How to be a penny-pincher.
The twenty-five biggest wastes of your money
Now that you know where you stand as a penny-pincher, look at this list of shame and see if you ‘ve fallen victim to any of these money wasters:
- Lotteries
- Buy8ing a new car every few years
- Anything that’s “new and improved”
- credit life insurance
- investing on the advice of someone you’ve never met
- fancy restaurants
- buying something on sale that you don’t need
- courses that teach you how to buy real estate for no money down
- optional cable television services
- investing in something you don’t understand
- life insurance for children
- spending vested pension benefits when you change jobs rather than rolling them over into an IRA
- boats
- credit card loans
- buying property you’ve never seen
- gold cards
- lavishing expensive gifts on loved ones and friends—or on yourself
- driving to work alone
- lending money to friends
- holding on to investments for sentimental reasons
- sunroofs
- designer-label clothing
- low-interest savings accounts
- buying anything to keep up with the Joneses, such as family beepers or sit-down lawnmowers
- t.v. shopping
Okay, so almost all of us have room for improvement. That’s what this series of excerpts will talk about. Check them out and see if you live beneath your means, and see how many you can incorporate into your life.
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