Top 10 Ways People Are Throwing Away Their Money

October 13, 2020 | Emma Frost

money wasting unnecessarily

 

Money is definitely not spread in a uniform way between people. The middle and lower class represent the majority, and the wealthy are just a few.

One interesting fact is that, at some point in their life, some of the very rich were very poor or somewhere in the middle class. This means they were able to make smart decisions when it came to how they used their money. Whether it was making calculated, positive investments or growing their own business, they were able to take their little money and make something big.

Another way they were able to grow their money is by not spending it in unnecessary ways. The good news is, if they were able to think smart about their money spending, we can too!

Avoid These 10 Ways We Throw Away Money

When it comes to spending money unnecessarily, these are the ten most common ways. If we find a way to avoid these – or at least decrease these habits – then we can actually work to grow our money.

Food

This is the number one money wasting method. It sounds harsh but it’s real and you can start saving money just by adjusting your food spending. Instead of shopping when you are hungry, go shopping on a full stomach. Shop for food on a weekly basis and plan your meals. Cook when you can instead of going out to eat. And when you do go out to eat, plan how much you want to spend.

Choosing Expensive Brands

Buying something brand name means you are paying an incredible amount of money on marketing and history. Even if some branded products are of higher quality, most of your groceries can have the same quality while you spend just a fraction of money on them.

Unused Subscriptions

In order to save money you need to be truthful to yourself. Gym subscriptions are a good example. Some people waste money having gym subscriptions that they never use; they just hope on doing so someday. It’s better to pay as you go if you rarely go.

Transportation

Sure, the cost of gasoline may be low at the moment. But this doesn’t mean that using a car to go to work every day, isn’t expensive. You could find using public transportation sometimes can be cheaper.

Not Taking Care Of Their Health

Being healthy is a long-term investment. The cost of medical procedures is extremely high, and bad habits can lead to disease. Medical insurance also has lower costs for people who are in good health.

Smoking

Smoking is one of those habits that takes a lot from you. It takes away health and dental hygiene – and we know how extremely expensive a dentist visit is. It also takes money day in and day out.

Drinking

Having an occasional drink from time to time doesn’t affect someone’s budget very much. Drinking a few bears every day, on the other hand, is just like investing in a hole in your pocket.

Expensive cars

If you are in the middle class but are driving an expensive car – like a Porsche or a Lamborghini – you could be throwing away money you realistically do not have. Having an expensive car is only nice when you have the funds to back it up and maintain it.

Clothes

As with any other product, clothes can be very pricey if they are of specific brands. However, there are many low budget options that provide similar quality.

Gadgets

Did you notice how many people want to buy the latest Smartphone? Can they afford it? Probably not. Gadgets are great, but you don’t need the latest technology that loses its value quickly.

Sure, you can avoid spending your money unnecessarily – just avoid these ten things. But sometimes things pop up that make you spend your money in ways you weren’t ready for. I am talking about things like medical emergencies, sudden home repairs, auto accidents, or even unemployment. If you need to spend on these events, but don’t yet have the means to do so, you could consider title loans in Mississippi.

 

money waste down drain

 

Use Title Loans When An Unexpected Emergency Hits

Mississippi Title Loans are the most well known in this area. Auto title loans are loans that you can obtain when you use your vehicle’s title as collateral. As long as the vehicle is in your name and has a title free of prior loans, you could use it to qualify for fast title cash.

These Are Just A Few Short Steps To Access Title Loans

  • Go to our website where you can find our online form. Fill out the form and wait for us to give you a call back.
  • Answer the phone when one of our loan representatives gives you a call. We will answer any preliminary questions and get some more information from you. We will also give you the list of required items you must bring in with you.
  • When you are on the phone with us, we can either arrange for you to come here or we will go meet you. With either option you still have to bring in your ID, vehicle’s title, and the vehicle.
  • Now you can either come to the title loans location near you or wait for us to come to you. Either way, we will go over the loan terms, check your documents, and see if we can approve you. If we can then we will have you sign the loan agreement and do a vehicle inspection to see how much you qualify for.
  • Once you are approved – hopefully – and your loan agreement is signed, you will either get your money the same day or the following bank business day

As you can see, our process doesn’t require too much fuss. One benefit of title loans is the fact that you can still drive your car as long as you are able to stick to your repayment schedule. With online title loans to help and avoiding throwing away your money unnecessarily, you can begin to grow your finances.