Top 5 Ways People Waste Money

[The Common Sense Investor]

Top 5 Ways People Waste Money

The most serious wastes of money are the least obvious and the most culturally normalized.

It's not just shopaholics who waste money. Sure, we all know a person or two who spends money without reserve. You know, the person who makes weekly trips to Target or whose got 40 pairs of shoes or who drives Starbucks stock out of this world with his daily dose of lattes.

Nope. Shopaholicism is probably the most innocuous way to waste money in affluent countries. Why, you ask? First of all, because it's obvious and you know when you're doing it. But second, because we literally have the money to spend. That's why we work, after all, isn't it? Hardly any of us works for food anymore. People in affluent countries aren't motivated to work for the necessities, because one could really live off society and get the necessities. Rather, they are motivated to work for consumer goods: for the plasma tv or the new Ford Mustang.

It turns out that the biggest money mistakes in today's world come in the form of paying for things that you neither need nor get any real benefit from. Without further commentary, here's our top 5 list of ways people waste money.

1. Buying Insurance That You Really Don't Need

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