoming the president, being the victim of a chainsaw accident or winning an Olympic medal. Don’t fall to the poor man’s tax. Save your money.

Comment below if I missed any other money wasters!

 

 



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