﻿10 THINGS POOR PEOPLE WASTE MONEY ON Welcome viewers to our channel,
if you are new thanks for watching and we promise you will enjoy this video to the fullest.
Our focus today is on the things poor people waste their money on.
People spend money on different things depending on the income they earn. For example,
rich people buy more healthy foods than the poor. Poor people will focus mainly on footing
their house bills. Both groups of people waste their money, but they spend on different items.
This video will show you how poor people waste their money. If you find yourself among any of
the categories, this video is not to hurt you, but to make you know how to manage and spend your
money wisely. When you know what you can afford, you will greatly increase your savings. Now,
watch this video to the end, learn where you waste your money and how you can fix it from our list.
Before we proceed, don’t forget to subscribe and turn on notification for more exciting videos.
1) BUY OR RENTING A HOUSE BEYOND YOUR BUDGET It is not strange that every individual be it poor
or rich will want a comfortable and spacious home to live in with family. Most at times, good
houses are expensive to get. You will certainly want a particular design for your living room,
kitchen, toilet, rooms and other features. With that in mind, you may lose sight of your budget.
It is very important to have a fixed budget and stay glued to it no matter the situation. Trying
to live above what you can afford can be to your own detriment. The reason why poor people become
poorer is because; they try to spend the same way rich people do. Why would you rent or buy a house
above what you can afford because you want to match up with your friends whom have nice homes.
The reality of life is; you need to stop comparing what you have to what your friends,
siblings or neighbor own. Do your three kids need to share a room? Don’t bother they will adapt and
find ways to have their own space and time. We are aware that sharing a bathroom with three
people in the morning might be a challenge, but as long as you’re living according to
your means and staying out of debt, you will stop wasting money. When you practice this,
you will find yourself saving as much money that can get you a better house in future.
2) JUNK FOOD So most poor people
live by the myth that they can’t buy healthy food because it is expensive. Sadly enough the
reverse is true. Have you ever taken a look at the prices of vegetables and fruits compared to cakes,
burgers, and yoghurts? They are way cheaper than you think. Analyzing this, you will notice that
junk food is more expensive than a basket of tomatoes or bundle of vegetables. Sometimes
some poor people want to look like the rich by buying junk food or eating in classic restaurants.
Sadly enough rich people don’t care about junk food or the fancy restaurants. They
focus on eating healthy in their homes by buying fresh vegetables and fruits.
Rich people save money by doing this. Thus, put aside the burgers that cost 2,000 FRS
and go for vegetables which cost 500 FRS which is more beneficial to you.
3) FORTUNE TELLERS AND DIVINERS Accept it or not, even if you
haven’t spent money on a fortune teller or diviner, you have thought about it.
You have rushed into peoples inbox, shared your story or anything about you, and tried
to get them tell you something. It is normal for people to be curious about their future.
Unfortunately, majority of this people are fake and are simply looking for means to earn money.
Your future depends on your choices, your visions, where you want to see yourself in the years ahead
and you don’t need to pay any one to make a choice or set goals for you. You don’t need to
pay any one to tell you who to marry; who to love or what career you should take. Instead of wasting
your money on people who are trying to scam you, save up that money and use it for better things.
4) THE NEWEST TECHNOLOGY This is common with the younger population.
This is another way of keeping up with your friends. You want the latest technology because
of all the features and prestige that comes with using it. You want the latest IPhone,
with good storage capacity, better camera, thinner and bigger size. But to think of it, there isn’t
really a great difference from one phone to another. Why change phones if both can serve
the same purpose. The fact that you have money to buy a new phone doesn’t mean you can afford it.
There is a difference between having money in your account and being able to afford an item.
You need to pay your rents of 100,000 FRS and that phone cost 100,000 FRS,
what you can afford is to pay your rents and not buy a new phone.
5) IN-APP PURCHASES AND GAMES There is this game you downloaded some time ago
and over the course of time you become addicted to it. When you reach a certain stage, you run out
of coins. You like this game and can’t imagine not moving to the next stage because of coins.
Then suddenly the app tells you there is a new sale, and you can get 20,000 coins for 500 Frs.
You consider 500 FRS as a small amount and decide to buy the coins. After a few days, the same thing
happens and you do another purchase. At the end of the month you will realize you have
spent about 10,000 FRS into your app whereas it could go to your gas, electricity or water bill.
A lot of people have fallen into this trap several times. You need to focus on what
is essential and what can benefit you in the long run and not just on the temporal things.
You can even go as far as uninstalling the game, you won’t regret it later.
6) HANG OUTS It is very important to go out and
have fun sometimes. But don’t make this a habit especially if you are not a high income earner.
Even rich people don’t eat out, go for movie nights or club every day. It is good to go out
with friends once in a while but doing that often can leave a deficit on your account.
This is one of the highest things poor people waste money on; partying. You mustn’t celebrate
every birthday or achievement. If you want to make something special for your wedding
anniversary for example; you don’t need to go to the most expensive of restaurants. You could make
a good home cooked meal and serve with a bottle of wine. If your friends are paying reservations
for an event, stay at home, save up that money and cater for needs which are more important.
7) HEALTH Unfortunately most
poor people neglect their health problems a lot. When they have mild headaches or stomach aches,
they prefer to go the traditional way. They prefer consuming traditional medicines to
ease their current situation. But the sad truth is, after some time the same problem reappears.
We didn’t say traditional medicines aren’t good, but it is very important
to visit the hospital once in a while for proper checkup. No matter how small the issue is,
ignoring your poor health won’t make your situation better. It is preferable to spend small
amounts getting drugs when a condition is mild rather than ending up with large hospital bills
when the situation becomes chronic. 8) NEW TRENDS
You find these trending pair of sneakers at a shop and they cost over 20,000 FRS. You need to get
these pair of shoes to keep up with the trend, but you don’t really need these shoes as much as you
think. It seems that every time you pass through shops, you see that particular pair of sneakers
staring at you and telling you, you can afford it. The fact is after some months, that sneaker
won’t be as popular then you will want a different shoe that is in fashion at that time. Fashion and
trends change quickly every day. If you start purchasing one item, you will need to buy the
next item over time because you want to follow the trend. There are a lot better things you can do
with your money rather than following trends. Save that money and make the best out of it.
9) IMPULSE SHOPPING Impulse purchases are unplanned decisions
to buy a good or service you don’t really need or at least at that moment. Every one of us is
a victim of this. How many times have you spent on things you didn’t really plan for? These are
known as impulse items and sometimes have a price higher than similar items in a store. For example;
you decide to go for a trade fair with friends and you have allocated a budget to spend only on
drinks and food only. Then suddenly you see this beautiful dress exhibited at a stand, because
of the fear of not having to see it somewhere else again, you decide to go out of your budget
and purchase this lovely dress. You need to tell yourself ‘no’ to all these impulse items and learn
to control your desires. It is always important to go for your needs more than your wants.
10) SMOKING AND DRINKING It is shocking to know that many
people (especially poor men) spend much money on drinking and smoking more than the rich. It is
often the low income earners that spend much money on smoking and drinking when a packet of cigarette
cost just a thousand francs and a drink five hundred francs even though prices are increased,
these group of people will keep on buying. Imagine having to smoke a pack of cigarettes and get two
or bottles of drink per day. At the end of the day you will realize you spent much money that
could rather go to foot your bills, fuel your car or pay for commodities. If you want to
quit smoking of drinking, try chewing a bubble gum each time you feel as to smoke and consume
enough water when you feel as to drink. If this doesn’t work for you, seek the help of a doctor.
This is the end of this amazing video. If you find yourself guilty of any of the points listed above,
try to work on yourself and reduce unnecessary expenditure. Hope you
will be able to spend your money wiser than before. Please like and share this video and
also drop a comment on the comment section and tell us what we left out from the list.