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Money in the News: Wasted Money Edition

Budgets Are Sexy posts about 7 hilarious ways to waste money on luxury items.

$1,000 Doggy Perfume. By a company aptly named “Les Poochs” 🙂 I do give them credit for finding a very VERY specific niche though, I wonder how many they sell? (You can buy this unisex cologne/perfume per quarter ounce too, at “only” $250)

Battle Hardened posts about how a $99 chair cost them $5,000.

Later that day Steve called. “Bill will sign the papers if we pay him $5000″. I was looking at that damn faux-leather chair. “We have no choice. Do the deal” I said (or something like that). Damn. That chair just cost us five grand I remember thinking.

The Consumerist posts about how one person lost $470 to an ebay buyer.

After numerous pleading emails to the buyer, he now understands that I need him to cooperate in order to receive my insurance claim from UPS. Under their terms, they must inspect the envelope before they grant an insurance claim. The buyer now tries extorting me for money in order for him to cooperate with UPS. He wants $100 delivered into his bank account or else he says he will never pick up the phone.

Smart on Money posts about 9 common ways you could be wasting your money.

Credit card balances: Anytime you carry a balance on your credit card, you are paying the price in interest charges. Interest is money you pay for the privilege of borrowing. Stop carrying a balance, and you will find that you have more money in your pocket.

Mint.com posts an infographic on how banks are causing Americans to overdraft.

As Americans enter 2012, their choice of bank may be increasingly important. Since regulations implemented in 2010 limit banks’ power to charge overdraft fees, many banks are looking for new ways to recoup the income they lost from this type of service fee.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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