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Money Monday: The $50 Rule

Money Monday: The $50 Rule

Over the weekend I came across this great article by Jessica to help prevent impulse buying! If you’re reading this thinking that you aren’t susceptible to impulse buying, it’s possible you’re correct. However, it’s also quite likely that you’re kidding yourself. (Have you ever been to Target? I mean… come on!)

What can you do to prevent yourself from making any rash decisions and buying things you don’t really need or want?

Try The $50 Rule! Let’s take a look…

It’s simple – take the price of your ‘must-have’ item, and divide it by $50. The resulting number is the number of days you should wait before making the purchase.

Is that $150 designer fall coat reeling you in? Take a few days to compare options online or in other department stores. You may just find a better AND cheaper version!

For all you impulse shoppers out there, I hope this will help you think twice before buying something you may not really want!

Posted on Sep 30, 2013, in Money Saving Tips and tagged $50 Rule, Impulse purchase, Money Saving Tips

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