Money Talks News: Things We Spend Too Much On
Wed, 21 Aug 2013 12:13:38 GMT —
The average cost of a wedding these days? According to the knot.com, $28,427. That's an awful lot of money for one party.
Then there's funerals: another expensive tradition. Average cost? According to the National Funeral Directors Association, $6,560.
It's once-in-a-lifetime events like these where money and emotions meet and the budget is quick to get bagged. But if you plan ahead, you can easily cut your costs.
For example, from being your own DJ to renting your dress, there are tons of ways to save on weddings.
When it comes to funerals, cremation is a fraction of the cost. And you can even buy a casket from Costco.
But when it comes to overspending, that's just the beginning. You pay 15 to 20 percent extra for new vs used car. That's a lot for that new car smell.
And who says you should pay 3 months' salary for that engagement ring? Oh, that would be DeBeers, a cartel that virtually controls their price. Solution? If you can't live without, at least shop them hard.
How about food? We too often buy it prepackaged and processed, which means paying more for less nutrition. Or we buy heavily advertised brand names, when cheaper generics would do.
Then there's clothes - putting on designer labels makes designers rich. But it doesn't do much for you.
So why do we pay too much for all these things? In a word, research.
From weddings to groceries, if you spend time, you'll spend less money.
For more money-wasters, and tips to get everything in your life for less, go to moneytalksnews.com and search for Money Wasters.
For Money Talks News, I'm Stacy Johnson.