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Do you ever think about how much money you spend on items that don’t stay with you for an extended period of time?
If not, now is the time to start. Women across the globe are notorious for their mindset of “if I see it, I need it” – leading to overspending and wasteful spending habits.
These kinds of bad financial decisions can have lasting effects in one’s life and carelessly spending on items that depreciate quickly will only set us back further in our future success.
In this article, we’ll be exposing the astonishing wasteful spending habits of women and discussing practical methods they can use starting today to cut down unnecessary expenses!
1. Beauty Aids
Among the more common purchases women on the thread self-describe as excessive are the costs associated with beauty aids, including makeup, skincare, hair care, makeup, and supplies for doing in-home manicures.
Spending money on things that make you look and feel pretty is easy.
2. Fine Art
At least one person laments how expensive original art is, writing, “I have some original art in my home–one watercolor, four oil paintings, some numbered and signed lithographs, some photographs. But I would have many more pieces if I didn’t have a strict budget.”
Trying to build a collection on a budget is indeed cost prohibitive.
A knack for spending money on the finer things in life isn’t limited to food and fashion.
For some commenters on the discussion board, the love of jewelry drives them to spend more than they should.
4. Home Aquariums
What started as a small, relatively inexpensive hobby — a ten-gallon tank and one betta fish — has morphed into investing significant cash into a home aquarium system that includes several fish tanks and higher energy bills for someone on the thread, with plans to purchase another fish tank soon.
5. Concert and Music Festival Tickets
The live music enthusiasts in the forum think nothing of paying a small fortune for tickets to see their favorite musicians perform live.
“I’m about to spend a stupid amount of money on a Taylor Swift ticket,” reveals one music fan.
6. Food and Gifts for Others
Rather than spend outrageous amounts on themselves or their hobbies, one selfless spender reveals they save a ton of money by wearing their clothes and shoes until they fall apart, shopping at the dollar store for whatever they need, and driving their high-mile vehicle until it no longer runs.
They take those savings and spend them on meals and gifts for their friends and loved ones. Do you have an indulgence you spend a ridiculous amount of money on?
A couple of horse owners admit to spending between $1,000 to $2,000 a month on the care and maintenance of their horses.
Their monthly costs include insurance policies, boarding, care, and feeding. Spending anywhere from $12,000 to $24,000 a year is a large amount of money.
Quite a few participants in the discussion express the fun they have going clothes shopping, even though they already have a closet full of outfits at home.
One even says, “I buy way too many clothes like I don’t even need them at this point. I’m one person. Why do I own like 30 hoodies?” Others buy clothes they don’t need for the thrill of finding a bargain.
9. Dining Out
Whether buying gourmet coffee and pastries several times a week or routinely having a meal at an upscale eatery, numerous women acknowledge spending entirely too much money at coffee shops and restaurants.
Some of them dine out for convenience, while others do so as a special treat to themselves, even though it can be expensive.
Having a green thumb is why an individual from the online community spends too much money on plants, including “House plants. Outdoor plants. Dirt for plants. Pots for plants. Fertilizer for plants. Rocks and bark to put around outside plants.
Greenhouse for plants. Plant labels. Grow lights. Plant stands. Seeds to grow more plants.” They confess to having something of a plant addiction.
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Here is a complete guide on how to get free gift cards so you can spend less money on the things you buy.
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This thread inspired this post.
I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.