Many of us struggle with our spending habits especially around this time of year. There’s a funny target meme that exemplifies impulse spending.
Some old rules stand the test of time. J.D. Roth of Getrichslowly.org reminds us of the 30 day rule, a simple way to control impulse spending. The rule starts with not purchasing items on impulse, but forcing yourself to leave the item in the store. Write down the date, name, and price of the item along with the store name. Post the note somewhere you can see it. After 30 days, if the desire to purchase the item is still there, then consider buying it. If you decide to buy it, do not use your credit card to make the purchase.
Resist impulse buys and follow the 30 Day Rule. To read J.D.’s full piece, click here.