January 9, 2014
What is the 30 day waiting period? Why should you apply it to your life?
What is the 30 day waiting period? Why should you apply it to your life?
You should try to wait 30 days before making any big or out of the ordinary purchases. This period will let your emotions settle and give you time to think and reflect on whether or not you need this item. A lot of times we buy “things” that do not fit our lifestyles on impulse. This this time period will hopefully help you overcome this problem.
Well said, Chris. Let’s recap.
Any time you are considering making a purchase that is a want (most things are a want) PAUSE, and do not buy it for 30 days. This will reduce your emotional impulse purchases. If after 30 days, you still want that item (many times you will have forgotten what you wanted) and you have the cash to pay for it, go ahead and buy it.
The 30 day waiting period will reduce your wasteful spending, which will in turn help you to pay down debt, increase savings, and ultimately lead you to financial freedom. Believe it!