American Morning

Tune in at 6am Eastern for all the news you need to start your day.
May 19th, 2011
05:33 AM ET

Question of the Day: What do you waste your money on and why? is telling you the top ten ways you waste your money. Ranking among the top ten are gourmet coffee, lotto tickets and cigarettes. Number one biggest money waster according to CNN Money: ATM fees.

American Morning wants to know: What do you waste your money on and why?

Filed under: AM Asks
soundoff (30 Responses)
  1. Ireporttwo


    May 19, 2011 at 8:53 am |
  2. thomas flener / riverside mich.

    would have wasted my money if i did not take out a loan in june 2008 from 401 k to pay off my credit card in full. lost my job year later,still paid on my loan + 6% to myself for 21/2 years.the rest 1/2 took as a distribution after i turn 59 1/2. if i would have left it in there would have lost half of that plus !!!!! 18% card from 7% card plus princple

    May 19, 2011 at 8:38 am |
  3. Toni Mikel

    Books! from Barnes & Noble; books on my iPhone! Reading is my splurge and compulsion. That and roses, bulbs, garden stuff... But that's an investment to my property landscaping so it doesn't count.
    And I get grouchy when I can't afford it:)

    May 19, 2011 at 8:26 am |
  4. Anonymous

    BINGO use to be one of my extracurricular activities. It was a relaxation game to calm the nerves from a long and exhausting day of work and occassionally, receive incentives throughout the game. Now, it appears as though the 'houseplayers' are the ones who are winninng consistently. Therefore, Bingo is a waste of money!

    May 19, 2011 at 8:25 am |
  5. Michael Friedman

    Fresh Kona coffee from Hawaii (Pele Plantations)and using BlackBerry to do NYT (New York Times) crosswords

    May 19, 2011 at 8:21 am |
  6. Karen Good

    I waste (not!) money on organic foods and meats for obvious reasons. One more thought to add on the gasoline prices . . . because of the cost of oil, which we heat our home with, we pay on average $400/month to stay warm and have hot water, which is more than I pay for gasoline per month. Ouch!

    Karen in CT

    May 19, 2011 at 8:21 am |
  7. Aurora

    Candy at the grocery check-out line. Used to be just 50 cents; now it's up to $1.19 each in some stores! Adds up if you go every other day. NO CONTROL! (Mine, that is.)

    May 19, 2011 at 8:21 am |
  8. Deborah Robinson

    I waste money on relationships with worthless, weak men. I hate it. I am constantly talked into lending money to people (particularly men) who seem to dream up believeable stories. I don't know the reason why because they do nothing in return. Maybe I can get a movie deal or some kind of psychiatric help, but I can't afford it because I have no money (no pun intended). Please help, Dr. Phil or somebody. Unbrainwash me!

    May 19, 2011 at 8:19 am |
  9. Jessi

    Waste money on CABLE. Organic fresh foods are a must even when my grocery bill is 20% higher than a single person buying frozen foods and non-organic produce.

    May 19, 2011 at 8:18 am |
  10. marge

    As a person with a Master's degree making less than 30K a year, my guilty pleasure is going to Goodwill once or twice a month. A 5 or 10 dollar purchase at GW is a wild extravangence. Being poor sucks.

    May 19, 2011 at 8:17 am |
  11. Danielle O.

    I don't know that it's a waste, but I spend some of my extra money on luxuries: Artisanal European cheese, fine dining and pedicures. No American singles in this house.

    But the ATM fees are a waste...

    May 19, 2011 at 8:17 am |
  12. Kathryn Mattison-Gomez nobody needs that many 🙂

    May 19, 2011 at 8:13 am |
  13. Dakota

    I waste $49 a month on a gym membership that I have NEVER used since I signed up last June. That could have been a mini vacation!

    May 19, 2011 at 8:11 am |
  14. Timothy McGarigle

    I've been unemployed for seven months. I waste my dwindling resources on road trips. For example in a few weeks I'll be vacationing for a month at the Mayo Clinic in a last ditch effort to save my daughter's life.

    May 19, 2011 at 8:07 am |
  15. Robert Hulbert

    I like to think of what peolple in previous generations, like grand parents needed to see where i waste the most, like many people and waste A LOT of my money on a cell phone that i like many really do not NEED but it is a convenience, on cable & internet bills, other entertainment expenses as well as unnessecary insurances...its funny how we all have the money for these expenses where our granparents owned thier houses rather than live a life of leisure, entertainment, and convienience as many of us with mortgages and credit card bills really do.

    May 19, 2011 at 7:58 am |
  16. Paul Squire


    If the rapture is really upon us Saturday isn't the question of wasting money a little moot?

    May 19, 2011 at 7:53 am |
  17. Benita

    Overdraft fees.

    May 19, 2011 at 7:52 am |
  18. kakuranbo

    I waste my money on cigarettes ... its a must have before going to work. lol

    May 19, 2011 at 7:51 am |
  19. Grego


    May 19, 2011 at 7:47 am |
  20. Scott

    Like a lot of people I waste money on Lotto tickets. I know the odds, but do it anyway.

    May 19, 2011 at 7:17 am |
  21. Jeff H

    I find my wasted money is what the governement holds out of my paycheck which pays for the idiot in the White House to fly around spreading lies & begging for money.

    May 19, 2011 at 7:10 am |
  22. Dennis Popovich

    Casino gambling: nothing like having some mindless fun once in a while to take your mind off things and relieve some stress.

    May 19, 2011 at 7:01 am |
  23. Name*Pat C

    I waste my money on cable TV when a network gives an hour of airtime to a moron like Ted Nugent

    May 19, 2011 at 7:01 am |
  24. Jane Thompson

    I live on Social Security and do not use ATMs, buy lottery tickets, or buy coffee at a coffee bar. I do not waste my money, and do not find it necessary to do so unless the Coldwater Creek outlet has a 50% off sale.

    Jane Thompson
    Georgetown, Texas

    May 19, 2011 at 7:00 am |
  25. Loree

    One of the most wasteful... movie snacks – overpriced popcorn, candy and sodas. What a WASTE! Going out to eat. I used to eat lunch out every day – Wow – thousands wasted.

    May 19, 2011 at 7:00 am |
  26. Bobby

    Sattelite tv is where i waste my money as the same shows repeat 24/7...only plus is the 3 of you in morning and A Coop at night. Oh and Mr. Blitzer.

    May 19, 2011 at 6:59 am |
  27. Dan McGuire

    I waste my money on gasoline driving to cemeteries to take pictures of for findagrave. I get exercise searching for the grave and the people, who requested the photo, appreciate it.

    May 19, 2011 at 6:58 am |
  28. crazy bob

    gas, taxes, taxes, gas. gas because i have to get to the store to buy expensive groceries and taxes so the government officials can stick money in their pockets and spend it on stupid useless projects!

    May 19, 2011 at 6:58 am |
  29. Kathy kogut

    I waste my money on Groupons – I know i'm saving money, but am I??

    May 19, 2011 at 6:55 am |
  30. angelas

    My money goes to things for my phone,( e.g. music, apps, etc.), eating healthy, things for my home, clothes and jewelry, and a few indulgences. I think I reward myself and buy little pick me ups when I feel down

    May 19, 2011 at 6:23 am |