5 Wastes of Money

From Yahoo! Personal Finance comes this article about how people waste money. Here’s the short list:

  1. Buying gas at the least expensive gas station.
  2. Going to different stores to get sale items.
  3. Buying the cheapest instead of the best value.
  4. Purchasing items on sale.
  5. Buying in bulk.

I prefer JIT purchasing, or Just In Time Purchasing. Purchase what you need right before you need it, with some exceptions. Things that store well, like flour, sugar, soda, paper towels — bulk up on them if you have the space and if they’re on sale for a really great price. Don’t buy stuff you don’t need just because it’s on sale. And don’t waste a lot of time looking for bargains. Look for bargains on the net, not on the ground (as in, in your car).

With today’s gas prices the way they are, you might as well pour your cash down the toilet if you’re “shopping” for the best deals by going from store to store.

Competition and capitalism being what they are, the prices of most goods, especially commodity goods, are pretty much the same all around. So don’t shop. Buy when you need it.


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