Most common spending regrets

Have you fallen into the trap of these common spending regrets?

Most common spending regrets

No matter how spending-savvy you are, there will be things on which you have wasted money. But have you fallen into the trap of these common spending regrets?

Elaborate celebrations

While you may not have spent $36,200 (the average cost of an Australian wedding) on your own nuptials, you may have splurged for a son or daughter. Or maybe a big 60th birthday celebration? Looking back no doubt you enjoyed your time, but was it really worth the money?

Now-defunct technology

Betamax video recorders, Commodore computers and 3D televisions have all been the latest must-have technology as some stage, but how many are still being used today?

Home shopping products

Ok, the list here is endless – gadgets to help move a car with your bare hands, equipment to stop you from having to go to the gym, squares of cloth which mop up as much liquid as 50 rolls of kitchen paper, kitchen implements which peel, slice and dice… need I go on?

Extended warranties

You know how it goes, you barter with the salesperson to get the best deal and then cough up your savings on an extended warranty, only to misplace it, or find that you’re already covered under consumer protection policies.

Subscriptions

Be it magazine, gym or online, it’s easy to sign up for something and even easier to forget to cancel, especially once your free trial is over.

Unnecessary insurance policies

It’s nice to feel safe knowing that you’re covered should something go wrong, but how many policies do you need and what should they cover?

Timeshares

You’re in the holiday mood, hoping that this feeling could last forever when all of a sudden you’re given the chance to own your own little slice of paradise for one week each year. Sadly, it’s usually the one week no one else wants to be there!

Don’t be embarrassed if you can tick off more than one or two of these spending errors, you’re not alone. The key, as always, is to learn from your mistakes and only make a purchase once you’ve seriously considered how much you really need what’s being offered.





    COMMENTS

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    Aloysius
    25th Mar 2014
    11:15am
    a good list but I have to say that timeshare ownership has been a great success for us. We have owned 2 weeks for 25 years and have used it and taken advantages of exchanges to stay overseas many times. It is true that the resale value is much lower than the purchase price.
    ShazzamB
    25th Mar 2014
    11:39am
    Now Defunct Technology - sell it on eBay or Gumtree - ts a way of recycling & getting some money back.
    Subscriptions - try your local library - for ebooks, magazines & dvds - it is free & much more economical & ecological
    Home shopping products - don't call now - write the product on a piece of paper, stick it to the fridge, think about how many times you would use the item everytime you look at the paper, and keep it there for a month - guaranteed at the end of the month you will shake your head and wonder what you were thinking
    cosluv
    27th Mar 2014
    11:13am
    there are '"give away for free" web sites that you can join. handy to get rid of unwanted items, also handy if you need something.
    someone's trash is someone else's treasure.
    scorps
    25th Mar 2014
    5:45pm
    currently have a timeshare in florida which no one in my family wants to use and I absolutely do not want to spend/waste any more money on. But cant work out how to get rid of it without spending even more money. any ideas ?
    cosluv
    27th Mar 2014
    11:09am
    can you donate to a charity*organisation, such as Make a Wish Foundation ? think it would have some great use there.
    greygeek
    27th Mar 2014
    12:51pm
    I did not understand your reasoning for mentioning an elaborate celebration to be a "regret for the amount of money spent". Surely, if one has saved hard for the special occasion, such as a partner's milestone birthday, then it is a moment of joy, love and lifelong memories? We had to pay for our own wedding and it was small and inexpensive. Over the years, I have worked and saved hard often beginning five years before the event, to ensure I can have the money to create a fantastic celebration for my beloved! No regrets on my part whatsoever! By the way, Barter is the incorrect word used in the extended warranties paragraph. " Barter is a system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money" courtesy of wikileaks, I think you will find "haggle" is the appropriate word
    Janran
    19th May 2017
    5:25pm
    Clothes! I have many new, fancy bras I bought pre-menopause, now 2 cups too small.
    Now I don't listen to compliments from shop assistants - they just want a sale. So I keep a small mirror in my handbag so when I'm in the change room I can see my back side. Oh the horror, the horror...