Finance blogger Len Penzo wrote a brilliant piece titled "Beware the Four Horsemen of Personal Finance."
Penzo’s "Four Horsemen of Personal Finance" are as follows:
- Cigarettes
- Lottery Tickets
- Alcohol
- Dining Out
Cigarettes: Forget the health consequences: Your higher spending level matches your addiction.
Lottery Tickets are often called a "Stupid Tax" considering the astronomical odds of winning.
Alcohol is much like cigarettes -- soft drinks are about a quarter of the price and you get free refills
Dining Out is five times more expensive than cooking in.