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Financial Drain-mageddon: 10 Money-Siphoning Habits That Are Hemorrhaging Your Hard-Earned Cash

We’re all human, and it’s natural to indulge in occasional splurges, whether it’s the latest tech gadget, designer clothing, or a delectable meal.

Here is a list of the top 10 things many people buy and waste money on. A Redditor asked what is something many people buy but is a waste of money. Here are the top responses. 

1. Expensive Baby Apparel

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“Buy used as much as you can. My kids had outfits they wore once before outgrowing them,” said one.

 “Hand me downs from older relatives whose kids grew up just before your kids are the best. Then hand those down to your younger sibling (or cousin, niece, etc.). Young kids rarely wear them out.” said another.

Related: Sell Other Clothes And Make Money

2. Cigarettes And Alcohol

drunk husband

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“I smoke cigarettes, and it’s a total waste of money. One word: addiction.” a user said. “I recently cut alcohol out and transfer what I spent every weekend to my cash app account” added another. 

Related: Debunked: 19 Frugal Myths That Don’t Actually Save Money

3. Games Purchase

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 “I messed up by downloading Candy Crush during 3 days with an empty house and 3 days off work. $60 later, I deleted the game.” said one.

4. New Designer Items  

Feeling at war with herself.

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Thrift stores can be another great place to find purses.” the user shared.

“My husband bought me a designer purse. With regular cleaning at the dry cleaners and using saddle oil, it’s been 8 years and still looks brand new. I wouldn’t have gone out and bought it myself, but apparently my husband was sick of me replacing purse’s because cheap ones break down fast. Every year I was buying a new one. Now I go on Poshmark and buy cheap designer bags, then refurbish them and good as new.” said one.

5. Caskets

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“Caskets. Do you really need to spend a small fortune so a dead person is comfortable on the ground.” said one.

“Seriously. I just want a plain wooden box. Maybe let my loved ones write prayers and goodbyes on it with sharpies. Then they can bury me or cremate my box and all.” said another.

6. New Cell Phone Every Year

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“The newest cell phone every year.” a user said.

“This! I’ve had two smartphones for over 10 years, and I held onto my iPhone 5 until I couldn’t use all of my apps anymore.” another shared.

7. Food Delivery

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“Food delivery. It adds up so quickly.” the user said.

 “I always think my friends are going overboard getting delivery on like a cup of coffee.” said another.

“Not to mention that services like GrubHub and Doordash actually have higher prices than if you order directly from the restaurant for pick up. That’s not even taking into account any service/delivery fee.” another added.

Related: How To Make Quick Money In One Day

8. Bottled Water

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“Bottled water IF you live somewhere with drinkable tap water” said one.

“THIS!!! I’ve done everything to get my family and many of my friends to stop using them, including buying them filters and cute water bottles 🙁 It’s the easiest way to cut down plastic use, and I’ve saved so much $$ since I’ve stopped purchasing them.” said one.

9. Faux Leather Boots

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 “They will peel really quickly, and once it gets like that, you can’t just give them a polish like real leather. You are better off buying used leather boots.” a user said.

 “You get them super cheap. I find pricey boots for a buck at the thrift store, wear them until they fall apart and recycle what I can. Usually, last me 1-5 years.” said another.

10. Big Fat Weddings

makeup wedding

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 “This is a good one! I was SHOCKED to hear my brother spent $22k on their wedding. They are kind of financially struggling now, a year later. Just can’t get over spending that much for ONE DAY.” said one.

“The sad thing is that 22k is considered a budget wedding these days.” said another.

We hope you enjoyed this Reddit discussion on what is something a lot of people buy but is a waste of money in your opinion?.

12 Cities in the U.S. That Are a Total Nightmare to Live In (or Visit)

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Looking to relocate? Here are 12 cities in the US where you might want to avoid setting up roots. These cities are plagued by problems like high crime rates, poor infrastructure, and a lack of affordable housing. Read here.

15 Things We All Need to Stop Buying. It’s Total Waste Of Money

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To save money, reduce clutter, and help the environment, here are 15 things we can all stop buying

15 “Non-Religious” Cults That Almost Feel Religious. Are You Guilty Of Being A Part Of Any?

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So many fads are turning into some “divine” stuff people follow with an “almost religious” devotion. Here are 15 non-religious cults that feel like religious ones.

15 Physical Traits That Might Make You Less Dateable

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Physical attraction is an essential factor in many romantic relationships. However, it’s important to remember that everyone has different preferences. Read here. 

The Exodus: Why People Are Leaving Religion in Droves

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Religion is a personal and complex topic, and there are many reasons why someone might turn their back on it. Read why people are leaving religion.

This article was originally published on Mrs. Daaku Studio.