3 Strategies to Delay the Purchase

Mulling purchases increases your wealth

Photo by Hannah Busing on Unsplash

73% of purchases are impulse buys. Think about your last purchases. Were they planned? Did you add items to the purchase that weren't in the plan?

This is how it works for a lot of us. We see something, we buy it (or frequently charge/finance it) without considering the repercussions of this repetitive and insidious habit.

Consistent impulse purchases can significantly harm you if the purchases lead you to live/spend above your means.

3 Strategies to Delay the Purchase

1. Before you buy something, get rid of something. Make it a requirement to give away two items for every purchase; this way, you avoid hoarding and force yourself the opportunity to consider if the purchase is worth giving away two things.
2. Don’t make the purchase without thinking about it for 2–14 days. The more time you invest in thinking about the purchase, the more likely you will forget about the purchase altogether. There have been countless times I really wanted to buy something and instead thought it over for one to two weeks. What was the result? I forgot about it. Or when I remembered, I no longer felt the need or desire to buy it. Taking time to mull your purchases can significantly alter your…