Apply the $100 a day rule to resist impulse buying
Impulse buying can affect anyone, but if you’re tech minded, the things we can be tempted to buy can be especially expensive.
Here’s a tactic suggested by the No Credit Needed blog: a self-imposed cooling off period on impulse buying decisions, also known as the $100 a day rule.
Basically, for every $100 that tempting toy will cost you, wait one day. So, $1000 game console? Wait 10 days, then see if you still want to buy it.
The nice thing about this is you don’t have to say “No” right away – you’re saying “Maybe, I’m going to think about it”. In my experience that’s much easier to accept when you’re impulse shopping than a flat out no.
The $100-a-Day Rule Prevents Impulse Buying [No Credit Needed via Get Rich Slowly]
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Comments
Very clever idea…Even after a day we will probably rethink and decide that ‘we don’t really need that Toy right now’
You can go the other way too – for an impulse buy of $4.17 (say, coffee and cake) wait one hour :) Want a large double whopper meal, you have to wait just over two hours. Can of coke – half an hour :)