Get Rich Quick by Second Guessing Those Jeans | The Odyssey Online
Start writing a post
Life Stages

The 30 Day Rule Of Saving For Extra Cash in 2019

It's time to get your impulsive spending under control once and for all.

296
The 30 Day Rule Of Saving For Extra Cash in 2019

The Get Rich Slowly blog recommends using the 30-day rule to stop yourself from an impulse buy. If you're anything like me, you waste countless hours drooling over the Lululemon website, envisioning yourself prancing around in the new Reveall collection leggings with that new bag on your shoulder. In an effort to curb my appetite for overpriced athletic clothes that i'll never workout in, I tried using the 30 day rule of saving money.

Heres how it works:

  1. Whenever you feel the urge to splurge — whether it's for new shoes, new clothes, or a new car — force yourself to stop. If you're already holding the item, put it back. Leave the store. (This especially hurts.)
  2. When you get home, take a piece of paper and write down the name of the item, the store where you found it, and the price. Also write down the date.
  3. Now post this note someplace obvious: a calendar, the fridge, a bulletin board.
  4. For the next thirty days, think whether you really want the item, but do not buy it.
  5. If, at the end of a month, the urge is still there, then consider purchasing it. (But do not use credit to do so.)

Now I'm not a big impulse spender, but something about the holiday season really makes me want to throw cash around. Sales, deals, and bogo promotions really test my self control when it comes to clothing items. After using the 30 day rule, I found that the easiest way to test and hone my willpower is to force myself to wait. A friend uses something I call the "$100 Rule." When she has the urge to buy something that costs $100 or more, she forces herself to wait at least a week. This way, she has time to think about whether or not she actually wants the thing or if she's just being impulsive. Adjust the numbers to suit your own budget. Maybe you're flat broke and even a $25 purchase will set you back. Change it to the $25 rule. Or, maybe, you're ballin' and $100 is nothing to you. Cool, then make it the $1,000 rule.

The point is just to give yourself time to make a conscious spending decision that fits your budget. Bonus: when you wait, you also give yourself time to look for deals or discounts.

Impulse spending isn't always as expensive as Lululemon leggings, though. Sometimes it's lipstick at the cash register or a new phone case on Amazon. For small purchases like these, I follow the 10/10 Rule. If I'm thinking about buying something that's $10 or less, I don't spend more than 10 minutes thinking about it. If the item costs more than $10, and I'm still not sure, it goes back on the shelf. No matter what. It's basic, I know, but for those impulse items, it works fairly well. Again, you can adjust the numbers to suit your own situation.

In trying to exercise your willpower, you also don't want to burn yourself out on it. Part of exercising your willpower is understanding your limits. No one has an unlimited supply of willpower. That said, you probably have more than you think, it just takes learning to build it, which can be especially hard when it comes to money. These tips are harder to implement because they focus on restraint, but in the long run, they'll probably pay off more (literally).

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
ross geller
YouTube

As college students, we are all familiar with the horror show that is course registration week. Whether you are an incoming freshman or selecting classes for your last semester, I am certain that you can relate to how traumatic this can be.

1. When course schedules are released and you have a conflict between two required classes.

Bonus points if it is more than two.

Keep Reading...Show less
Student Life

12 Things I Learned my Freshmen Year of College

When your capability of "adulting" is put to the test

3473
friends

Whether you're commuting or dorming, your first year of college is a huge adjustment. The transition from living with parents to being on my own was an experience I couldn't have even imagined- both a good and a bad thing. Here's a personal archive of a few of the things I learned after going away for the first time.

Keep Reading...Show less
Featured

Economic Benefits of Higher Wages

Nobody deserves to be living in poverty.

302403
Illistrated image of people crowded with banners to support a cause
StableDiffusion

Raising the minimum wage to a livable wage would not only benefit workers and their families, it would also have positive impacts on the economy and society. Studies have shown that by increasing the minimum wage, poverty and inequality can be reduced by enabling workers to meet their basic needs and reducing income disparities.

I come from a low-income family. A family, like many others in the United States, which has lived paycheck to paycheck. My family and other families in my community have been trying to make ends meet by living on the minimum wage. We are proof that it doesn't work.

Keep Reading...Show less
blank paper
Allena Tapia

As an English Major in college, I have a lot of writing and especially creative writing pieces that I work on throughout the semester and sometimes, I'll find it hard to get the motivation to type a few pages and the thought process that goes behind it. These are eleven thoughts that I have as a writer while writing my stories.

Keep Reading...Show less
April Ludgate

Every college student knows and understands the struggle of forcing themselves to continue to care about school. Between the piles of homework, the hours of studying and the painfully long lectures, the desire to dropout is something that is constantly weighing on each and every one of us, but the glimmer of hope at the end of the tunnel helps to keep us motivated. While we are somehow managing to stay enrolled and (semi) alert, that does not mean that our inner-demons aren't telling us otherwise, and who is better to explain inner-demons than the beloved April Ludgate herself? Because of her dark-spirit and lack of filter, April has successfully been able to describe the emotional roller-coaster that is college on at least 13 different occasions and here they are.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments