Belmont Buzz

Rule of 48

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Rule of 48

Do you struggle with being an impulse buyer? See a sale that you just feel you HAVE to take advantage of? While this habit can result in a good deal, it can also result in a hit to your bank account. Or worse … credit card. A good rule of thumb is to follow the “Rule of 48”.

It’s a pretty simple rule: whenever you are thinking of making a purchase, just wait 48 hours. Give yourself the time to really think about it. Is it something you really need? Are you replacing something that actually needs replacing, or just because? Is it something you can afford that doesn’t put you in debt?

Sometimes just hitting pause on a purchase helps give you more clarity and helps to avoid unneeded purchases. Obviously the 48-hour rule wouldn’t apply to everything in your life, but it would be up to you to determine what things you should be considering more carefully.

If you want to get more precise, you could set up a 24-, 48- and 72-hour rule, using price ranges for each time frame. This can help give you even more time to pause when needed. It’s finding that balance between being fiscally responsible, while still living your life!

Do you have any tips and tricks for helping to avoid impulse buying? We’d love to hear from you!


Image by Nattanan Kanchanaprat from Pixabay

| Categories: Wealthy Ideas | Tags: impulse buying, money saving, savings | Return
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