Middle-Aged Money Traps

Does Age Really Come With Wisdom?

I’m willing to argue that although this may have been the case at the time of this saying’s birth, it was clearly thought of before the Gulf War, the Internet and Donald Trump existed.

Unfortunately, we live in a world where all these things exist and as such you can’t rely on age or wisdom to save you from the biggest enemy to your savings/bank account: yourself. As much as everyone loves to think of themselves as relatively ‘street smart’, there’s no substitute for true wisdom. With middle-age, for many, comes a time when more money is readily available and there are usually more bad ways to spend the money than good.

If you’re anything like this fool then chances are you’ve been drawn into at least one of these ‘Middle-Aged Money Traps’, I know I have, but can you guess which one? 


Its a rare occasion that Waitrose will be the only Supermarket in a town or city, there is almost always a cheaper alternative. I know what you’re going to say: ‘But you can’t put a price on quality Harry.’ You’re right. can’t. Neither can you. The retailers do that and they also know full well that they can stick a huge markup on any imported brand or ‘Extra Special’ product and excitable ‘foodies‘ (like me) will throw money at them until they hand them over.

Instead of needlessly tossing your money away on marginally better products, why not cut back and save the money for something really fancy…like caviar – that’s definitely not a waste of money.

The Forex Market (or any other form of gambling)

There’s something very alluring about dipping your toes into the Forex Market. Much like online gambling, it requires no formal education. As long as you’ve got some money in a bank account somewhere then the good men and women of the Market will always be happy to take it from you. It is, of course, a completely feasible way of making money, thousands of people do it every day. But for most, it simply amounts to an excuse to look very smart with a load of graphs in front of you, whilst getting a slight buzz from risking your money.

So you’re a gambling man? Fantastic – create a cooperative, buy a lottery ticket, separate yourself a fund each month to do it. Gamble responsibly, don’t pretend to be a Wall Street pro and lose your savings.

Your Very ‘Own’ Website

I know it’s not been long since I was ripping into the aggressively pervasive nature of the Internet, but there’s something so perniciously greedy about it that its always worth reminding people that there is an option to simply not get involved. Prime time television, which is watched by mostly middle-aged people now, is chocked full of opportunities for hungry middle-aged people to ‘create-your-own-website’. The hyphens are the important thing to note there.

If you need a website built, talk to a teenager or find a programmer online. They’ll make you a good looking site, like this one, and you’ll be in complete control – don’t give your money to the charlatans at Wix.

Awful Electronics

There is an argument that the majority of electronics products are not ‘built to last’. Conspiracy theorists attest to Apple’s faulty design of the iPhone, claiming that the hugely popular £700 handset is only built to last two years at most, whereas less reputable companies have been accused of building their budget items to last even less time than that. I love iPhones so I’m not about to slate them here, what I will say is that, if you’re in your forties and you think buying a bread maker is a sounder option than simply buying a loaf of bread or baking one from scratch, then you need to take a long hard look at yourself.

If its a piece of consumer electronics and you’ve seen it advertised on a shopping channel, or the box proudly states ‘As Seen On TV’, then avoid like the plague.