5 Common Practices leading to Unnecessary Waste of Money

Unless you were born with a silver spoon in mouth or you have in your family tree the names of Bill Gates, Warren Buffett, Larry Ellison and Mark Zuckerberg, wasting of money will unquestionably be never an issue. But as chance may take it, most of us, if not all, are the people who are constantly struggling in pursuit of a better life in the future.

Sad to note, there are bad habits we often are unaware of that eventually lead us to gratuitous wasting of our hard earned money.

The following are some of the very common practices we generally don’t think about yet cost us to waste money unconsciously.

01 Purchase of brand name commodities

More often than not, we patronize buying brand name products. We tend to buy goods which we technically consider branded or popular just because it was worn by our favorite actor, or it was used by our favorite basketball player. We often overlook other equally better counterparts of these products because we boxed ourselves in the belief that maybe if we wear the same brand of jeans or we use the same brand of shampoo with our favorite celebrities, we could exactly look like them. Perhaps?

02 Purchase of costly hygiene products

Beauty and personal care products are undeniably expensive. Yes, they are pricey because they are packed with ingredients that are chemically synthesized and designed to transform our skin from a coal dark to a snow white complexion. Woo, sounds really convincing, right? But come on, isn’t the color of our skin hereditary? Well, it’s really more of a personal preference. But if not using these magical beauty products (that burn our wallet out) won’t kill us, maybe we can trim down a little on buying them. Beauty, as they say, is reflected from the inside.

03 Taking up costly health supplements

Then we have these health supplements that promised to bring six pack abs for men and guaranteed to burn the bulging fats into a curvy waist for women. For vanity’s sake, we sometimes fail to notice that taking them up will do us no good without having discipline in ourselves. There is perfectly nothing wrong in hoping for a healthy looking body, but if it leads us to spend beyond our means that is already something unhealthy.

04 Betting on lottery

Tempting as it may appear to bet on a lottery especially if the amount at stake is really huge, but doing so is another bad practice that causes us to waste our money. What if we just save the money we bought for the ticket into something more important? Besides, it is even closer to reality that a man be hit by a lightning than to hit the winning lottery numbers. Why bet for something so surreal?

05 Wasting of food

This is often underrated. Wasting of food is directly related to wasting of money. We need to see to it that what we consume is just enough for our needs. Eating safe leftover foods is a way we can recompense for food wastage. So whenever you have a thing over eating leftover foods, remember this thought from Pope Francis: “Wasting food is like stealing from the poor.” You don’t want to be a thief, do you?

These are just some common practices we often underestimate that in a long run of the process result to a needless waste of money. There might be hundreds more left untold, but the very essence of it all is for us to be reminded that for every bad habit we do, we owe ourselves a lot of money. How about you, do you have something to add up to these bad habits?