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How The 30 Day Rule Can Destroy Your Impulse Spending
“A budget is telling your money where to go instead of wondering where it went.” Dave Ramsey
You are in a department store buying your kids back to school supplies.
You notice a cute new pair of shoes in the section over. You instinctively walk over to get a better look. You know you are here for your kids BUT can’t help yourself.
It is like the store has control of your thoughts and is pulling you towards the shoes. Your feet head toward them powerless to stop.
You bend down to pick them up and start looking for someone to bring you your size.
We have all been in this dilemma and felt guilty later that we bought the item. Well I can show you how the 30 day rule can stop your impulse buying.
What is the 30 Day Rule?
The rule tells you to take the money you were going to spend on the impulse buy and store it in a savings account instead for 30 days. Write down all the information about the item like name, where you found it and how much the item costs in that store. Place the paper with the info in a prominent location like on the fridge or on your bathroom mirror. Think about the potential purchase for a month. As the 30 days starts dwindling down do a little research and see if you could find the item elsewhere cheaper. If after this time you still want to purchase the item, then go for it.
This gives you an opportunity to think about the purchase and if you desire to buy the item. Going against the impulse urge will feel unnatural especially if you are a big impulse buyer.
Many times, the impulse purchase is an emotional one that does not contain any thought process. You see it and buy it on the spot like you are on automatic pilot.
Buying items on a whim can ruin budgets and cause more debt.
Impulse Buying Tendency Trait?
Did you know some people have a personality trait called impulse buying tendency? Neither did I but it’s true. Just like if a person is pig-headed or is passive or articulate or clever this trait is woven into that person’s genes.
