Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

 

[Joydie]

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

I’m in my late seventies and for about a year now, I’ve been buying clothes at op shops. My best friend and I went out for our Christmas lunch together, and I complimented her on her pretty top. She told me it was from a well known ladies’ fashion store. I was wearing black and white striped wide leg slacks and a hot pink 3/4 sleeve top. My friend remarked that I was lucky to still look good in hot pink. I told her that the cost of the entire outfit was $9.00. When she recovered from the shock, she said: ‘Can someone please tell me why I spend a fortune on clothes, when you can look so good for $9.00?’

So that’s what I think people waste money on. I worked hard physically and mentally in the medical field for 42 years and hubby’s and my income meant we lived comfortably. Even then, I shopped for clothing at Target and Rockmans. I began working at the beginning of 1966, and I can count on the fingers of one hand the number of times I’ve bought an expensive outfit. The last one was a gorgeous royal blue silk outfit for our son’s wedding in February 2008.

 

[hdhensel]

All the readers seem to be hung up on petty little things that don't amount to much. My pet hate is the massive waste of money on a submarine and fighter aircraft perpetrated by our political puppets. $80 billion dollars for some submarines that we don't need. A portion of that money could be spent on hospital equipment, transport infrastructure, and education. Hospitals are crying out for more sophisticated, and even basic, equipment, and rejoice when they eventually receive one bit of equipment (to detect certain cancers). ONE bit of equipment!!! Every hospital should have a few (at a gasping $5m). Australia has a water problem, whether you are in the west or the east. Some of that "defence" money should be spent on delivery of a basic commodity - water. There is so much water in our northern latitudes that should be diverted or channelled into the areas that have a shortage. Whatever happened to our Argyll - Kalgoorlie - Perth project? Water could also be diverted from north QLD to the inland and southern parts when needed. Look at what the progressive, forward-thinking Chinese government is doing with their mega-channels. A submarine could easily take care of that. What a waste ! Just to satisfy some war-mongering, out of date military personnel in Canberra. Grrrr......

 

[Anoush]

Looks like l have to bother. I buy by the carton and it is around $275 per week. Have tried several things to try and give up but just can't do it

have you tried the patches if you can still get them,,worked wonders for me,,haven't smoked for probably 35 years,,,with everything so expensive now it's a massive amount to spend,,I always think what I could use that money for,,good luck ,,you will come out on top.

 

[Thecheesequeen]

Tattoos. Usually hideous, frequently regretted, always affected by Gravity. That "Tropic Island Sunrise" over your coccyx in twenty years time will more closely resemble a giant Squid trying to devour a Dolphin. In my young days, Police kept an Index of Tattoos and Piercings specifically to facilitate the identification of suspects; nowadays it's more likely to be an index of Cleanskins! Don't get me started on all the "Hard-Luck" stories of people, like a close friend of my spouse, in her forties, who has been knocked back several times for a bank housing loan (even when the banks were practically giving money away before the interest-rate hikes) after fronting for Loan interviews with both arms, shoulders, cleavage and half her back covered in several thousand dollars' worth of ink; it would help if she held a steady job, too, but that's another hurdle made unnecessarily difficult when you look like a graffitied viaduct... She might as well have had a bone through her nose.

I so agree with this. They’re ugly, no matter how good the artwork is.

 

[Macdee]

The umpteen levels of government we have in this country - Federal, State, Local - the most over-regulated country on the planet with a total population less than that of Tokyo. No wonder the country is broke.

 

[Brian Clarke]

Looks like l have to bother. I buy by the carton and it is around $275 per week. Have tried several things to try and give up but just can't do it

The only thing that stopped me smoking was a heart attack. Had no withdrawal symptoms because I was not too keen on the alternative. There are times though, that having a puff is so enticing. Hard drug to shake is nicotine.

 

[Andrew]

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

 

[Andrew]

The biggest waste of money for us has to be all the electric kitchen gadgets we have stuck in in the cupboard. They seemed like a good idea at time, but now not used. Things like Bread and Pie makers. Also different types of Grills. Unless you are an ardent cook they're rarely used.

 

[Zoya]

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

Gambling for me is absolutely waste of money!

 

[MIZMAC]

I find take away meals a waste of money when bought instead of cooking. i also agree with so many other things too e.g. bottled water, regular gambling expensive children's clothes, new clothes each season. Mind you I am guilty of most things at times.

 

[mylittletibbies]

I am guilty of buying far too many clothes. As I live in the country I shop on the internet, only ever buy things that are on sale, but it is still a waste of money when I already have more than enough. Have already deleted the apps and unsubscribed all the sites I usually buy thru. My new year's resolution is to buy no more clothes in 2023.

 

[Mindygirl12022]

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

I was thinking of changing the Galaxy phone I've had for over 5 years now. Went and asked about the differences between the 'A' series and the 'S' series. Mostly it's about having a better photo capability, the 'A' ones considered not so goiod as the 'S'. As I'm okay and get some really good photos with my oldie, have decided to keep my humble little A8 as long as I can.

 

[Leonard Hall]

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

Many people are rethinking their spending habits these days. With the COVID-19 pandemic and now inflation, it has become important, more than ever, to maximise the power of your savings.

But are you sabotaging your attempts at managing your finances by buying these ‘money-wasting’ items?

A user from the social news website Reddit asked Australian Personal Finance forum members what they thought was a waste of money. Obviously, this is going to be up to personal preferences and values.

They said: ‘What is something a lot of people buy but is a waste of money in your opinion? And what is something you can't believe people spend money on?’

They included their answer: ‘For me, it’s cigarettes. They’re basically burning money.’

According to the Australian Institute of Health and Welfare (AIHW), Australians spend an average of $13 per week on tobacco products, which include cigarettes. The main reasons Australians smoked was for personal enjoyment and relaxation. While there has been a downward trend in the frequency of smoking in the past decades, tobacco use is still the leading cause of cancer in the country, holding 44 per cent of the cancer burden.

View attachment 7131
Using an e-cigarette, or ‘vaping’, has become a popular cigarette alternative. However, it is illegal to sell e-cigarettes with nicotine in the country. Credit: Gustavo Fring/Pexels​

Other Redditors joined the discussion to share their thoughts.

One wrote: ‘For me, it’s expensive clothes for babies and kids. They’re just going to grow out of them in a few months anyway.’

A response to the comment said: ‘I understand from friends that it is incredibly easy to get perfect second-hand baby clothes for this exact reason.’

Having babies is expensive. The Australian Institute of Family Studies found that in the first year, parents have spent between $3,000 to $13,000 on baby essentials. Because of this, many parents are opting to go for secondhand items instead of getting all brand-new products. Others have loved ones who provide hand-me-down clothes, cots, car seats, and other necessary items.

Another Redditor said: ‘Gambling. Hilariously, a sports betting ad is actually showing for me on this thread telling me to “Go on, have a dabble”. No thanks, I’d rather keep my money.’

One user pointed out that gambling is actually a pressing issue: ‘Australians seem to lose the most money per capita to gambling in the world. And the gambling lobby has a lot of money and influence in politics. It's scary. It doesn't help that the government can make good money taxing it, even without lobbying.’

Estimates say that Australians lost approximately $25 billion back in 2018-19, and that was only on legal venues for gambling. But besides the financial losses, gambling can also impact mental health, relationships, and productivity, a toll that was estimated to reach $7 billion in Victoria alone.

However, one Redditor suggests that it is not gambling alone that should be blamed: ‘It depends on how you look at it. If you gamble to win money, like it's some form of income, it's a slippery slope to a very tragic ending.’ For some, gambling can be a form of participation in certain interests: ‘I like to make small bets on sports I'm already watching to make it more interesting. Throwing $2 on anytime a scorer is great, it makes me really want him to get the ball, etc. I basically count the money as spent to increase my engagement with a sport.’

Are we really a nation of gamblers? Watch this ABC feature that discusses just that:

​

Another answer said that upgrading gadgets annually is a waste of money. They commented: ‘New iPhones last like four years easily without a problem. I change my iPhone every three years, though, but I could go on for another year easy on it.’

Aussies change their phones every 3.5 years, on average, but Baby Boomers hold onto their phones even longer. This may be a good thing, especially when we see a yearly electronic waste of at least 20-25 million tons. Australians usually replace gadgets once their phone contracts are up, but it’s completely fine to stick with your device as long as it works as needed.

So folks, what do you think? Are they any purchases that you consider to be not worth your dollars? Let us know in the comments below!

Fireworks are a way of burning money and frightening animals especially dogs that are terrified of loud noises.

 

[Possum Lover]

Simple......... Smoking is Selfish.

 

[joshram]

Looks like l have to bother. I buy by the carton and it is around $275 per week. Have tried several things to try and give up but just can't do it

$275 per week! I think that would be a whole family's food budget! All going up in smoke!

 

[Observer]

$275 per week! I think that would be a whole family's food budget! All going up in smoke!

Retired. No kids to worry about. Not quite on a pension yet. No finances to worry about.

 

[gordon1940]

Tattoos. Usually hideous, frequently regretted, always affected by Gravity. That "Tropic Island Sunrise" over your coccyx in twenty years time will more closely resemble a giant Squid trying to devour a Dolphin. In my young days, Police kept an Index of Tattoos and Piercings specifically to facilitate the identification of suspects; nowadays it's more likely to be an index of Cleanskins! Don't get me started on all the "Hard-Luck" stories of people, like a close friend of my spouse, in her forties, who has been knocked back several times for a bank housing loan (even when the banks were practically giving money away before the interest-rate hikes) after fronting for Loan interviews with both arms, shoulders, cleavage and half her back covered in several thousand dollars' worth of ink; it would help if she held a steady job, too, but that's another hurdle made unnecessarily difficult when you look like a graffitied viaduct... She might as well have had a bone through her nose.

Loved this piece !

 

[gordon1940]

$275 per week! I think that would be a whole family's food budget! All going up in smoke!

Unbelievable!

 

[Defiant540]

Fireworks on NYE. Waste of money and a huge pollutant. What is wrong with a laser light show?

I wish! would love to watch one!

 

[spórol]

Alas, light pollution + effects on eye and brain for some.

Fireworks on NYE. Waste of money and a huge pollutant. What is wrong with a laser light show?