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Unnecessary Collections

financial literacy

Recently I was talking to a person that was trying to figure out how to cut back on some expenses to save more money. For the most part it looked like all of his monthly income was pretty much allocated to something where it’s like he was saving nothing. I was then looking at all these magazines that he had which was pretty enormous. Apparently, he doesn’t even read them but it’s just that he has been subscribing to them so long that he figured there is no point in stopping as it would ruin a potential collection. The cost was easily on par with someone’s monthly cable and phone bill combined.

I used to do that a long time ago where even if I wasn’t interested in a subscription anymore it just seemed like a bad decision not to continue with it for the sake of collecting. Though the funny thing is I would have no real plans for it. Eventually I just stopped and the savings can add up. Those $30/year subscriptions can add up and not to mention the bad habit you will get.

It’ almost like a road to hording and that can definitely cause one to keep the most useless things. Unless you are specifically collecting something for an investment or memories it is usually better to just leave it I’d say.


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