Consider It for a Day
The break works because waiting allows your brain to make a cool, rational decision. The nicely designed electronics or smart jeans tempt your brain’s reward center and make your fingers fumble for the money. But pause, take a deep breath, and wait. The break allows your reward system to relax and cool down, allowing your brain to make the sensible personal financial decision you know is right. During the break, check your finances. If you want it, you can buy it tomorrow.
The 24-hour rule is a guideline. You can pick the best time period. For some, 2 days or a week may be better, especially if 24 hours have no effect on the desired consumption pattern. Longer periods of time may be required if the item is expensive, like a television. You must also determine how much an impulse purchase must cost before the 24-hour rule applies. Consider how it feels when you consider your remaining budget or payroll balance.
Buy With Your Girlfriend or Mom
Just before you throw money on the counter, reverse the decision with someone else. It could be your girlfriend or mother. They may be able to dissuade you Having someone to play ball with helps you rethink your decision.
You can also try to imagine what a person you know who manages his finances well would do right now. Consider the person as a model. What would the model do? Is it a must? Consider extra time? Remember the summer vacation and save for the plane ticket? Making wise choices becomes easier when you consider your role models.
Consider Another Must
Imagine what you’ll miss out on if you spend money now. Do you get less advice on red steaks, summer vacations, or other things you value? If you think about it, the points must come from somewhere. Impulse purchases eat into your monthly budget and deplete your savings. If you agree that you must choose something else, the smart jeans, which cost half a plane ticket to the Mediterranean, may suddenly become less necessary than the plane ticket.