Maybe you’re tired of Marie Kondo telling everyone to tidy up and get rid of belongings that don’t give them joy. But truth is those principles can carry over to your bottom line. If you tidy up your spending, your bank account will thank you, too. And you won't need to tidy up your closets as much.
A lot of money gets wasted on impulse purchases of trendy merchandise and goods and services you probably could live without.
Vow to embrace simplicity, minimalism. To get started, here’s a list of what people buy and often, for many reasons, regret later. Think twice before buying them.
Careful with kitchen gadgets
“A lot of stuff people buy that ends up rarely or never being used is in the kitchen,” says Bryan Stoddard, who runs HomewaresInsider.com. Remember that bread maker you got? The waffle maker and the air fryer? The list goes on. Once the novelty wears off, such items just collect dust. You can tire quickly of single-purpose appliances.
You plan to work out …
The classic money waster is workout equipment. Many a treadmill soon serves as a clothes rack, while dumbbells sit dormant. You’re psyched in January to join a gym; by St. Patrick’s Day (if not sooner), all that passion shows itself to be just a passing fancy. Same goes for sports hobbies. Golf clubs, and tennis and squash racquets sit idle in closets.
Leave sky-high-heels alone
You see those sexy stilettos and dig deep in your purse for a pair of expensive, name-brand shoes. You can’t wait to wear them. Says Stacy Caprio, founder of Accelerated Growth Marketing in Chicago, “So many heeled shoes that are relatively expensive I have bought have not been worth it, because I either wear them never, or only one time, even though I think I'll wear them more when I buy them.”