 One would think the poor people will be frugal. It turns out that the rich folks do a better job when it comes to spending their money Than most impoverished people Poor people allow their money to control them instead of being intentional and careful about their spendings They waste it buying stuff that they don't need Okay, let's get this straight poor people like every other person do their best to pay their debts Save some money and the likes However, some still end up putting money in some random places in this video I'll share with you nine things poor people waste money buying if you are new here Consider subscribing so that you don't miss out on exciting videos like this one Expensive homes we all look forward to buying our homes because it's one of the best days of our lives It's a place where we go to every day for comfort relaxation and the safest building ever So we spend months upon months looking for the perfect structure that will provide enough space for our family and also house specific kitchen living room and other features However in doing this you always have to remember your budget You see when it comes to getting a place of your own a sites wanting to get a space that will make us comfortable We get tempted to buy something that will look better than our friends neighbors or even family members houses as a result We overshoot our budget poor people mostly fall into this category They think they have to have the best house among their clan Even if it means going into debt to meet that need or want two Expensive clothing poor people like to pose as though they belong to a particular financial class So they spend money that they don't have buying ridiculously expensive clothing and accessories So instead of purchasing clothes and shoes that they can afford comfortably They opt for high-end brands three latest versions of popular gadgets Except if the latest expensive gadget has a direct connection to their line of business or jobs Rich people do not waste money on acquiring costly trending devices The truth is that most electronic gadgets become outdated and depreciate way too quickly Which is why rich people make it a habit to find out whether the expenditure will be worthwhile at that particular moment or not Poor people on the other hand want to be seen as wealthy So they jump on every trend as quickly as possible Not only do they dislike the idea of being seen as inferior, but they also don't like to come late to the sin So they jump on every trendy thing as quick as they can four impulse purchases Most of us are guilty of impulse purchases We see a beautiful bag or shoe lying by the window in the store And because it's so pretty we can't get our eyes off it We get tempted to buy it even if we do not need it A worst-case scenario is when the product comes with a discount We think we are lucky to be there at the time and if we do not get it We may never get the opportunity anymore The difference between the rich and the poor is that the rich are careful planners And they are intentional about their spending poor people on the other hand Believe that it is an opportunity to make a good purchase even if they don't need it They fail to ask themselves questions like this Do they need it? What is the cost implication etc With them it is more of a situation of I saw it. I liked it and I bought it Five fancy toys for their kids Yes, we all hope to raise our children in a way that they understand the value of a dollar Learn how to save to buy only the things that they need not want etc It is hard when we see what our friends are buying for their kids So we get tempted to do the same as a way of proving that we are good parents What poor people don't understand is that while it is nice to treat your kids well and spoil them a little It is also essential to remember your finances because in the end Your kids will only focus on the toys for a few weeks or months before moving to another So make sure you plan correctly before getting them all the fancy gadgets in the toy shop Six junk foods There's a misconception that healthy foods are expensive However, when it boils down to it, junk are more expensive Have you ever taken a close look at the prices on the basket of fresh veggies? They are affordable Junk foods on the other hand are expensive because they don't last as long as veggies also They don't do your body any good Which means that in the long run loading your body on excess junk might lead to specific health conditions That will require a lot of money to fix yourself back Also, contrary to what most poor people think Instead of going to fancy and expensive restaurants regularly Rich people save money by buying fresh vegetables and foods high in healthy fats 7 big TVs and cable subscriptions According to zig sigler rich people have small TVs and big libraries and poor people have small libraries and big TVs You'd be surprised how much money poor people spend on cable subscriptions internet subscriptions and other entertaining activity Including video games After carrying out TV research in different households Glen Enoch said We expected high-income households to own more devices But we did not anticipate that low-income consumers of all devices had greater usage 8 Gambling gambling is a game of chance It is wagering money or something of value in an event with an uncertain outcome Why spend money on something that does not have a clear result? Well T. Harve Ecker once said rich people play the money game to win Poor people on the other hand play the money game not to lose money Do you know the law of multiplying money with money? Well, while the rich have a better understanding of this law the poor don't Well, if the people invest their money and let the benefits of compound interest work for them Poor people on the other hand try gambling as a faster way to multiply their money Guess what? It rarely works because it is a game of chance 9 Pricey skin care products Most of us want to get rid of the dark spots in our skins clear acne Brighten our complexion firm our skin and remove wrinkle etc All of this require a lot of money as a result of this desires We end up spending so much money on different pricey skin care products in a beat to achieve our skin goal The problem with most of this products is that they end up not working because most of them are way too complicated If we offer products with fewer ingredients and more attention to our hygiene and diet We won't have to waste so much money purchasing all kinds of skin care products Thank you very much for watching our videos If you like this video watch more videos on our channel and subscribe We love you