Stop throwing your money away

September 12, 2019
Whether we realize it or not, every year we spend hundreds and thousands of dollars buying products that we don’t need. And why do we do this? Most often it’s because we’ve been conditioned to do so by big corporations who want us to keep mindlessly buying whatever they’re selling, just so that they can fill their wallets with our hard-earned money.
Stop throwing your money away

So, how about enriching yourself instead of them? Here is a list of 5 products you might want to stop wasting your money on:

Extended Warranties

According to the Consumer Reports website, in nearly every case, extended warranties are a waste of money since these goods rarely break during the length of the warranty. 

Instead, open a high-interest bank account and set aside the same amount of money as you would have paid for the warranty. That way, if - and that’s a big if - that appliance needs repairing not only will you have the money for it, but in the meantime, you’ll be watching your money grow.

Premium Gas

If your car can run on regular gas and you are using premium, then you are wasting your money. In fact, for every liter, you’d be wasting about 20 cents. This might not seem like a lot of money, but let’s say for example that your car’s gas tank is on the small side, about 40 liters, then you would in effect be throwing away about 8$ for every fill-up. At one fill-up per week, within one year you will have generously given away more than 400$ to the fuel companies of your choice. 

Name-Brand Medications

Name-brand medications usually have generic counterparts that contain exactly the same active ingredients, and the latter are sold at a fraction of the price. The main reason name brands cost more is due to their expensive marketing. Are you willing to pay more for the same product just so that some pharma company can cover its publicity costs?

Lottery Tickets

You’ve probably heard that according to statistics, you have a better chance of getting killed by lightning, in any given year, than you do of winning the lottery. But did you know that a majority of lottery winners end up eventually going broke? Since the odds are so overwhelmingly against making it big as a lottery player, why not instead invest that amount you usually spend every month on lotteries? This way, at least you’ll be making a bit of money instead of watching it go down the drain. Again.

Cable TV

If you have cable TV, you probably don’t watch all the stations that are available to you, and you likely find a vast majority of them boring. So why not opt instead for a streaming service that offers interesting content? Doing this will not only significantly reduce your costs, but it will also limit the time you waste channel surfing in the hopes of finding something good to watch. 

And there you have it. Five ways in which you might be inadvertently making someone else rich with your money. Now isn’t it time you started fattening up your bank account instead of other people’s?