Top 20 Biggest Money Wasters (w/ Fun Giveaway)

The Kraken is a mythical sea monster of gargantuan size. When this massive creature surfaced from the ocean depths, its wake caused an enormous whirlpool which sucked ship and crew down with it. Ocassionally the kraken would drag down entire ships with its tentacles. The arms of the Kraken were said to beable to reach as high as the top of a sailing ship’s mast.

In the 1981 version of Clash of the Titans, Perseus uses the decapitated head of Medusa to turn the Kraken into stone to prevent it from ravaging the city of Joppa and killing the sacrificial Andromeda.

Top 20 Biggest Money Wasters

If you are looking for ways to increase your cash flow, than look to see if your spending habits fall into any of these money wasters below.

The Kraken is a great metaphor for these Top 20 Biggest Money Wasters:

  1. Eating Out
  2. Pet Product Market
  3. Brand Names
  4. Gym Memberships
  5. Extended warrenties
  6. Subscriptions you never use
  7. Car Washes
  8. ATM fees
  9. Overdraft fees
  10. Informercial Products
  11. Paying for Storage
  12. Wrong Cell Phone Plan
  13. Going out to the Movies
  14. Alcoholic Drinks at Restaurants
  15. Energy Drinks
  16. Lottery Tickets
  17. Strip Clubs
  18. Driving a Gas Guzzler
  19. Buying a New Car
  20. Convenience Stores

Can you think of any others?

To Use Medusa’s Head on the Kraken in your own life….

Let me help you keep/get your personal finances in order. Let me giveaway something fun! So that you don’t need to spend the money on such money wasters, like those listed above.


MoneyFunk has been graciously been given a $25 Gift Card for the Movie Theater from to bestow on you my great readers. Just in time for the release of Clash of the Titans (link to trailer – Awesome). (okay, maybe I had to bat the puppy dog eyes a little to get the tickets…)

To Enter the Giveaway
Find the Kraken

The Kraken (like the one in the pic above) is also hiding somewhere in one of these 5 posts (listed below). When you find the Kraken, follow the instructions posted below its picture. Have fun hunting!


Only open to U.S (sorry if you are outside of the U.S.)

Must have valid email address

Only 1 entry per person

Winners with the correct answer will be picked by random drawing

Contest ends Wednesday, March 31st @8pm (PST)

Posts needed to search
  1. 7 Free Printable Budget Worksheets
  2. Homemade Cleaning Recipes
  3. How to Make a Budget
  4. 20 Ways to Cut Expenses
  5. 28 Ways to Make Extra Money
Happy Hunting!

This contest is closed. Winner will be contacted shortly. Congratulations to Roger of The Amateur Financier!

43 thoughts on “Top 20 Biggest Money Wasters (w/ Fun Giveaway)

  1. Leslie

    11. Staying up too late

    when I stay up late I eat more. Sometimes I decide I need to go grocery shopping and will spend more because the 24/7 grocery store is more expensive. Or I buy “want” items online.

  2. Annie

    I don’t believe pets are money wasters IF (!) you do your research into the best pet for you & your situation. I don’t consider my cats money wasters because I value their company and their health very highly. I’ve set up a vet account so I have funds available for vet visits should I need it, and I add about $25 a month to it; not great, but it’s a necessary cushion. This is in lieu of insurance, which I find tricky and which can be expensive if your animals are older and you have no health history on them (both of mine were strays from the shelter, so they had no history).

    PS: I found the Kraken!! πŸ™‚ But I’m not in the US, so don’t qualify…sigh…Good luck everyone!

  3. Simple in France

    I’m not in the US either :(. But fun idea!

    You’ve hit some good ones here . . .I’d like to add going out to movies! Stay in and watch them at home with netflicks or something cheap.

    Also driving an expensive car period–used, fuel efficient or not. You’ll pay higher insurance AND can sometimes pay higher repair fees.

  4. ctreit

    No doubt: Andromeda. Not only is she a princess but she is also the farthest galaxy that we can see with the naked eye.

  5. Brad

    Another money (and time) waster – making multiple trips instead of plotting one trip out for errands, appointments, and groceries (as well as not shopping from a list)

    Almost forgot – ‘premium content’ on cable TV (big money waster) which may qualify as a sub-part a. under #6, Subscriptions you never use.

    Calibos was a terrific villain – loved his last fight scene with Perseus and his thundering bellow.

    The story, the ensemble of characters and the respective actors along with Ray Harryhausen’s effects work all combined to make it such a classic movie.

  6. Jeremy Johnson

    Strip clubs a money waster? Are you sure? πŸ™‚
    And gym memberships, those are useful. And we have four cats – they are just so cute and cuddly.
    The rest I agree with though – and even strip clubs are a money waster πŸ™‚

    Found your Kraken! What a cool idea you had there.

    …the mechanical owl, the stygain witches, and Zeus

  7. Moon Hussain

    I gotta cut down on the strip clubs…… j’k. #8, #13, & #14 are spot on. But I can’t believe you put pets as money wasters on the list, Christine!

    Speedy and Simba are very unhappy with you right now…

    1. money funk

      Okay, okay… LOL. I love Cody and Little Kitty, too. And my fish that are way to expensive. I updated to mean the pet product market with all its frilly gadgets and things. Like the new plants I continuously buy for my fish. Those dorky fish are spoiled!

  8. Sharon

    Hmmmm, I guess I waste a bit of money! Let’s see, pets, eating out, and going out to the movies…but I would waste this money every time as I get value from each of these things!

    We are considering a family gym membership…I think we may do it so that we can all get back into shape, and do it together. So, I guess you can add that to my list….

    My money waster item to add? Not making a list and sticking to it when you go to the grocery store! Too many temptations can wreak havoc on the grocery bill. I should know, I’m a pro! πŸ™‚

  9. money funk

    LOL. So many great answer(s) for Money Wasters and the Kraken Entry.

    Okay, I updated the ‘Pets’ to say ‘Pet Product Market’. I love my pets, but they are spoiled with their ‘extras’.

    And strip clubs.. well, I know there is arguments there. I guess if you feel the $100 you dropped on the dancer was worth it, then its not totally wasted. But now think, if you invested that money into a high yield account after X amount of years… okay, delayed gratification or wanting it now. πŸ˜‰

  10. Little House

    I loved Clash of the Titans when I was a kid! I had forgotten that it was Medusa’s head that turned it to stone.

    Love the free printable worksheets, I’m going to download a couple of them. Great tips too on the 20 ways to save money.

    Lottery tickets; why do people buy them endlessly? If they took all that cash they spent monthly and put in into a savings account, they’d be much better off!

    1. money funk

      But did you find the Kraken and follow its instructions? Free movie tickets for one random entry – if they have the correct answer. πŸ˜‰

      BTW, my husband is one of those endless lottery ticket buyers. It drives me insane. Put all that $ into an account and he’ll have his million in no time. LOL.

    1. money funk

      Now, I might have to disagree with the Day Spa Beauty treatments. LOL. But I guess that goes with the same level as strip clubs.

  11. Revanche

    Athena FTW!!

    No one really understands why I won’t drink when we go out … yes I’m a lightweight and that makes me a cheap drunk but c’moonn, that money could better be spent on yummy food if it has to be spent at all!

  12. Mac

    Athena. Not sure why, but probably because of the actresses that have played her. I used to watch Hercules when it was on tv.

  13. Blair MacGregor

    Christine – Yeah I would definitely add some variant of the “food-you-buy but-sits-in-the-cupboard-for-12-weeks-and-then-goes-bad-because-you-forget it’s-there or-don’t feel-like-eating it-or-was-part-of-some-diet-trend-you never-started” etc. (wow that’s too many hyphens; its 1:17 AM where I am, forgive me!)

    Also books. I read lots of books. Unfortunately many of them end up on my shelf as I just don’t have time to read the many different titles that I pick up. Normally I would never say purchasing books would be a “money waster” but if you don’t read them, it’s true! (also old college textbooks that are still hanging in my storage room that I never sold…why???)


    1. money funk

      That was a long winded statement. LOL. But, I agree. There is much to be eaten in my cupboard.

      Books, too. The depreciate so fast. But I give them to my library every once in a while. Since they are opening a huge new library in the next year. πŸ˜‰

  14. Money Reasons

    What a fun, creative post (clap-clap-clap-clap)!

    Hmmm, money wasters… Okay here’s one:
    Driving your car to work!

    An alternative would be to telecommute a few days a week augmented by car pooling (or riding the bus) on the days you don’t telecommute!

    1. money funk

      Well now if you have a small car like me with good gas mileage and see that the train is going up in price and it took more time for me to get home (by half hour)… that one doesn’t apply. LOL.

      But in truth, many don’t have the economical little car with awesome gas mileage… would definitely apply!

  15. Mike


    “#17 Strip clubs”

    seems a little out of place. Cracked up a little bit after reading that one.

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  17. money funk

    Strip Clubs… now if you really enjoyed yourself for the money than I would assume its worth it. Just like my day spas are worth every penny. But if you are looking to cut back… cutting these two would definitely give you cash back in your wallet! πŸ™‚

  18. Julie


    Eating out/carry out is our biggest waster….and Diet Coke out of the machine at work….gotta switch to water.

  19. Forest

    Ha ha, I was wondering where the post was going :)… “Alcoholic Drinks at Restaurants”… does that mean gettng stupidly drunk at home is ok ;).

    I won’t enter as the card isn’t much use to me here but it’s a cool contest…. Best of luck to the participants.

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  21. Roger, the Amateur Financier

    Heh, strip clubs seem a bit out of place on this list, but is still a big source of wasted time and money. Plus, it’s one funny addition.

    Zeus, it has to be Zeus. The original Mac Daddy, fathering children with humans, nymphs, gods, and everything in between. I’ll say it again: Zeus.

  22. Financial Samurai

    I wanna see Cassiopeia!

    The biggest money waster ever is buying any asset (property, stocks, etc) at too high a level. Buy too high and spend forever trying to recoup your investment.



    1. money funk

      You are welcome! I did think it turned out well. I am going to need to come up with the next great idea for a contest! πŸ™‚

      You did find your cert in the email, yes?

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