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| 9.4 | Money Tip - Wait a Day to Buy |
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How to cut down on impulse buying by giving yourself a waiting period before you buy.
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 | It is best to go to the store with a list. Only buy things on the list! If you see things that you want, tell yourself that you can have it but only if you go home and put it on the list. This way you get a waiting period, you avoid purchases that you do not need (that you will regret later!)
Give yourself one day for every $5 the item costs. If it is a magazine or some candy, wait a day. When you go home, ask yourself if you really need it or if you can get it some other place (you can make cookies at home and you can get magazines at the library or online). If it is something larger, wait a few weeks. You may find that your need for the item has passed.
The little purchases add up. One candy bar or one magazine per day can add up to hundreds of dollars per month! If you used this money to pay off debt or increase your investment nest egg you could be looking at hundreds of thousands of extra dollars when you retire.
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Further Information
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| Leave a Comment About the Tip: 'Wait a Day to Buy' |
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| Comments | Showing Comment 1 - 1 of 1 |
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| 1 | Avoid the mall |
| Don't go to mall when you are bored! You end up making impulse buys you do not need.
Take a hike instead. Or walk around the block.
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| Comment 1 On:Wait a Day to Buy
Added On: 2/8/2009 3:10:25 PM |
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