How to Waste Your Money

For those of you who feel you are not doing a good job wasting your money, here are three tips.

1. No Savings Plan – If you are serious about wasting your money, make sure you have no savings plan. A well constructed plan, one which has you saving money from every paycheck, will give you less money to waste. If your goal is to burn through your money as fast as possible, make sure you have no such savings plan.

2. Buy on Impulse – If you really want to make sure you waste your money, make your purchases on impulse. Do not plan your purchases. Instead, simply spend money anytime you get the slightest urge to buy something. If you see something, even if you have no use for it but have the slightest desire to buy it, then do so. This will really help you in your goal of wasting the maximum amount of money possible.

3. Do not comparison shop for expensive items – If tips one and two do not help you waste enough money, here is one that can really help you finish off what dollars you have left. When it comes to expensive purchases, do not comparison shop. Do not look around for the best price possible. Instead, make your purchases without regard for getting a better price.

Now, obviously, if your goal is not wasting money, take the above three tips and do the opposite. Have a savings plan. Do not make purchases on impulse. And last but not least, make sure to comparison shop – particularly when it comes to expensive items.

Sometimes, it is useful to look at things from the reverse perspective to see how we can improve our financial situation. At times we have to deconstruct our present set of habits, so we can improve upon them and create a set of guidelines to enable us to reach our goals.

Image: Idea go / FreeDigitalPhotos.net

You can reach me with your questions and comments at [email protected] Like today’s column? Check back frequently.