Money Black Holes: Avenues to Burn Your Money In

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Last year, the internet world was taken aback by the ‘First World Problem’ campaign. The idea of the campaign (as to how it is generally perceived) is to create awareness about the lavish lifestyle we have carved into our culture in contrast to the needs that challenge the survival of those who live in developing countries.

There are limitless ways to put your money to waste. No matter how small the amount of the salary is, there are always avenues to burn our money in. Some may seem legitimate and good investment, but if you look at them clearly, with just a little effort, you can turn them into little banks you can crash on stormy days.

Lifestyle
The idea to spend on yourself, to treat yourself every payday is healthy. You should enjoy the money you earn. You should get a taste of why you spend so much time at work. But this does not necessarily mean that you get to spend every dime.

Look into what you consume daily. Ask yourself if there is really value on those things you spend on. Most consumers do not put into amount the amount of cash spent on excessive use of cigarettes and alcohol.

On the health conscious side, those no-sugar sodas and over-priced smoothie are simply…overpriced. You can also cut on the cups of tea and coffee you drown yourself with.

Clubs and Membership
No matter how much less-expensive (less-expensive, not cheaper) these memberships are, they are still a waste of money especially if you are not using them. Yes, you have access to their facilities and enjoy the perks they offer, but, you don’t have the time nor the will to use them. It is as good as burning your paper bills.

Shopping (Online Shopping included)
This does not mean that you have to quit shopping. You do need to buy stuff for yourself. However, what costs us extra-money is unwise shopping habits.

Remember that price is usually indicative of quality. With clothes and similar items, this is often the case. You don’t have to spend money on luxury brands (unless you can afford them). You just have to spend on items that match your money’s worth.

Items on sale does not automatically mean money saved for you. Remember that you are still in the marketing world. Make sure that those items on sale are really worth it.

Food
Restaurants and food chains invest all they have on people’s appetite along with people’s vanities. First class restaurants are romantic for dates and appropriate for special occasions. If it does not fit your monthly income, then it should stay that way.

Gadgets
One of the consistently growing industries is the tech world. The discoveries of the bigger companies propel the smaller companies to upgrade their products. This result to technology available to the upper class in the society (in terms of money) and reach the lower classes of the chain.

Besides the confusing specifications, it is really difficult to choose the right gadget with the right price. Another factor is the urge to keep up with what is trendy. Smartphones and tablets opened another world of industry—the app world. Make sure to get the right apps, too. There are many apps to choose from, you really don’t have to spend too much money just to get the service you want and/or need.

You can still add more stuff to this list. When it comes to wasting money, the possibilities are endless.

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