Control impulse spending with 7 days rule.
The 7 day rule is a simple method to control impulse buying.
- Whenever you are aroused to buy something online or offline, stop.
- Note the name of the object, date and the price in a diary or on a sticky note.
- Wait for 7 days
- Look back at the note to see if the urge to buy the item is still there.
Most of our expenses are to satisfy our impulses, not our needs. Many retailers bet on this impulse buying of customers and lay their offer around this urge by creating artificial scarcity and time limit. Remember taglines like, “Buy now for 50% off, the offer will expire tonight.”
In 7 days time, the delay causes the mind to lose the excitement for the instant gratification which it was hoping for in the first place, and the product might not appeal to us as it was 7 days ago.
If the urge to buy the item is still there after 7 days, buy it, you may actually need the product.