10 Worst Things to Spend Your Money On

Whether you work part-time or full-time, love your career or are waiting for your big break, you are best off making wise spending decisions. Avoid these top 10 money pits like the plague.

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We all work hard at our jobs with our eyes on the prize: the paycheck. Part of keeping balance in your life is spending that paycheck wisely. These are the top 10 worst ways to waste your hard-earned paycheck.

1. The Lottery.

You are not going to win. Period.

2. Psychics.

Psychics are usually very good at cold reading people. "I sense you are very close to a family member..." Who isn't? Psychics are just people. They are not magic. Save your money. If you really want to figure out the best career path for you, do your research.

3. Credit Card Interest.

Do not put purchases on a credit card and then not pay it off. Thanks to Obama, banks that sell you credit cards must now tell you how much interest you will pay over time, depending upon how much you pay each month. Read your statement. Stop using your credit card; the interest is money down the drain.

4. Hotel Minibars.

This is where they get you when you travel. You arrive after a long flight, exhausted ... and the mini bar is full of expensive sugar, alcohol, and $5 tiny bottles of water. Very tempting when you are at your weakest. Think ahead and pack water and snacks.

5. Leased Cars.

You are better off buying a car you can afford rather than leasing a car and having nothing to show for it when the lease is up.

6. New Cars.

And when you purchase that affordable car, buy a used car and take good care of it so it lasts.

7. Cigarettes.

They are expensive and they are killing you. If you are addicted, you are better off spending money on one of the many methods devised to help you quit.

8. Fur Coats.

These are much more expensive than other winter coats. Plus, they carry the added financial of burden of requiring cold storage part of the year, depending upon where you live. Keep a non-fur winter coat in your closet for free all summer long.

9. Rent.

If you can afford to buy a home, you are much, much better off building equity than paying rent. Obviously, this is something people have to work up to.

10. Air.

Last but not least, this one is funny. Do not purchase canned air from Prague. (Yes, this is a real product.)

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