Dave Ramsey posted a while ago 10 Things Americans Waste Their Money On, and they are:
- Credit Card Interest
- Deal Websites
- ATM fees
- Overdraft Fees
- Speedy Shipping
- Designer Baby clothes
- Unused gym memberships
- Premium cable packages
- 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.