What are some bad habits that waste money that most people don't consider to be bad?

[Nika]

The only bad things about any of those "don't need to live" purchases is if people are paying 18%+ more for them, by buying them before actually having the money.

BTW, upgrading iphone every year is not a waste. In our family we upgrade one iphone every year (when 2 year contract is up). Does not cost us. Same this year, I got the 5S gold one, by paying $200 and than we sold my 4s for $260 on ebay. After ebay and paypal fees, about $200. So I end up with a newer, nicer and more valuable phone for free.

[cschin4]

Expensive cell phone plans
Cable/Satellite TV
Car payments
Eating out excessively


Please note, 10 years ago, we had all of the above. Granted, we were dual income then, but we also hadn't made some significant changes to our budget and were in debt. We thought it was all fine because we had decent incomes. SInce then, we have cut $900/mo by cutting out the above.

I used to agree with this. But, I have since changed my way of thinking. Of course if that is working for you, then continue on. ANd if you are strapped for cash , then of course people should cut where they need to cut. But, I would now rather spend my money on things that I find important. Acquiring "stuff" is far lower on my list nowadays. I would much rather blow my extra cash eating a good meal at a restaurant or enjoying my cell phone, etc. I really find my smartphone to be quite useful. I stream iheart radio through it to an inexpensive blue tooth speaker and I can listen to all the stations I really enjoy. My smartphone has replaced my ipod that I take to the gym. It is my camera and video camera and GPS all in one. It is a calculator and calendar organizer, and on and on. I really do find it worth the money.

[ladonnarosso]

As a mom with a new baby, I would say that baby formula is a bad habit that wastes money that is completely accepted in our society. Now formula is great for babies and mothers that aren't able to breastfeed, but it is so expensive! If a mother has an option to breastfeed but chooses to go with formula for the convenience factor and because it is more socially acceptable, that is where I look at it as a bad habit. My coworkers tell me that they spend an average of $30/week! Because I breastfeed, I'm saving that cost over the first year of my son's life. In addition, breastfeeding is healthier! It is definitely a lifestyle change and very difficult and painful at first, but the benefits outweigh the inconvenience in my book.

[dojo]

I will be interested in finding out how this strategy (buying a 4 month supply) in advance works for you. How did you determine how many of what size? We used disposable, but we found they was variability between products (different fit between products) and babies grow very fast. I don't know if I could have accurately predicted the amount of diapers needed for a particular size.

We read and asked our friends about the 'regular' consumption rate for disposable diapers when it came to their babies. We purchased some diapers for when she's a newborn and also for after 3-4 months. We're not fully stocked, as you can imagine, no one can accurately pinpoint how many diapers the baby will eventually use, but we should be covered for quite some time. We'll purchase all the extra diapers we need.

We took advantage of the sales, so we got them at great prices. As soon as we know for sure how many she really uses on a daily basis we can purchase more, also looking to buy them where the prices are the best.

I wasn't too thrilled about this at first, husband is the one who's been 'nesting' more than me , but it does make sense in the end. We know we'll use them (it's our option) and also tried to make the 'big list' in advance to see what's needed. Following the deals and having all this time to properly plan/purchase, allowed us to cut back a lot of the costs.

We got some items from our friends (car seat, crib etc.), but also had to purchase most of the things on our own. We got to get them at around $1.7k and this means almost all the needed stuff: stroller - which here in Europe costs at least $700, baby-monitor, sterilizer, diapers, wet wipes, cream, some clothing, thermometer, scale, electrical breast-pump, sling carrier (or whatever it's called), some toys etc. Planning ahead clearly works well sometimes

[disneysteve]

I would also question the practice of pre-buying diapers. We found that different brands fit differently and even within one brand, different sizes fit differently. So we might have used brand A when she was a newborn but had to switch to brand B when she was a couple months old, brand C for a while after that, then back to brand A. It all depends on how your kid grows and how the different brands are cut. Had we stocked up at any point, we would have ended up throwing out loads of money on unusable diapers.

[ShawnaC123]

Who says you have to throw away the diapers you don't use? Sell them.

[disneysteve]

Who says you have to throw away the diapers you don't use? Sell them.

I'm sure that's an option but it is far better not to buy things you don't need in the first place. I don't know anything about the resale market for diapers but I would think that they would sell for considerably less than store prices so you'd still be wasting money.

[Gailete]

You can always donate them to food banks, etc. who are also happy to distribute them. But yes for those who overbuy, even if they donate them, it is a waste of THEIR money.

[moneybags]

I would also question the practice of pre-buying diapers. We found that different brands fit differently and even within one brand, different sizes fit differently. So we might have used brand A when she was a newborn but had to switch to brand B when she was a couple months old, brand C for a while after that, then back to brand A. It all depends on how your kid grows and how the different brands are cut. Had we stocked up at any point, we would have ended up throwing out loads of money on unusable diapers.

In addition, my kids were sensitive to certain brands, so we had to switch.

[LivingAlmostLarge]

Answer for diapers I bought and stockpiled diapers using hotcouponworld, got deals like under 10cents/diaper before both my kids were born. I didn't get as cheap the second time around. Well my kids were allergic to everything but pampers and not even the cheaper baby dry but only swaddlers and cruisers. WTF.

Anyway what you do is you buy according to HCW diaper chart, then take every receipt and tape it onto the box. Then if it's the wrong brand and size, take it back to the store and switch. They honor it. Walmart, CVS, etc. I've found that the cheapest diaper without coupons is target. Then go to BJ for Luvs etc if you have coupons. Also Kirklands are great but similar to huggies so only if that brand works. And Luvs is a cheaper pampers.

Deals for wipes I stockpiled in 2012 before my second kiddo 2000 wipes and haven't bought since. They were "free". With a coupon and the gas deal I came out way ahead. If they dry out then add water and they still work. Wipes are always storable. And smaller than diapers.

[kv968]

Call me old-fashioned but the biggest tube TV used to be about 32" and everybody was just fine with that. Regardless of price, we wouldn't have gone much larger than we did. In fact, our main limiting factor was the TV opening in our wall unit. Anything larger than what we bought would have required remodeling the room and getting rid of that piece of furniture.

OK, you're "old fashioned" Kidding...hey if 32" is good enough for you then so be it. I just personally love the detail and "largeness" of a bigger screen, but to each his own.

And having an enclosed wall unit can definitely be restricting. I remember trying to squeeze a 32" in one I used to own. Not all easy with weight and bulkiness of a tube.

[Gailete]

I just personally love the detail and "largeness" of a bigger screen

Years ago I remember converting form a 13" B&W to about a 19" color and I couldn't believe what I had been missing. Don't know the size of our screen now, but I can see everything clearly yet hubby (with bad eyes) has to drag it right up to his chair to see what is going on. Depends on the individual For sure.