What's The Worst Way To Waste Money? (Finance Stories r/AskReddit)

#Reddit #AskReddit

[IAmEzrael]

Worst way to spend money: Buy clothes for your cat. The cat wont wear the clothes, will hate you, and then claw your eyes out.

So not only do you waste money, but you need to spend more money on a lovely trip to the emergency room

[Pocketraisins]

Years ago I had a friend who had $300.00 in his pocket. He bought a designer wallet for $290.00 +tax. I asked him why he bought it and he said to put his money in. I reminded him he now didn't have any money to put in it. He stood there gears turning till I walked away. He then returned the wallet.

[LivingDeathGuy]

My sister takes herself her two kids, her best friend and her three kids and her best friends step brother and his 4 kids to Disneyland ($1300 a trip) and she’s on food stamps, unemployed, dropped out of high school and never went to college, has at least four unpaid loans and a dozen unpaid overcharged credit card. She goes to Disneyland at least once a month.

[entertainmentforall]

Went to management training with a group of 20 or so people. We were all given a stipend the first day for food ($800) for the entire 3 weeks we were there. 1 of the guys was broke on the second day because there was a strip club about a mile away, 2 others bought a brand new iPhones, and one other guy bought enough food to grill out for everyone in the class for 3 nights. My buddy and I saved almost all of ours by being frugal.

[karaoconnoraliasraidra]

I've heard of parents spending great amounts of money to throw lavish birthday parties for children who aren't even toddlers yet. The children aren't going to remember the party. The parents will tell them years later what a blowout their party was and they won't care. It may be to impress other parents, but odds are good it'll just get scorn and derision.

[_undefined]

1000s of happy couples buying engagement rings.


Source: I'm a jewellery designer

[RickyOHD]

Man these make me feel better about bad purchases I’ve made lmao

[johndef]

Extravagant weddings that put you and your family in debt. If you can afford it go nuts. But if you cant you are better off going small or using money for say a house. Debt is no way to start your married life.

[Huwberts_Emporium]

I let a friend of a friend who came into a very large amount of money use my PC to impulse buy a £4500 massage chair, it never fit though the door of his house so it just sat in his garage. He's actually homeless now.

[qpcb]

Like this to say "Stay plump Mr. Beagle"

[montieluckett]

First rule of money: However much you make, spend less.

[Wolfphototech]

75% of Government spending and my massive video gaming collection .

[TROOPERfarcry]

"Vasking" .... that's the winner so far. Happens at the 7:00 mark

Reminds me of Saudi Royalty competing with each other to have the lowest possible number on their vanity plates. In 2016, one of the competitors paid $9, 000, 000.00 to purchase "5". There are actual people dying of starvation in Dubai, and that dude has "5". I've been through there a few times, and the mall is absolutely fabulous... the Borge Khalif is something to see. You'll see crap-mobiles at a red light right next to the highest end Ferraris and Lambos. But the saddest by far... homeless children. But at least that guy has "5". So there's that.


(edited to clarify) I was passing through. Military.

[invisi-bullexploration]

I might get a little flack for this but: Hardcore PC gaming. You throw down 2000 dollars to be able to play the latest games and have them not look like ass. Then, sometimes as early as two years later all the new games will look and play like ass until you slap down another 2000 dollars. Especially the video cards. NOTHING is future proof or even future resistant these days. It used to be something like 800 dollars could set you up with something nice. But now everything is 4K and oh-holy-shit those card prices tho. There's not much you can do with an old system either. Nobody is going to want it if it's got 3+ years on it. And if someone does it would be like 20-75 dollars at most. You end up binning the whole thing. The rig you'd sunk all that money into. Literally nothing is reusable in whatever new system you are trying to build. It's a Hell of a racket.

[hawkpaul]

Surely anyone who buys designer clothes or bags is spending more money than something is actually worth. I think shops that sell 'designer' stuff should be made to have a copy of The Emperor's New Clothes posted on the wall. Also expensive watches. Cheaper ones tell the time just as good. Saddos!

[SirPoppy]

This video actually made me sad, realising how stupid people are and how many people get taken advantage of.

[RegularInvader]

I've seen girls from my high school who claimed expensive clothing was better so they would only shop at whatever stores that were pretty pricey. It's hard to say if they kept it up because college life obviously was tough on them when it came to money.

[EndlessSummer]

Oh my God, that story about the woman wanting to send KD to France because her grandchildren wanted it... sure, a waste of money. But that's still fucking adorable.

[TROOPERfarcry]

Back up: 16:44 -- "US Military paying contractors for things that service-members can do."

Yes, this is PARTIALLY true. But swelling the ranks of enlisted in order to get more gate-guards doesn't make as much sense as it seems like it would. A service-member may not have a whole lot of monetary pay costs associated with them, but dental, vision, housing allowance.... and then a pension? The math on hiring a contractor to stand the front gate does make sense. There are also some missions that need more continuity than service-members can provide; orders are almost always 3 years (sometimes less), and having a civilian in that position helps to prevent the problems associated with constantly swapping out the person-in-charge. Additionally, keep in mind that we're talking about CONTRACTORS, not GS or GGs. Meaning that if there is no longer a need for that position, it can be terminated; you can't do that with a GS-12 or an active-duty service-member.

That said, there are some times when a contractor is used for a task that is inappropriate, and vice-versa, so there is room for improvement. But the over-arching theme does make sense.

[karaoconnoraliasraidra]

Don't ever spend a lot of money on people who are supposedly your friends because those people will leave you the second you can't give them money/gifts anymore. A real friend will be there even if you don't have two nickels to rub together.