The Personal Finance Podcast 22 Things Broke People Waste Money On
Jul 9, 2025
Discover the 22 expenditures that can drain your finances and keep you from thriving. Explore the hidden costs of gym memberships and subscriptions, along with strategies to cut back. Dive into the psychology behind spending, from retail therapy to the risks of extravagant weddings. Learn how to avoid common financial pitfalls associated with holidays, gifts, and lending money to friends. Emphasize mindful budgeting and prioritizing your financial well-being over impulsive choices.
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Avoid Unused Gym Memberships
- Cancel unused gym memberships to stop wasting money monthly.
- Consider building a home gym or pay per class for more cost-effective fitness.
Cut Forgotten Subscriptions
- Regularly review and cut forgotten or unused subscriptions to save money.
- Automate the saving or investing of this freed-up cash to build wealth.
Lotto Tickets Drain Wealth
- Lottery spending averages $70 to $100 monthly with very low winning odds.
- Investing that money instead could yield hundreds of thousands over decades.
