Top 10 Things That We Waste Money On

At Buzzle, a look at the where the money goes. As they introduce the article, ‘Before the hangover of spending fresh, crisp currency subsides, we all have one common question – “Where the heck did all that money go?” Take a look at the top ten things that we commonly waste our money on.’

As we do for every article, let’s look at my pick from the ten, the best in my opinion –

Alcohol and Tobacco

Did you know that you were actually wasting money to get wasted? Yes, we are talking about alcohol. Even after the expensive tags on alcohol served in restaurants, people spend a large chunk of their money on alcoholic beverages, in restaurants, watching a game or socializing at home. Along with the money gone down the drain for alcohol, there is also money gone up in smoke for tobacco. So at the end of the day, smoking costs you, health- and wealth-wise too!
I don’t smoke, but I like my beer. That’s my one vice. What’s yours?
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10 Things Your Real Estate Broker Won’t Tell You was an interesting read at Investopedia. The article starts off with this introduction:

When Americans were asked to rate various professions for honesty and ethical behavior in a recent Gallup poll, real estate brokers rated higher than United States senators, but not by much.

That sets the stage for the rest of this article. Of the 10 points the author made, here’s the one that got my attention:

The broker is not working for you.
This is no big secret, but in the midst of a charm offensive it’s hard to keep in mind. The broker earns a commission from the sale of the property.

If we take this for what it’s worth, the same can be said for anyone looking to make money from you. From the insurance salesman, to any investment advisor, or even your doctor. A sobering thought.

 

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From Rob Bennett’s Passion Savings, today’s Top Ten (although, he doesn’t use either word, he does list ten) is Paying Off the Mortgage Early. I’ve watched the debate go on for some time on this topic, and there are good points to be made on both sides of the discussion. Rob makes his case quite eloquently, no surprise there, I’ve been reading his blog for some time, and whether you agree or disagree with him, you’ll find his writing to be clear and very intelligent.

I’m going to share the one reason that really struck me. No numbers, no math, no investing jargon –

Reason #5–It’s a Marriage Strengthener. What cements a marriage is the things you do together, the things you accomplish over time by combining the power of the different skill sets possessed by the two marriage partners. Don’t you feel good about your spouse when you work together to make a good purchase of a new piece of furniture, first doing some research, then talking over pros and cons of different options, and finally making a decision that you know is the right one? Going through that sort of process helps one spouse appreciate the good things that the other spouse brings to the partnership.

Nice work, Rob.

 

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Tax day is right around the corner, or, to be more specific, right around the weekend, as it’s this coming Monday. With that 12th hour approaching, today’s top ten is a warning to you, the Top 10 things you don’t want to hear from your accountant. It came to our attention from Kay Bell who writes at Don’t Mess With Taxes, and is a reference to the master of all Top Tens, David Lettermen, who offers his tax Top Ten every year.

What’s the worst thing I might hear from my accountant? “Give me fifty bucks — I’ll make your taxes disappear.”
Uh, if you hear this from your tax man, you might just want to shop around.

 

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