Americans' 10 Biggest Wastes of Money

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Thraxen

Diamond Member
Dec 3, 2001
4,683
1
81
Originally posted by: dullard
Some good stuff there. But they missed what I think is America's #1 waste: prolonging life at all costs. America is one of the only countries that does this. Installing a $5000 feeding tube to let your 97-year old grandpartent live 1 more week isn't a good use of money. $300,000 to let a brain dead person live on life support another few years isn't a good use of money. $5000/month for a prescription drug to extend a life of someone in immense, excruciating suffering and pain isn't a good use of money. When you no longer can enjoy life, and when it is your time to go, let yourself go. Then don't pay $20,000 to put the dead body in the ground. I could do that for the cost of a $10 shovel.

People just don't spend money in those situations though. You are using extreme examples.
 

trmiv

Lifer
Oct 10, 1999
14,670
18
81
I'm not really guilty of any of the stuff on that list. Of course I'm guilty of plenty of other money wasters. I don't really care though, it's my money.
 

dullard

Elite Member
May 21, 2001
26,196
4,869
126
Originally posted by: Thraxen
People just don't spend money in those situations though. You are using extreme examples.
Of course I'm using extreme examples. Someone dying in a car accident doesn't involve needlessly spending money. Someone dying in their sleep at home doesn't involve needlessly spending money. I'm ONLY talking about cases where money is spent, needlessly, to prolong a suffering life. That is a waste of money. And it happens to many families and those familes DO pay for it. Either they pay out of pocket for the bills, or they pay much more monthly for decades of health insurance just so that they may have the ability to have the insurance prolong the suffering. Either way, many people are paying for it.

You yourself may be paying for it, if you have health insurance.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
62,484
8,345
126
To further extend on the premium coffee & fast food thing...I'd throw in bottled pop.

I have a ton of coworkers that hit up the pop machine once or twice a day at $1.00 a trip...and do this 5 days a week. Just for a soda. We have three refridgerators in the break room next to the pop machines....BRING YOUR OWN!!!

Seriously...why spend $1.00 at a time when you can buy a 12 pack of cans on sale for $2.50-$3.00 and spend $.25 a can?

There's also free coffee in the break room, but instead they stop by the fru-fru shop and spend $2.50 on it. Is it really that much better after you dump your half gallon of creamer and 4 scoops of sugar in it?

 

Thraxen

Diamond Member
Dec 3, 2001
4,683
1
81
Originally posted by: dullard
Of course I'm using extreme examples. Someone dying in a car accident doesn't involve needlessly spending money. Someone dying in their sleep at home doesn't involve needlessly spending money. I'm ONLY talking about cases where money is spent, needlessly, to prolong a suffering life. That is a waste of money. And it happens to many families and those familes DO pay for it. Either they pay out of pocket for the bills, or they pay much more monthly for decades of health insurance just so that they may have the ability to have the insurance prolong the suffering. Either way, many people are paying for it.

Yes, but many more spend high $ amounts on medical care that does amount to some good. Less than year ago my father went in for bypass surgery and was hit with ARDS as a result of the surgery. He spents months on a ventilator and, yes, a feeding tube. Today is back to teaching courses at the university. The insurance argument is a poor one, you simply don't know when a situation like that will strike... it's not always at the very end of someone's life.
 

dullard

Elite Member
May 21, 2001
26,196
4,869
126
Originally posted by: Thraxen
Yes, but many more spend high $ amounts on medical care that does amount to some good. Less than year ago my father went in for bypass surgery and was hit with ARDS as a result of the surgery. He spents months on a ventilator and, yes, a feeding tube. Today is back to teaching courses at the university. The insurance argument is a poor one, you simply don't know when a situation like that will strike... it's not always at the very end of someone's life.
You still fail to see my point. Your father had a good chance of surviving. I'm simply stating that if a person has NO chance of surviving, then don't needlessly spend money to prolong the inevitable.
 

dullard

Elite Member
May 21, 2001
26,196
4,869
126
Originally posted by: Vic
Where does this money that we waste go?
From the hands of many, back into the hands of the select few rich. A portion goes back to us in the form of wages, and a portion stays with the rich.

Vic, you are treading a dangerous line here. Of course, spending is good for the economy. Of course, investing is good for the economy. The article specifically states that spending in ways that aren't beneficial in the long term is worse than investing for the long term. Be careful if you make the argument that we should buy $2000/year of gasoline instead of $1000/year of gasoline and $1000/year of investments into our future. You can make that argument, but be very clear of the consequences in your argument.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
62,484
8,345
126
Originally posted by: Vic
Where does this money that we waste go?

As a shareholder of several major players in the industries mentioned on that page and in this thread...it sort of trickles back into my pocket :p
 

mugs

Lifer
Apr 29, 2003
48,920
46
91
Originally posted by: Kalvin00
i aint paying no ****** $30000 when i go to get married

That's up to your future wife. ;)

The cost of a wedding adds up quickly.

Catering is expensive. A nice meal will range from $35 to $150 a head.
Location fees will probably run you $1000 or so unless the facility is owned by the caterer
Her dress will be $1000+. You can get one at David's Bridal for $500 or so (my wife did), but throw in a retardedly expensive veil, tiara, shoes, jewelry, alterations...
Photographer - now this is something we didn't want to skimp on, because your photographs will be just about all you have to remind you of the wedding. There are some pretty bad photographers who try to pass themselves off as wedding photographers, especially now that digital photography is cheap. A photographer will cost you $1000+ easily. More for a really good one.
Flowers/Decorations - You can go cheap here. One of my friends did all of her own flower arrangements for her wedding, and they looked very nice. The flowers themselves aren't cheap though. $1000+.
Band/DJ - $1000+.

Of course you can skimp and get cheaper. There are many ways to reduce the cost. You can go cheap on the food since that's the biggest cost. You can hook an iPod up to the sound system in the reception hall and skip the DJ. But a lot of people are getting married when they're older now, and they have the money to spend. I would never go into debt for a wedding, I think that's stupid. I wouldn't even want to spend a significant portion of my savings on a wedding. But if you have the money... it can make the best day of your life that much better.
 

Kadarin

Lifer
Nov 23, 2001
44,296
16
81
Originally posted by: wyvrn
I would agree with the list, but it's incomplete. Americans spend more money on recurring monthly subscriptions than anything else. For example, cell phones, television, internet access, etc... You get value but the recurring charge can quickly destroy a budget and any hopes of savings.

I'll agree with this.
 

waggy

No Lifer
Dec 14, 2000
68,143
10
81
Originally posted by: forfor
Originally posted by: jtusa
Originally posted by: dullard
Originally posted by: compnovice
Life > money
Just plain false.

70+ years of the wonderful/happy part of life > money.

The last few weeks of complete suffering << money.

Agreed, if it were me suffering, I'd rather my family let me die, cremate(sp?) me, then take the money and go on a Caribbean vacation and toss my ashes off the side of a yacht while partying it up.

Would you really go to the Caribbean and party after pulling the plug on your mom/dad/sibling? If yes, I am sorry for you and your family, obviously you had a very inaffactionate relationship.


eh wrong.

many cultures beleive that the passing is a time of joy. it is a time to remember how the person was while alive. to have a honor the person as he was and where he is going.

When my uncle died a few years he had it that we were to have one heck of a party and no boreing sad get together..and we did! On the property he owned we had maybe 30 of his close friends and military brothers. We went through at least 5 kegs of beer and plenty of food.

it was a celebration to the man and what ment to us. and trust me the guy was very close to me and my father.
 

waggy

No Lifer
Dec 14, 2000
68,143
10
81
Originally posted by: vi_edit
To further extend on the premium coffee & fast food thing...I'd throw in bottled pop.

I have a ton of coworkers that hit up the pop machine once or twice a day at $1.00 a trip...and do this 5 days a week. Just for a soda. We have three refridgerators in the break room next to the pop machines....BRING YOUR OWN!!!

Seriously...why spend $1.00 at a time when you can buy a 12 pack of cans on sale for $2.50-$3.00 and spend $.25 a can?

There's also free coffee in the break room, but instead they stop by the fru-fru shop and spend $2.50 on it. Is it really that much better after you dump your half gallon of creamer and 4 scoops of sugar in it?



yeap. iwould bring a small cooler to work with me. packed with 4 cans of pepsi, snack food and lunch. sure people would joke about it. but heck it was saving me money.

at least until i went to work at the last place. they had free pop =)
 

OS

Lifer
Oct 11, 1999
15,581
1
76
Originally posted by: Vic
Where does this money that we waste go?

lol, the irony is if everyone followed that list exactly, the economy would probably collapse.
 

waggy

No Lifer
Dec 14, 2000
68,143
10
81
Originally posted by: mugs
Originally posted by: Kalvin00
i aint paying no ****** $30000 when i go to get married

That's up to your future wife. ;)

The cost of a wedding adds up quickly.

Catering is expensive. A nice meal will range from $35 to $150 a head.
Location fees will probably run you $1000 or so unless the facility is owned by the caterer
Her dress will be $1000+. You can get one at David's Bridal for $500 or so (my wife did), but throw in a retardedly expensive veil, tiara, shoes, jewelry, alterations...
Photographer - now this is something we didn't want to skimp on, because your photographs will be just about all you have to remind you of the wedding. There are some pretty bad photographers who try to pass themselves off as wedding photographers, especially now that digital photography is cheap. A photographer will cost you $1000+ easily. More for a really good one.
Flowers/Decorations - You can go cheap here. One of my friends did all of her own flower arrangements for her wedding, and they looked very nice. The flowers themselves aren't cheap though. $1000+.
Band/DJ - $1000+.

Of course you can skimp and get cheaper. There are many ways to reduce the cost. You can go cheap on the food since that's the biggest cost. You can hook an iPod up to the sound system in the reception hall and skip the DJ. But a lot of people are getting married when they're older now, and they have the money to spend. I would never go into debt for a wedding, I think that's stupid. I wouldn't even want to spend a significant portion of my savings on a wedding. But if you have the money... it can make the best day of your life that much better.


I gave my wife a choice. a huge wedding or a house. she chose a house. we had a very nice small wedding. cost us around $5k
 

Rachael

Senior member
Mar 16, 2006
363
1
0
Thankfully, I'm not really guilty of anything on that list at all; however, I do think there should be a bit more.

-Perhaps cellphones with all of these options that people don't really use should be one of them. I don't know, surely, since I am just a basic cellphone person.

-Tabloids. It sucks that we know more about what celebrities had for dinner than what our own neighbors did to their own yard.

I'm at a loss for anything else but I know that there's tons more.
 

ponyo

Lifer
Feb 14, 2002
19,688
2,811
126
It's all good. I've money to waste and I'm wasting it on myself and my family. Is it really a waste when we get benefit out of it?
 

dullard

Elite Member
May 21, 2001
26,196
4,869
126
Originally posted by: Naustica
Is it really a waste when we get benefit out of it?
What if you could get more benefit out of something that cost less?

 

waggy

No Lifer
Dec 14, 2000
68,143
10
81
Originally posted by: dullard
Originally posted by: Naustica
Is it really a waste when we get benefit out of it?
What if you could get more benefit out of something that cost less?

sure everyone can. but who is to say that we can not spend the money on what makes us happy? sure you can get enjoyment out of a 25inch tv. but more out of a 61inch HD lcd.

who is to say what we can or can't spend money on.
 

LeadMagnet

Platinum Member
Mar 26, 2003
2,348
0
0
I thought it was just going to say Iraq ten times ( latest I herd something like 2 Billion a week, probably over 2 trillion before it's done)