“I haven’t reported my missing credit card to the police because whoever stole it is spending less than my wife.” — Ilie Nastase
Chances are that you know a female in your life who’s spending lots of money. If that’s the case, you’re going to enjoy today’s article.
I wrote a post about 5 ways that guys waste money. At the end of the article I challenged the female readers of Studenomics to present their point of view (yes girls do read Studenomics too!).
Thrifty Gal of Chasing Prosperity was brave enough to accept this challenge.
There are many more than 5 ways in which girls can waste money. Since listing all of them would make for one lengthy post, I’ve grouped them into categories.
Without further ado here’s my top 5:
1. Personal appearance.
This is by far one of the most frequent expenses a gal could incur. Hair, makeup, nails, shoes, clothes, bags, and so on. If you can name it, we are most probably spending way too much money on it.
While some of these expenses can be classified as needs, the overwhelming majority are wants. For instance, who absolutely needs highlights? Is the latest lipstick color detrimental to our survival really? Most appearance related expenses can be curtailed by limiting yourself to the occasional splurge while learning to be content with how you look.
This is a tricky one because by definition, a frugal girl will always be looking to pay less than full price. But sometimes we get addicted to the quest itself. And by doing so, not only do we accumulate a ton of stuff which in turn will require more cash for organization and storage, but we also end up wasting a great deal (pun intended!) of money on unnecessary things.
3. Trying to be hip.
Admit it, if you’re a girl you’ve looked at the latest celebrity photos on gossip blogs or entertainment magazines and salivated over the skinny jeans, Ugg boots or ginormous ‘it-bag’ they’re sporting. It’s natural to be interested in fashion if you’re a girl, but you don’t have to act on your impulses. Fact is those celebrities have a ton more discretionary income than you or I, and chances are that they scored it for free, or are getting paid to parade it around. Yes, they are walking, talking advertisements designed to make you part with your hard earned cash and it would be foolish to fall for them.
4. Being afraid/too busy/lazy to DIY.
These expenses can range from the obscure to the obvious. Minor jobs around the house for which we usually use a handyman, oil change for our car, filling out our own tax return (there’s a reason it’s called 1040EZ), preparing our own meals, doing our own manicures, hemming our own pants, managing our own finances. These are all things that if you can google, you can find a way to do yourself.
5. Diet & Fitness.
Before we come to the realization that true physical fitness can only be achieved through a balanced diet and plenty of exercise, most of us girls have spent a small fortune on following the latest fad diets, appetite suppressors, fitness gadget, or other such gizmo. Years ago, I bought an ‘ab-roller’ which promised to give me tight abs if I got on my hands and knees and rolled it on the floor. (I’m sure you’ve seen those infomercials!) After many iterations of rolling and no sign of tightened abs, it ended up in the dumpster.
Similarly a friend swore her appetite was curtailed after she first took some magic pills, but later wondered if it was a temporary placebo effect. And who doesn’t know a gal who owns a $700+ elliptical machine which is now gathering dust in her basement?
I’ve been guilty of all 5 of these categories. Have you? Or do you not agree with anything on this list? Can you list other ways that girls waste money?