wasteful spending

Wasteful spending refers to expenditures that do not provide a meaningful return or benefit relative to their costs. This can include unnecessary purchases, inefficient use of resources, or funding projects that fail to achieve their objectives. In both personal and organizational contexts, wasteful spending can drain budgets and hinder financial health. It often occurs due to poor planning, lack of oversight, or failure to prioritize essential services and needs. Identifying and minimizing wasteful spending is crucial for better resource management and overall financial sustainability.