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Here are several things people waste money on, according to Kamel.
They likely dont need multiple delivery apps or streaming services.
Anarticlefrom the University of Illinois showed that just over 53% of people are frustrated with fast food prices.
Thats likely because prices at restaurants that used to be considered affordable have now increased with inflation.
Kamel also explained it pays to research alternate cell phone plans, especially from smaller carriers.
Gambling
Gambling could become a serious addiction.
Kamel advised against small gambling purchases, too, like lottery tickets.
He explained they arent a good use of peoples hard-earned money.
Instead, he recommended that people invest the money they would have spent on lottery tickets.
Buying New Cars
Kamel explained that actual millionaires buy used, reliable cars.
Plus, Kelly Blue Bookreportedthat most new vehicles lose 20% in value during the first year of ownership.
Thats why its smart to purchase a used car, preferably in cash.
Getting locked into anexpensive monthly car paymentcan reduce cash flow that people could use for other financial goals.
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