Reasoning For The 30-Day Rule
Waiting a month distances us from the planned purchase emotionally, filtering out any impulsive decisions.
Waiting for 30 days before making any purchase makes us use our discipline, foresight, planning and restraint, and would feel exactly like curbing our urge to eat junk food, which tastes great at that moment but is not a healthy option for your body in the long run.
MORE IDEAS FROM THE ARTICLE
One can develop healthy spending habits and avoid wasting money by using the simple 30-day rule: Whenever there is an urge to spend on something, just wait for 30 days.
One can buy whatever is required while making sure that the basics of personal financial management (budgeting and doing savings) are covered. The trick is to just wait for a month and then make an assessment of the planned purchase.
Most stores use the ‘SALE’ marketing gimmick (both online and offline) so that we can splurge our money now, instead of waiting.
The system is gamed for us to spend our money wherever we go. We need to stop wondering where our money went and start telling it where to go.
It is a budget rule to help people reach their financial goals. It states that:
Compulsive shopping is when chronic, repetitive buying habits have serious consequences and become a disorder, similar to drug addiction. Conscious spending is one of ways we can overcome this emotional need to buy stuff.
An inability to handle money effectively and lack of impulse control makes us spend like crazy. Our emotions take over and we feel comfort in spending, and we unconsciously spend on stuff we don’t need, creating a vicious circle of debt followed by further compulsive spending.
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