There is a trending article titled, “12 Expenses Successful People Don’t Waste Time or Money On” originally published on Entrepreneur.

I suspect most of the regular readers are savers since we are always looking for the best travel deals.  I generally considered myself to be financially disciplined, so I thought it might be fun to write a commentary on the 12 expenses listed in the article.

1. Lottery tickets

Well, I already failed at the first one. I know the lottery is a fool’s game, and I certainly know that you have better odds getting struck by lightning than winning a lottery.  Still, I buy them once in a blue moon (3-4 times a year?) especially when there is hype around a large jackpot. A couple of dollars to fuel daydreaming is good for the soul, right?

Status:  Failed

2.  Bank Fees

If we’re strictly talking about bank maintenance fees, then I’m golden.  If we’re talking about fees like annual fees for credit cards, then no.  Since most of the card benefits outweighed the annual fees, I’m giving myself a pass on this one.

Status:  Passed

3.  Interest on credit cards

I pay off my credit cards each month. I don’t spend more than I can afford.  I don’t believe in paying high APR rates on credit cards, period.

Status:  Passed

4.  Inflated interest rates

I have a healthy credit score, so I don’t have to deal with inflated interest rates. I’m also not currently in the market for any major purchases.

Status:  Passed (N/A)

5.   Late Fees

I pay off my bills on time; I have zero interest in paying late fees.

Status:  Passed

6.  Extended Warranties

I usually decline all extended warranties.  If an item breaks after the original warranty ended, I guess I am out of luck.  I prefer not to deal with extended warranties, as warranty exclusions and exceptions are often more hassles that they are worth.

Status:  Passed

7.  Impulse Buys

I don’t do crazy impulse buys.  But, if I see a really great travel deal or a technology gadget (apple watch, anyone?), I’d splurge on them.  I also have a sweet tooth, so I might “impulse buy” when I see tasty sweets at a store.

Status:  Failed

8. Low-interest savings accounts

It’s not quite exactly in the same category; I should really fix a low yield/return on a non-contributing retirement account.

Status: Failed

9. High-end brands

I don’t care for high-end designer items, so this is not even a blip on my radar.

Status: Passed with flying colors!

10. Bad real estate

Contrary to the article, I don’t consider putting down roots on a place as bad real estate.  There is also the whole buy vs rent debate (and in this case, using real estate as an investment engine).  When it comes to real estate, it’s important to do your due diligence, whether you’re buying, renting, or investing.  Period.

Status: Passed (N/A)

11. Extravagant inheritances

Inheritances? What inheritance?

Status: Passed (N/A)

12.  Tons of TV channels and video games

I actually don’t watch a lot of TV or play video games.  If I become addicted to a game, I have the self-control to delete the app.  That said, I don’t think not having tons of TV channels or video games is indicative of success. It just means that there are other things I prefer to spend my time on, over TV and video games, instead.

Status: Passed


I failed on 3 out of the 12 expenses in the list.  Did you fare better or worse?