8 Things Poor People Waste Money On — Said Warren Buffett

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Neglecting Personal Development

The skills development and knowledge will increase your earning potential dramatically.

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Relying on Credit Cards

High-interest rates will quickly outweigh any advantages when you don't pay the full amount each month


Chasing the Latest Technology

It's tempting to buy new gadgets however, the model from last year works equally well, so don't waste the money

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Overspending on Clothes

Selecting classic, long-lasting clothing over flashy, costly brand names can yield substantial savings.

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Buying New Vehicles

Buffett suggests buying pre-owned cars and holding them so long as they're reliable, instead of falling for the enticement of the latest model.

Unnecessary Subscription Services

Subscription services, if not properly monitored, could be a drain on your finances. Check them regularly and remove ones that aren't worth your time.

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Although gambling may seem like an easy way to increase wealth, Buffett emphasizes the importance of knowing the risks

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Frequenting Bars and Pubs

Spending on social activities like drinking in bars can cost you money. Making the decision to choose smaller social gatherings that are more affordable such as home gatherings can save you money.