When you spend money impulsively, its not necessarily on luxuries.
When you buy boring stuff, you may not think twice about it.
It doesnt feel special, so you add it to your Amazon cart and go on about your day.
Here are five of my favorites.
The 10/10 Rule
Lets say you find aquality coffee makeron sale $30.
You dont need a new one, really.
I mean, you do drinkso much coffee.
I give myself ten minutes to think about whether or not I should buy something.
If its $10 or less, I just buy it and stop wasting my time.
It also ensures that you set a limit on your splurge, ideally keeping your budget intact.
Feel free to adjust the rules to your own liking, but this is what works for me.
More often than not, I put the item back.
From there, give yourself a per use spending limit, like $1.
Lets say youre thinking about buying a new $400 robotic vacuum.
Maybe its also on sale at Bed, Bath, & Beyondthey have some sweet deals that day.
You estimate youll have it for five years and use it once a week.
At $400, your cost per use is $1.50.
The Wait a Week Rule
A friend introduced me to this rule.
This way, he gave himself a chance to think about the purchase rationally.
It also gives me time to do research and confirm Im getting the best deal, he told me.
Adjust the rule however you see fit.
Wait 24 hours for any purchases over $25, for example.
Or wait a month for anything over $100.
The Splurge to Save Rule
This is one ofmy favorite impulsive spending rulesbecause its a win-win.
Even if you splurge, youre still being (kind of) good with money.
($30 for the splurge, $15 for your savings).
This way, you save money no matter what decision you make.
If you dont spend the money, well, you still have cash in your pocket.
If you do spend, youre still saving.
You have to think a bit longer about every purchase you make because itll cost you even more.
By definition, impulsive spending is unexpected.
Might as well set yourself some boundaries.
Set aside $25, $50, or $100whatever works for your incomefor mindless spending every month.
Yes, ideally, youd never spend mindlessly, but again, it happens.
However, with a budget for this, youre prepared for the worst.
(And you’re free to still take a stab at resist spending!)
It also helps keep your splurge in check.
Without a limit, youre more likely to buy the Bonavitaandthe robot vacuum.
Youll tell yourself you only live once and you dont want to do it covered in cat hair.
And then, youll destroy your budget entirely.
With a limit, you give yourself permission to say yes occasionally, within reason.
So put a number on it.
A treat is a lot more fun when you know youll still be able to pay rent.
