IslamicFinanceGuru Podcasts 13 Things That Are A Complete Waste Of Money
Nov 16, 2025
Discover the 13 biggest money traps that can drain your wealth, from flashy car purchases to extravagant weddings. Explore smarter spending by opting for reliable used cars and modest celebrations. Learn to save by choosing own-brand groceries and canceling unused subscriptions. Resist community pressure to splurge and prioritize family over status. Gain insights into halal investing and cut down credit card debt to protect your finances. This conversation offers practical tips to enhance your financial future while staying true to your values.
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Cars Drain Wealth Fast
- Cars are one of the fastest depreciating assets and often drain young people's finances when bought on finance.
- Buy a reliable secondhand car and invest first so nicer cars become rewards, not liabilities.
Keep Weddings Within Your Means
- Keep weddings simple and within your means to avoid starting married life in debt.
- Spend saved money on a house deposit or family security instead of one lavish day.
Choose Affordable Wardrobes
- Avoid splurging on designer clothes and focus on quality basics to save significant amounts annually.
- Shop outlets or discounted luxury to treat yourself without derailing financial goals.