Wastes Of Money That Aren't Really Wastes

The are many items that typically come up in discussions about personal finance, budgeting, and wasteful spending. However, if you look beyond the most basic math, it may actually make sense to not make changes to your spending habits. Here are a few of those budget line items and how they might actually help you.

Lottery Tickets

On the odds alone, lottery tickets are a losing investment. The odds of winning are so low that even with the largest jackpots, the expected value of your money will always be greater if you save it for retirement instead of playing the lottery.

However, when you play responsibly, you could actually benefit from playing the lottery. At worst, you get the entertainment value of dreaming what you'd do with the money and talking about the drawing with your friends. This isn't that much different than going to see a movie except for the fact, that if you do beat the odds and actually win, you will change your life forever.

The bottom line? It's perfectly OK to spend some of your fun money on the occasional ticket, but don't think of it as an investment, and seek help if you feel like you're becoming addicted to gambling.

Buying Lunch

It's true that you can save a lot of money by bringing a sandwich to work every day. However, always eating at your desk can cost you in missed networking opportunities that could have led to better jobs and promotions.

In the business world, who you know and regularly talk to matters. Try to leave the sandwich at home at least once a week and join your coworkers for a chat at a local cafe.

Towing Memberships

There are numerous clubs throughout the country offering free towing and other automotive services if you maintain an annual membership. Most drivers will pay far more in lifetime membership fees than the benefits that they use, and towing costs are usually affordable even if you have to stretch your budget a little bit.

The real benefit is when you're stuck out on the road in a strange town in the middle of the night. Instead of worrying about trying to find a reputable towing company and convincing them to come to you, your club will already have a contracted tower on speed dial.

To learn more about towing memberships in your area, contact a local towing services company today.

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