If you’d consider yourself an impulsive/compulsive shopper, and are always desperate for tips and tricks on how to reel-in your spending, the 30-day rule might just be the method you’ve been waiting for. What is the 30-day rule you may ask? It’s the easiest way to curb those unnecessary purchases and start on a better path to financial enlightenment of course – and everything you need to know about it can be found below!
The 30-Day Rule
The 30-day rule is a simple, almost self-explanatory, ideology that follows five easy steps:
- Step One: Anytime at all you feel the need to splurge on something you wouldn’t normally buy, like a new outfit, new games, new electronics, or really anything outside your basic needs and necessities, immediately put it down. If you’ve already picked it up, go put it back and leave the premises if you feel you can’t control yourself.
- Step Two: After you leave, either when you get home, or just when you reach your vehicle, make a note somewhere of the item you found. Include the date you found it, the store it was at, how much it costs, and any other details you think are significant or wish to remember about it.
- Step Three: Make sure you put the information somewhere you will be able to easily rediscover it. You can keep a special notebook for these types of lists, or keep the entries on your phone in a notepad, on your fridge, or in your calendar – whatever works for you so long as you will see/find it again.
- Step Four (The hard part): Whatever you do, do not go back for the item for the next 30 days. It doesn’t matter if it’s been over a week and you still want it really bad, or it’s only been 30 minutes, don’t give in! Control yourself and you’re controlling your spending.
- Step Five: Reevaluate. If you’ve done the work and made it through the entire 30 days without splurging, take some time to consider if you still need said item as badly as you did when you first saw it. In some cases, the deal/product is just too good to pass up, and you will actually use it often enough for it to be worth its value, and that’s okay (just don’t use credit for the purchase). If you’ve realized you don’t need it, however, or better yet you’ve forgotten all about it, that’s just more money saved for you!
While improving your finances and spending habits may be difficult, it’s also really worth it – especially when it comes to improving your credit. Just know, at Suburban Auto Finance, your bad credit is never a concern for us. We’re merely here to help, even if that simply means offering sage advice about how to avoid overspending! Apply Now to get your preapproval so you can start car shopping our available inventory right away!