Mama always says stupid is as stupid buys. Wait, that’s not what Ms. Gump said? Well, she should have because it’s true. Some products would have gone the way of lead paint and the pet rock if the world was filled exclusively with those with even slightly above-average intellect.
Few items depreciate as rapidly as a car. Paying 15% interest for years on a depreciating asset? Tell me you haven’t read Money for Dummies without telling me you haven’t read Money for Dummies.
How’s this sound: You can enter into a lifetime contract to own a portion of a modest condo in Clearwater Beach. But, you can only use the condo for a part of the year because you’re sharing the condo with several strangers who are splitting the cost.
In a similar vein to the lottery, gambling is voluntarily losing money. Those who can justify gambling as an entertainment cost, and know full well the money could evaporate, are forgivable.
If you have enough money to care for your progeny and their progeny, we can forgive your purchase of one pair of Gucci baby shoes. It’s a novelty you can frame in a memory box or something.
Also known as multi-level marketing, pyramid schemes thrive on the backs of those who do not realize they’re in a pyramid scheme. No, really, the product is great!
I say this with the most compassion I can muster. Please don’t take it the wrong way. You make poor financial decisions if you’re spending even one penny on a contest that offers you odds of one in 303 million.