Where do you waste the most money?

    These are my observations on what people waste the most money, I will keep it short and simple.

    1. Food, take out
    2. Going out (restaurants, movies, clubs)
    3. Clothing
    4. Car payments
    5. Credit card debt

    The amount of money you can save on food is very underrated. People throw out large amounts of food per year, which means people have no idea about what portion size is appropriate. If you are not living an active lifestyle or you don’t work in physical labour, you don’t need much food to get by. You don’t even realize how much money you waste on snacks. If you buy one candy bar per day that costs you 1 € per day. That means around 30 € per month, only for candy, and I was being generous with my estimate. The other huge waste of money is take out food. People don’t want or like to cook after a hard day of work so they get food delivery, fast food or eat out. This is such a huge waste of money, I read online, people spent up to 700 $ per month on take out food only! If you use that on grocery shopping, that is easily 2 months of groceries.

    With going out, I can be short because people already know you can save lots of money if you don’t go out to clubs and movies every week.

    Clothes. You have cheap and very expensive clothing, if you got 5 pair of shoes at home, 6 pair of jeans, 20 t-shirts that is considered average today. In reality you don’t wear half of these items regularly. That adds up in the long term. Especially if you are buying clothes for every season of the year.

    Car payments is probably the most expensive one on the list. People love cars. It is the most sold luxury item on earth for a reason. One thing people love more than cars is, new cars. Buying new cars if you don’t have the money on hand is a very expensive mistake. You hear stories from people that buy leased cars and their monthly payment is more than half of their monthly paycheck. If you don’t have extra cash on hand, never buy a new car, you lose too much value. If you have some cash saved up, buy a used car (2-3 year old) it is the best value. You don’t have any money, and you need a vehicle, go buy a beater car. Pay a few thousand for the car, drive it a few years, sell it and buy a better beater.

    Credit car debt is the most obvious one out of all. Debt is never good, the only example to this rule is mortgage. The amount of interest that adds up over the years is what bleeds you over the years, not the debt itself.

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