7 Things That Are An Enormous Waste Of Money

Do you or your partner always splash money out on things that are later considered a waste of money? Do you know what things you should stop buying?

Firstly, I’m going to make two quick assumptions based on the fact you are reading this article and have stopped by at the site.

  1. You only have a limited amount of cash coming into your household every month.
  2. You are in some way interested in achieving financial independence.

Wasting Your Hard Earned Cash

Everybody in the world has wasted money at some point. In this consumer led world there are millions for you to spend your money on.

Depending on your point of view spending money on anything could be seen as a waste of money.

A dedicated football fan going to see his team play every week could be their reason for living. To others this could be seen as spending money watching grown men run round in a field.

Even one of the things that keeps us alive; food, could be seen as a waste of money if you are spending too much.

Working out what to spend money on and what not to spend money on was a question I had to ask. But to who??

If In Doubt Ask Money Writers


There are thousands of people in the world writing about money including your friendly neighbourhood Frugalfox.

Surely some of them could help determine what items are simply a huge waste of money.

And guess what……. they did.

Money Writers Say These 7 Things Are An Enormous Waste Of Money.

  1. Cigarettes

Pia from bigkidlittleadult.com They pollute the air and are quite literally the way to burn money.

Lets Just think about this for one second. You pay somebody a large amount of money to dry some plant material. You will then set this on fire before throwing the end which you can’t inhale into the bin or on the floor.

The smoke produced by the cigarettes makes your house, your clothes and your car smell. Not to mention what it does to your skin, your lungs and your breath.

Smoking is legitimately one of the most illogical things you can do if you are aiming for financial independence. Spending money to shorten your life, whilst at the same time making somebody else rich.

The antithesis of frugal.

2) Actively managed funds

Thefinancialjourneyman.com   “Actively managed mutual funds other than a few offered by Vanguard with low expense ratios

Actively managed funds over a short period CAN out perform the markets. The problem is however that its very unlikely, and over a long period it could be seen as almost impossible.

Why not spend a a quarter of the money (or less) on tracker funds and achieve the same or more likely better results.

3) Bottled Water

Jim from wallethacks.com “Bottled water, regularly. There are many cases where bottled water is best and necessary but when you do it all the time as a default choice, it’s a waste.

Bottled water is a waste of money. There are so many ways around buying bottled water these days. Bottles like this with inbuilt filters can save you hundreds. This bottle filters around 150 litres of water or around the equivalent of $300 on shop bought water. 


Bobble BPA-Free 550 ml Water Bottle 

4) Lottery Tickets

CYInnovations.com “I would say that one of the biggest wastes of money is buying lottery tickets – you just won’t win.

They actually wrote a post about this very subject “The Odds of Winning the Lottery . . .

Personally I haven’t bought a lottery ticket for years although I’m not adverse to a bit of “gambling” through matched betting.

5) Extended Warranties

OthalaFehuWarranties, with one hand they sell you an inferior product, with the other they ask for more money based on the fear that they just sold you an inferior product. Most products are not made to last very long anymore, let the fates decide.

I have never taken an extended warranty on any product and I don’t intend to anytime soon.

In the UK we are protected by the Consumer Rights Act 2015. Basically this means any item purchased should be of satisfactory quality, fit to do the job intended and last a reasonable length of time.

If something breaks in our house it goes straight back to the shop.

6) “Too much house”

Jim from www.routetoretire.com  “More than anything else, I think that this can have the biggest impact on someone’s savings in the long haul. We have a tendency to think that bigger is better or that we need to live in the richest neighborhood, but that hefty mortgage payment can severely cost a family big time in the long run.

Peer pressure or trying to “keep up with the jones'” can have a massive effect on your ability to become financially independent.

Is your house like “living with the enemy”?


7) Eating out

Adventurerich Eating out regularly. Eating out is great on occasion, but the difference between home cooked or home prepared meals and eating out is ridiculous! I buy a dozen eggs for $0.49 but if I try to order eggs at a restaurant, its typically $1.50-$2/egg ($18-$24/dozen!).

This is a difficult one. For my job I get paid to eat out a lot, this causes tensions at home when I never want to go out for dinner with the wife.

We save our meals out for special occasions and when we are on holiday.

7 Things That Are An Enormous Waste Of Money

So there we have 7 things that money writers consider a complete waste of your hard earned money.

You can see find the second part of 7 Things That Are An Enormous Waste Of Money here.

What expenses do you consider a complete waste of money and what can’t you live without? Let me know in the comments below.



    1. Frugalfox says:

      When investing there are passive funds like vanguard where your money is invested across a whole market.
      An actively managed fund would pick and choose individual companies.
      You pay more for this service but the evidence shows with the fees included they generally perform worse than passive funds.
      Hope that helps, if not drop me an email and i’ll explain further.

  1. Chris says:

    Great post. Love the advice about eating out, and of course the lottery tickets.

    @Francesca Actively managed funds are mutual funds where the fund manager is constantly buying and selling stocks inside the mutual fund in order to out-perform the market. Index funds that have a low turnover (very little buying and selling inside the fund) essentially match the market and are usually a better investment long term.

    1. Frugalfox says:

      Eating out actually stresses me out.
      The fact that you pay so much for somebody to give bad service or mess up your order is simply lunacy.
      No worries Jim

  2. Pia says:

    Thank you for the quote! We do love eating out (not takeaway) but at specific restaurants or chasing after specific chefs because we have a deep passion for food and chef skills. But, having said that we have still allowed for just one ‘eat out’ meal a week because it needs to be a good balance between our hobbies / passion vs frugality.

  3. If you are saving for travel, there are so many things you can do without – the cost of a large cup of fancy coffee from a coffee shop can buy a days worth of meals in many countries!
    Keep you eyes on the goal and you’ll soon realise lots of things are a waste of money!

  4. I love Pia’s approach on money waste! Biggest part of the reason I quit myself was becoming aware of how much money is wasted on a product hat literally destroys your health. Deciding to become frugal helped a great deal. I’ve tried quitting many times but nothing worked. Well… knowing how much money smoking costs did the trick!

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