10 things that make you poorer

Some purchases keep costing you over a lifetime of use; others may have been a bad idea to begin with. Here's what to know to minimize unplanned spending.

By Liz Weston, MSN Money

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Mosca Noche
Aug 8, 2012 11:21AM
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We have become accustomed to believing that a 'want' is a 'need'. We need oxygen, water and food to live, We don't need a TV or a car to live. We want those things because they make us feel good and make life easier. 

 

I do believe of the things they listed, the smart phone is the best return for your money and even if I was on the brink of being homeless, it is the last thing I would get rid of. If you are applying for a job, you need a way for the prospective employer to contact you via a phone call or email. You can use the phone to look up jobs without getting in line at the public library's computer. You can read and keep yourself up to date on the news , surf the net for relevant information for educational purposes and pay bills. It takes the place of a home computer and DSL/Cable line. 

 

PaulVIII
Aug 8, 2012 11:18AM
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Also, getting married and having children can make you very poor, actually you could live in poverty for the rest of your life. 
Atlanta Observer
Aug 8, 2012 11:04AM
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Yes, houses cost money to maintain.  But, today's market is a BUYER'S market and there's a killing to be made over time.  Plus, almost every new homeowner is automatically introduced to the Home Warranty concept immediately upon signing all those papers.  A reputable, reliable Home Warranty can be extremely cost-effective, paying for a new furnace, water heater, even a new washer, dryer, or even refrigerator.  When I purchased my home in 2007, the typical policy went for around $200.   Try spending less than that to replace any of the above!!
workingmom127
Aug 8, 2012 10:53AM
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Who wrote this article, Capt. Obvious?
rockinrolls
Aug 8, 2012 10:53AM
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It's always someone else's fault for my failure, right? Me being poor isn't MY fault!! LOL. Even our president blames Bush!  Taxing the rich isn't going to bring this country out of this tailspin!  Wake up people!!!  Let the rich be rich.  Who cares?  They're the ones that employ people and are wanting to make even more money than they already have, and so expand their business to make more money, thus hiring more people, thus lowering the unemployment rate, thus less goverment hand outs, thus less goverment debt, thus more taxes paid by all!!  WAKE UP PEOPLE!!  Another 4 years of blaming Bush and this country will never recover.  REMEMBER THIS WHEN YOU GET IN THAT VOTING BOOTH IN NOVEMBER!!!
Suffolk.County.New. York.Attorney.
Aug 8, 2012 10:50AM
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The no car thing was so stupid. What they c/h focused on are the various ways we piss away money on something that is a necessity unless, perhaps, you live in a city with transportation like Manhattan (not all of NYC, mind you).  On the other hand, you DON'T need a duded out SUV either. The cost to buy and run is over double what a good, solid sedan for 4, like a Civic, Corolla, or Hyundai (trusted mechanic said they are underpriced)...I drove my Camry 263K miles r/t to Manh, it was hit 5X (nuts out there, like the jitney trying to make an illegal left between the police car and my car in the middle of Chinatown), It was bought new, maintained beautifully and I have a great mechanic, so it it c/h gone longer but for the hits. Grabbed a Corolla from an estate (yes, little old lady did drive it-husband maintained it the same way my car was) to replace it. Nothing fancy but when I come out of court, Costco, WM or other crowded lots where people don't care about other cars, I don't flip out about the dinks. There are also cross-overs and other cars with AWD IF you live someplace snowy. Maybe some people need the SUVs but a small percentage of those out there. And remember, people don't get "jealous" looking at those in Hummers and Escalades-we look down on you as being insecure, maybe a little short in key organs.
canook1971
Aug 8, 2012 10:48AM
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wtf,....really you pay people to write this kind of stuff....smart phone cost money????Really.... what kind of stupid people you got working there?  With all the **** going on in the world you write and post this kind of stuff...very disturbed on the quality and intelligence of your writers....what next you going to report that there is water in the ocean.

Yules78
Aug 8, 2012 10:48AM
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Cars don't have to cost that much. This assumes a monthly car payment, I think. and unfortunately, a lot of people tend to think that every 5 years they need a new car... if you think that way, then yes, you'll be out half a mil by the end of your life. If however, you buy an affordable car, pay it off, and then drive it  until it either dies or it's no longer practicable to repair it, you will have saved a LOT of money. My car turned 10 years old last year (with 90k miles) and suddenly needed several repairs about $3,000 worth. The car was only worth about $3500 and a lot of people told me it wasn't worth repairing, but if you have a way to pay for the repairs, do it. Now that the car is running just fine again, if i even drive it for another year, at $380 a month (hypothetical new car payment), this repair will pay for itself. and if it keeps driving for another 2-5 years, well, then i'm way ahead financially. And I agree about the iphones. I don't even have a data plan on my phone and don't intend to have one. My husband has an iphone but only through work. I'd never let him pay for it out of pocket. In these uncertain times paying $500 for a phone plus $100 a month so you can play with it is just plain irresponsible, unless you are a millionaire.
ILuv.Stuff
Aug 8, 2012 10:39AM
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Instead of writing stupid articles MSN should do something about spam.. Life is so lonely.. Get some cats.

FAKE KISS
Aug 8, 2012 10:39AM
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OK...I have to comment on this story.

If you are single and can rent something for less than 25% of your monthly income.  That is good.

But if you have a family you are better off buying a house you CAN afford, buy a house that is no more than 4 times your household TAKE HOME annual pay.

In other words what the writer is trying to say renting a CHEAP apartment is better than buying a super expensive house.  (The taxes, interest, extra utilities, maintenance and repairs can easily go above the typical affordable apartment.)

ALL the other items on the list have the same theme:

Get a 30/month cell phone plan...not the 120/month iphone cotract

Get a 20 thousand dollar car, take car of it and drive it 15years or more.

Nothing wrong with TV, it is ok to get cheap cable...but avoid 100/month tv service.

They forgot going out to eat, keep it to less than 4 times per month.

Ed Miller (1965 Corvair)
Aug 8, 2012 10:35AM
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Another space wasting article from MSN.  The number one thing should have been wasting time and money reading their stupid articles.
I feel dumberer (I did that on purpose) for having read this article.

LINK MASSING
Aug 8, 2012 10:30AM
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   THEY NEVER MENTIONED A WIFE.
val6887
Aug 8, 2012 10:23AM
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No matter what things cost ya money. So us single moms arent allowed to watch tv. Geesh...dont 24/7 but it can be my down time when you cant afford to travel, vac, go out for the night.

 

I agreed w the beanie babies from the start.

 

Luis Jauregui
Aug 8, 2012 10:12AM
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I stopped smoking in April 2010 and have calculated that I am saving approximately $2,400.00 dollars a year not to mention I am much healthier than when I was smoking that pack and a half a day.  It's the little things that you seem to overlook that can make a difference in ones life.

mcphix
Aug 8, 2012 10:11AM
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rent for 20 years and what do you have,  240 rent receipts
Dach.57
Aug 8, 2012 10:09AM
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So now I should feel Rich I don't have a TV, Nor a car, my House is payed for. And I don't gamble, I am a disabled , and aVeteren, my wife just passed away and I have $200 dollars to live on .Oh boy!!!

cum_on2
Aug 8, 2012 10:01AM
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Eating food is making you poorer.  Just eat dry uncooked rice and beans.  Be sure to drink plenty of water from the tap.  DON'T BUY GROCERIES, as they must cost  thousands and thousands of dollars a year!
acaretaker
Aug 8, 2012 9:55AM
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It is nice to see how we defend our right to be a consumer. Even when its killing us. We are a salesmens dream come true.

 

When we want what we want when we want it, nothing will stop us, no common sence will enter our mind, our willingness to change or disregard our consumer behaviours. The smart us goes out the window.

 

We are addicted to more. More is our war cry, I need it, I need it, I need it.

 

If I always do what I have always done, I will always get what I always got. If you like what you got, keep doing what your doing. If you don't like the way things are, there is only one person place or thing that will fix it, thats you 

Daniel Rollins
Aug 8, 2012 9:52AM
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Video games. They have high prices and resale is worth less than pennies on the dollar.
bobc47
Aug 8, 2012 9:44AM
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A house can make you poorer if you do it wrong. i bought a house in 1981 with a 30yr mortgage and paid it off in 1996. It  costs my $333 a month for taxes and I do have to keep the house up which costs about the same over time. The point is I live in a 6 room house for a bit over $650 a month, it would cost me at least twice that in this market for a decent 4 room apartment. The house would sell for about 7 times what i paid for it originally in this environment.

By doing that i saved tens of thousands in interest and I put that saved money towards my retirement. Because of my low housing costs and increased savings I retired at 62.

The key is to buy a house that you can afford and pay it off before you retire so you won't have to worry about a mortgage payment in retirement.

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