Top Useless Expenses to Cut
by S.Sridharan, Founder, Wallet Wealth
The most useless expense is buying something you don't need just because it is available at discount
As Mr. Warren Buffet rightly said, if you buy things you don't need, soon you'll have to sell things that you need.
The most useless expense is often cited as buying items you do not need simply because they are on sale or discounted. Other major, avoidable, and largely useless expenses include unused subscriptions/memberships, high credit card interest payments, and unnecessary impulse purchases fueled by emotion.
Top Useless Expenses to Cut:
- Unused Subscriptions: Gym memberships, streaming services, or magazines that are paid for but never used.
- Convenience Spending: Daily takeout, excessive coffee purchases, or paying for bottled water.
- Impulse Purchases: Buying items, clothing, or gadgets just for the excitement of buying them.
- Unnecessary Financial Fees: Credit card late fees, ATM fees, and paying only the minimum on credit cards.
- Redundant Insurance/Protection: Extended warranties or tire protection plans that are rarely needed.
- "Discount" Buying: Purchasing items you never intended to buy just because they are on sale.
- Avoiding these expenses allows for better financial health, reducing debt and increasing savings capacity.
For more details and Investing...!
S.Sridharan, Founder, https://www.walletwealth.co.in/
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Read articles written by Mr. S. Sridharan in Nanayam Vikatan, a
leading personal financial management magazine.
https://www.vikatan.com/author/855-sridharan-s
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