Bangalore: Budgeting is a safe method to achieve a secure financial life. Because budgeting helps you to figure out the true value of money. This way you figure out what are your needs and wants and learn the key is learning the difference between what's worth the money and what isn't. Most of the time people get into impulsive buying without reflecting on the need of the product. They later realize they amount they splurged was a big waste. It is you money, and you have to take care of your finances and every penny you spend. Spending money on something that is really not worth is like cheating yourself. It would be wise if you transfer your cash toward some expenses than wasting it on others. You can consider spending your money other useful products rather than spending it on items given below. Lottery Tickets The only idea behind buying lottery tickets is, they think they are going to win a fortune overnight that will improve their financial conditions. The chance of winning most big-ticket lottery jackpots is well over 100 million to one. In fact lottery tickets cost more than the expected gain, so one maximizing expected value should not buy lottery tickets. On an average you will end up losing more than you win in the long run. And if you're buying a lottery ticket for recreation and having fun, then you can argue that it is not a waste. But financially, it is a waste.