LIFESTYLE INFLATION — These 11 Money Wasters? Smart People Say No!

Did you know that about 80% of Americans say they learned about money when they were growing up?

Some learned from their parents, and others learned in school, according to a study by Edward Jones.

But even though many people know about saving money, budgeting, and investing, some still struggle to make smart money choices because of lifestyle inflation

They might not know how to take the first step toward financial stability and freedom.

The good news is that managing money doesn’t have to be hard. Smart people know how to make good choices with their money, and they avoid wasting it on things that don’t help them in the long run. Even small expenses can add up over time, so being careful with your spending can make a big difference. By making

smart choices now, you can set yourself up for a better financial future.

Lifestyle Inflation - Living beyound your means

11 Money Wasters - Or LifeStyle Inflation Markers

Here are 11 things smart people never waste their money on:

1. Late Fees

Smart people know that paying bills on time is super important. Late fees might seem small, but they can add up quickly. For example, if you forget to pay your credit card bill on time, you could end up paying extra money just because you were late.

To avoid late fees, smart people plan ahead. They might use a calendar to remind themselves when bills are due, or they might set up automatic payments so they never miss a deadline. By staying organized, they save money and avoid unnecessary stress.

2. A Brand New Car

Buying a brand-new car might sound exciting, but smart people know it’s not always the best choice. Did you know that a new car loses about 20% of its value in the first year? That means if you buy a car for 20,000,itcouldbeworthonly20,000,itcouldbeworthonly16,000 a year later!

Instead of buying a new car, smart people often choose used cars. A car that’s just a few years old can be just as good as a new one, but it costs a lot less. Plus, you don’t have to worry about the car losing value as quickly. This is one way smart people save money and still get what they need.

3. Repair Services They Could Do Themselves

Sometimes, people pay for services they could easily do themselves. For example, instead of hiring someone to fix a leaky pipe or mow the lawn, smart people learn how to do these things on their own.

Not only does this save money, but it can also be fun and rewarding. Learning new skills, like fixing things around the house, can make you feel proud and confident. Plus, doing things like mowing the lawn or walking the dog can help you stay active and healthy.

4. Credit Card Interest

Credit cards can be helpful, but they can also cost a lot of money if you’re not careful. If you don’t pay off your credit card balance every month, you’ll have to pay extra money called interest. Over time, this interest can add up and make it harder to save money.

Smart people avoid credit card interest by paying off their balance in full every month. This takes planning and budgeting, but it’s worth it in the long run. By avoiding interest, they save money and keep their finances under control.

5. Flashy Luxury Brands

Some people love buying expensive clothes, shoes, or bags from fancy brands. But smart people know that these items aren’t always worth the high price. Instead of spending a lot of money on trendy things, they choose clothes and accessories that are practical and long-lasting.

If they really want something special, they might look for second-hand or thrifted items. These can be just as nice as new ones, but they cost a lot less. By avoiding flashy luxury brands, smart people save money and still look great.

6. Subscription Services

Do you have a lot of subscriptions? Maybe for streaming services, apps, or magazines? The average person spends about $1,000 a year on subscriptions, but they often don’t use all of them.

Smart people make sure they’re only paying for the subscriptions they really use. They cancel the ones they don’t need, which saves them hundreds of dollars every year. This is an easy way to cut costs without giving up the things you enjoy.

7. Constantly Eating Out

Eating out at restaurants can be fun, but it’s also expensive. Some people eat out several times a week, which can cost thousands of dollars over time.

Smart people are more intentional about their food choices. They might cook at home, pack lunches, or use leftovers instead of eating out all the time. This doesn’t mean they never go to restaurants—they just save it for special occasions. By eating at home more often, they save money and still enjoy delicious meals.

8. Impulse Purchases

Have you ever bought something just because it looked cool or because it was on sale? That’s called an impulse purchase, and it can be a waste of money.

Smart people avoid impulse buying by thinking carefully before they spend money. They ask themselves if they really need the item or if it’s just something they want in the moment. By being mindful about their spending, they save money and avoid clutter.

9. The Newest Technology Device

New phones, tablets, and other gadgets come out all the time, but smart people don’t feel the need to buy the latest model. Instead, they use their devices until they stop working.

When they do need to buy something new, they plan ahead and look for the best deal. They don’t get caught up in the hype of new technology. By avoiding unnecessary upgrades, they save money and still have the tools they need.

10. Last-Minute Travel

Traveling can be expensive, especially if you wait until the last minute to book your trip. Smart people plan ahead to save money on flights, hotels, and other travel expenses.

For example, booking a flight a month in advance can save you $100 or more compared to booking it a week before. Smart travelers also look for ways to cut costs, like packing their own snacks or asking a friend for a ride to the airport. By planning ahead, they save money and still have a great trip.

11. Extended Warranties

When you buy something expensive, like a car or a new phone, the seller might offer you an extended warranty. This is like an insurance plan that covers repairs if something goes wrong.

But smart people know that extended warranties aren’t always worth the cost. Most people never use them, and they can be overpriced. Instead of buying a warranty, smart people save money for emergencies. That way, if something breaks, they can pay for repairs without spending extra money on a warranty.

Final Thoughts

Being smart with your money doesn’t mean you have to give up everything you enjoy. It just means being intentional about how you spend and save. By avoiding these 11 money-wasting habits, you can set yourself up for financial stability and freedom.

Remember, small choices can make a big difference over time. Whether it’s paying bills on time, cooking at home, or avoiding impulse buys, every little bit helps. Start making smart money choices today, and you’ll thank yourself later!