What is a waste of money?

[iris lilies]

Buying the big package of something on the assumption the big size is always cheaper per ounce/unit. Sometimes it's actually more expensive, especially if the small size is on sale.

And on a similar note, don't trust the "per ounce" labels on store shelves. Often they're out-of-date, rounded off funny, or just plain wrong.

psychologically those giant packages are bad for me. I see the BIG supply and am not careful in using it. The only worthwhile expense of our Sam’s membership was in savings of giant containers of dried Parmesan cheese. But that caused me to use too much of it. Not good.

[frugal-one]

Buying the big package of something on the assumption the big size is always cheaper per ounce/unit. Sometimes it's actually more expensive, especially if the small size is on sale.

And on a similar note, don't trust the "per ounce" labels on store shelves. Often they're out-of-date, rounded off funny, or just plain wrong.

Wow... I never even thought to question that and "assumed" it was right.

[happystuff]

Wow... I never even thought to question that and "assumed" it was right.

I never really looked at those and always did my own calculations. Let me use some brain cells - LOL.

[frugal-one]

Wastes for me include (among other things as mentioned) ... not returning things I will not use. I have returned unopened duplicate food purchases with no difficulty. I always return clothes purchased that I realize I will not wear. Lottery tickets of any kind have only been purchased as a gift from the dog at Christmas or some such silly thing. I would never spend wads of money on that or gambling for that matter. Buying DVDs or movies are another thing I would not do since I can get for free at the library.

[Rogar]

Buying something that should last years, but it breaks quickly and has to be replaced. Often while trying to be frugal.

[Tybee]

Spending past that point that Amy Dacyzn talked about, where you have met the need but not gone beyond it.

Needs can be very complicated. My mom, for example, still has in her house the towels that I took to college in 1972. There's not much nap left. I would have bought new towels many times and used those for rags. She did not feel that as a need.

I have a need not to feel that I am not worth buying towels for. That was not what she was thinking by keeping the towels, but growing up, that is the message I got.

So I need to take care of myself in ways that I don't feel deprived--but sometimes that can look like a waste of money.

It's a great topic, btw!

[Teacher Terry]

For years I took all the towels and sheets that my grandma and mom didn’t want. They were sick of penny pinching in their later years. I was glad for the freebies when raising the kids. Now I have nice towels and sheets.

[rosarugosa]

I can't think of any that haven't already been mentioned. As a former long-term smoker, I agree with Catherine that cigarettes are the worst, not only expensive but they make you sick and possibly kill you too! It's hard to think of a worse investment, well maybe heroin.
I think food waste is currently the worst waste of money in our household.

[ToomuchStuff]

IL is right. Waste is largely in the eye of the beholder. I’m not sure anyone has much right to sit in judgment about what others do with their earnings.

Except a divorce judge. I have always found it weird, that they can require parents to save for their kids college fund, yet married couples do not, and the kids are "adults" at 18.

I agree that interest is a huge waste. I always make a point of telling DH how much money went to debt service each month but his eyes glaze over. He's typically fine with interest as long as he has his whatever-it-is he wants. The concept of interest is too abstract for him.

• More than anything, not listening to my gut and throwing good money after bad

In general, a waste of money is ANY expenditure that is not worth your life energy.

It all goes back to YMOYL--what is it that's worth your life energy? What is not?

The way to get interest across, is it is money he no longer has to put towards the next thing he wants?

The next two quoted sentences are kind of an issue for me. The when I no longer am interested in something, verses, is this temporary, or permanent and the amount of effort to either get rid of it or reacquire it.

Buying the big package of something on the assumption the big size is always cheaper per ounce/unit. Sometimes it's actually more expensive, especially if the small size is on sale.

Same thing with books or the free shipping gimmick. Used books were always better for me (bought several for a penny and $3.99 shipping). Free shipping, doesn't always mean the lowest price. Sometimes (things like Amazon, Petco, etc.) it is convenience (your time picking it up, verses having it delivered and when you need it by). That is the old hardware store verses the big box store thing, you pay for it.

psychologically those giant packages are bad for me. I see the BIG supply and am not careful in using it. The only worthwhile expense of our Sam’s membership was in savings of giant containers of dried Parmesan cheese. But that caused me to use too much of it. Not good.

Ah, the old 4.5# they no longer carry.

A part of me thinks having two houses is a waste of money, however, the other part knows I deal too much with Murphy's law and until the estate is settled, I am covering my rear.

[GeorgeParker]

Used books were always better for me (bought several for a penny and $3.99 shipping). Free shipping, doesn't always mean the lowest price. Sometimes (things like Amazon, Petco, etc.) it is convenience (your time picking it up, verses having it delivered and when you need it by). That is the old hardware store verses the big box store thing, you pay for it.

I too have bought used books, and sometimes videos, for a few cents plus shipping because the total cost was significantly less than what I would have to pay locally or the item wasn't available used at all locally. The key is total cost including shipping and how much you trust the dealer to describe the item's condition accurately.

I'm also not shy about walking into Half-Price Books and asking them to order a book/video/cd for me that is in one of their stores in another state. Again the key is total cost including any shipping charges and the fact that I know when I come back to pick up the item I can examine it's condition before paying for it and reject it if it's not acceptable.