In this era of online shopping, the 7 Day Rule is a wise strategy to prevent impulse purchasing. It is like a mindset hack that anyone can practice in order to save money. This applies especially to impulse buyers or recreational shoppers. We have all been there. You just got your paycheck, you pass by a store, and that thing you’ve been wanting is staring right at your face. Sometimes, you just find yourself buying things you end up never using.
The principle of this rule is simple. Whenever you think of buying something, wait. Give yourself seven days to decide before you purchase. Think about it, weigh out your options, and slow down. Most often, you won’t feel the need to buy it anymore.
It does feel good to buy something new. But as the days pass, before our very eyes, something new turn into something old. We realize we didn’t really need this thing that we bought and it just adds up to the pile of things we already own that we never use. And before you know it, you are hundreds to thousands poorer than you were 5 minutes ago.
In this instant gratification world we live in, one of the most important things we need to learn is to wait. One of the best money saving lines I have seen this week says, “Screw motivation. What you need is discipline”. Saving money requires commitment and discipline in order to become a habit. This 7 day rule is a good practice that could save you big bucks. Imagine how much you’ll save if you apply it. Being smart financially can even lead to millions!
But by the end of the 7th day, if you still feel the same about the thing you want to buy, if it still keeps tugging you and you haven’t forgotten about it once, then go ahead and make a purchase. That’s probably something that you need and can benefit you in the long run.
Have you heard about this rule before? Let us know your thoughts!