Commenters on Reddit confess their biggest money wasters.
Savvy consumers love to share their personal money-saving strategies, but what about their money-wasting confessions?
It’s a personal question, but plenty of people wanted to weigh in on a popular Reddit thread this week. A Reddit user by the name “hibiki777” posted to a discussion about frugality Wednesday and simply asked, “What’s the biggest waste of money? I’m thinking dining, but I’ve already cut that out.” Another suggested “interest and late fees” are the biggest wastes of money, and one user said “buying stuff because it’s on sale.”
Generation X and millennials are neck-in-neck in regretting spending on nonessentials (43% each versus 31% for boomers). Indeed, half of millennials regret spending money on coffee and also eating out at restaurants, while 61% regret fast food and 97% regret bank fees, according to a survey released last year by Durham, N.C.-based Common Cents Lab, a financial research lab at Duke University.