10 Things Americans Waste Their Money On

Dave Ramsey posted a while ago 10 Things Americans Waste Their Money On, and they are:

  1. Credit Card Interest
  2. Deal Websites
  3. Appetizers
  4. ATM fees
  5. Overdraft Fees
  6. Speedy Shipping
  7. Designer Baby clothes
  8. Unused gym memberships
  9. Premium cable packages
  10. Daily coffee trips

I agree that some of these are wasteful, for instance #1 and #4.  There shouldn’t be any reason why you should be paying fees on things you could get for free.

My personal experience with the top ten are

  • Credit Card interest – Since I have a balance transfer on my credit card, the company is trying to have me pay interest. I will be paying the remaining balance this month so that I won’t have to deal with that anymore.
  • Deal websites – I don’t shop on deal websites, but I do occasionally take part on deals when it comes to getting cheaper quality clothing. I like to shop at H&M or take advantage of workout clothes from Hylete.
  • Appetizers – If and when I go out with my wife or friends, sometimes I’ll order an appetizer as my main dish. It comes out faster and it’s generally cheaper than a whole meal.
  • ATM fees – I don’t pay these ever.
  • Overdraft fees – I have an overdraft account that helps me speed up the process of paying down my debt.
  • Speedy Shipping – normal shipping is fine for me. I’m not in a rush for immediate gratification.
  • Designer baby clothes – I don’t buy these
  • Unused gym memberships – I go to Crossfit a 3-5 times a week. So my membership is fully used.
  • Premium cable packages – My wife pays for Netflix, and I tend not to spend too much time watching TV.
  • Daily coffee trips – I don’t drink coffee

What do you think of the list above? How do you compare to what Dave Ramsey thinks people waste their money on.

Author: Michael Subido @ Personal Finance in Paradise

my name is Mike and I live in Honolulu Hawaii. Living in paradise has his trials money happens to be one of them. I've had my financial problems, I've probably gone through all the major ones including student debt, credit card debt, dealing with creditors, and cosigning loans. I found myself in about $66,500 in debt in 2010 and over 28 months I had paid off close to $40,000 of debt making about $25,000 a year gross income. That's pretty hard to do considering the cost of living in paradise. After that I was able to purchase a car in cash, put away some savings, and also get married. What I want for you is to learn from my experiences so that you do not make the same mistakes. I heard it said that smart people learn from experiences and wise people learn from others experiences, and my goal for you is to become wise and teach others to be wise.

5 thoughts on “10 Things Americans Waste Their Money On”

  1. Thanks for the great post, very true! I steer clear of those. I do buy appetizers but the times I’m at restaurants that offer apps is down to probably 5 times a year. So if you hardly ever go out to eat, it’s kind of a nice treat.

    Like

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