21 Things You Should Never Waste Your Money On
Tae Kim - Financial Tortoise・2 minutes read
Unused gym memberships, high expenses ratios in investment firms, fast fashion, late bill payments, bank account fees, lottery tickets, extended warranties, daily coffee purchases, buying lunch out, and food wastage can all lead to unnecessary expenses that can be avoided through simple strategies and mindful choices to save money in the long run. It is important to research thoroughly, make informed decisions, and adopt frugal habits to maximize savings and financial well-being.
Insights
- Opt for low-cost index funds like Vanguard Total Stock Market Index Fund with expense ratios as low as 0.03% to save thousands in the long run, avoiding high expense ratios that can significantly impact investment returns.
- Create grocery lists, avoid shopping when hungry, and stick to planned items to reduce food waste and save money, as excess food wastage due to lack of planning results in financial losses.
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Recent questions
How can I save money on clothing purchases?
Invest in quality clothing to avoid frequent replacements and environmental waste.
What is a cost-effective way to exercise?
Consider exercising at home using free resources like YouTube videos or investing in home equipment to avoid wasting money on unused gym memberships.
How can I avoid unnecessary bank fees?
Understand account requirements, maintain minimum balances, or consider online banking options like SoFi for fee-free accounts to avoid bank fees.
What is a smart investment strategy to save money in the long run?
Opt for low-cost index funds like Vanguard Total Stock Market Index Fund with expense ratios as low as 0.03% to save thousands in the long run.
How can I reduce food wastage and save money?
Create grocery lists, avoid shopping when hungry, and stick to planned items to reduce food waste and save money.
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