12 Big Money Drains People Splurge on Despite the Consequences

How one spends their money is a personal choice. If a seemingly absurd purchase can bring you joy, it may not be a waste. However, perspective matters as an online community explores 12 things they find to be money drains.

1. Exorbitant Yet Empty Purses

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One member shares how he bought a $1200 purse for his fiancé. However, “she’s used it once in the last 2 months.” While it’s understandable that such an expensive item is reserved for special occasions, it’s hard to justify such a price tag for something you’d barely use.

2. Funerals: A Steep Demise

Funeral Homes
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The death of a loved one is devastating, to begin with, but adding unreasonable funeral expenses in the mix makes matters worse. According to a member, “even the most basic set-up can easily get to $10,000.” The markup on caskets is ridiculous, and burial plots are “more expensive real estate than in the Ginza.” It’s absurd to them that “you legally have to bury someone in one if you don't opt for cremation.”

3. Online Shopping and Retail “Therapy”

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When discussing ridiculous and redundant expenses, one member mentions, “All that garbage you bought from Amazon.” Many fall prey to online purchases, buying countless little things they don’t need. Yet, the advertisement can convince even the best of us. “Get it together, Patrick!”

4. Campers for Sale

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RVs can be a treat to own, thanks to the numerous modifications and upgrades. However, a member finds it absurd that most people spend thousands and thousands of dollars on these vehicles only to be used a few times a year. After that, “they end up in some sales lot.”

5. Weddings: Commemoration Costs

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Many find it concerning that social expectations compel couples to celebrate their relationship by engaging in extravagance and luxury. Often, such lavish celebrations hold little value for the parties involved but are done for performative purposes. However, one commenter finds it worthwhile if the couple spends money to make the day memorable for themselves: “Spending money to make good memories that last a lifetime is worth it for a lot of people.”

6. Children's Designer Clothes: One Size Doesn’t Fit All

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“This gets me so upset,” says a member. They know someone who bought a newborn-size Versace shirt worth a whopping $120. The baby girl wore it exactly once, and as expected, it didn't fit after a week. Kids tend to outgrow their clothing quickly, so such a purchase rarely seems reasonable.

7. New Age Healing, Old Age Scamming

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A member finds the new trend of “energy healing” services absurd. It’s baffling to them how some people pay hundreds or even thousands of dollars to scam artists for “new age” healing with no scientific benefit. These scams prey on vulnerable individuals.

8. Cable TV: Cutting the Cord

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With streaming services rising, many question why some still pay for cable television. While the number of channels may have increased over the years, the content quality has decreased significantly. Hence, the high cost doesn’t justify the poor viewing experience.

9. Food Delivery Apps: Costly Convenience

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Apps such as Doordash and Uber Eats have been on the rise. However, they don’t offer much value compared to pick-up or takeaway. A member shares how they got an email offering them a $25 credit on their order, so they figured they'd try it out. Usually, ordering from the local Chinese place and picking it up costs them about $30. With the app fees and giving the driver a $5 tip, even with a $25 credit, it would have been $26. Might as well pick it up.

10. Luxury Cars: Premium Perils

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“When I see people buying a $60,000 car, I always see it as 1-2 years of retirement money you are throwing away, ” comments one member. This expenditure is not for everyone. An expensive car is never a one-time bill as the maintenance cost is sky-high. Not to mention, the depreciation rates are incredibly high. You’re just paying for the brand name and a few extra features.

11. Ripped Clothes: Brand-New Old Attire

Teen wearing Pre-Ripped Jeans
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A user has never understood the concept of buying pants that already have rips in them! Fashion trends such as ripped and distressed clothing make little sense. Why buy new faded jeans when throwing a little bleach during laundry would do the job?

12. Lottery: Probability Problems

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Lottery tickets are a bad bet as the chances are meager. As one member points out, “Humans are notoriously bad at correctly understanding extremely low chances of something happening, so even when the chance is next to zero, we DO give the lottery ticket credit for its chance, and that‘s also what sells those tickets in the first place.”

12 Expensive Purchases That May Signal You Are Bad With Money

Spending money on things that make us happy can feel good, but it's important to be mindful of our spending and avoid overspending on unnecessary items. Sometimes we may spend way too much, and it can be detrimental to our finances.

12 Expensive Purchases That May Signal You Are Bad With Money

10 Seemingly Expensive Purchases That Are Actually the Smart Frugal Options in the Long Run

credit: depositphotos

Making a big purchase is anxiety-inducing, especially if you're not sure it's worth the investment. A user on a popular online forum asked for advice: “What seemingly expensive purchase is the smart frugal purchase in the long run?” People shared their responses in the comments.

10 Seemingly Expensive Purchases That Are Actually the Smart Frugal Options in the Long Run

10 Truly Dumb Purchases People Actually Paid For

Man regretting about mistake
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Some purchases are the best investment one could make, while others cause the world to roll its eyes collectively. As shared on an online community, here are ten questionable financial decisions people made.

10 Truly Dumb Purchases People Actually Paid For

Source: Reddit.

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