You find something that you REALLY want to buy. Perhaps it is a bigger purchase than you normally make. Or maybe you don’t quite have the money in your budget to buy it. What is a financially smart person to do? Consider implementing a 30-day rule for saving money!
It prevents impulse purchases that you might later regret: Gone are the days of realizing that you bought something you will never use. 30 days gives you plenty of time and distance to decide if what you want is a product that will be worth the cost.
It keeps you from spending money you don’t have: We all have times where we get excited about something that seems like an innovative product or great buy. But when you need to use credit for that purchase or have to delay paying a bill to get it, the cost is not worth the benefit.
The 30-day rule is a wonderful way to keep your spending habits in check. If you are prone to impulse purchases or tend to go over your budget, the 30-day rule will help you to refocus sloppy spending habits into more conscientious budgeting.
What are the other benefits to saving money in 30 days?
One potential benefit of waiting to spend money is that the item you want could possibly go on sale and you could save money. Waiting will also give you time to do research to decide if there is a better option.