We’ve all done it… spent money on something we just absolutely had to have, then ended up completely wasting our investment by hardly ever/never using it. Its called “Impulse buying” and its what makes you buy that candy bar as you’re waiting in line at the grocery store. You didn’t have “candy bar” on your shopping list when you went into the store, but sure enough, there is a candy bar in your hand when you leave.
The folks at financiallyfit.yahoo.com came up with a list of 5 things you spend big money on… then never seem to use afterwards.
1) Exercise Equipment
Of course you get it with the best intentions! The thinking is probably something along the lines of, “I know I’m not working out right now, but if I buy a (insert desired exercise equipment here) and have it in the house, THEN I’ll definitely start working out.”
Unfortunately the reality is… you end up with a very expensive clothes hanger/dirty clothes hamper/place to stack piles of things.
For many people, their fantasies about starting to exercise come around the beginning of the year with their New Year’s Resolutions. But according to a study in the Journal of Clinical Psychology, 25% of New Year’s resolutions don’t make it past the first week. And 54% fail within the first six months.
That totals to $1.2 billion wasted on exercise equipment each year. Wow.
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