WHY IT IS IMPORTANT: Waiting 24 hours before making a big purchase allows you to determine if the purchase is really something you “need” vs. “want.” Impulsive buying can be a serious hindrance to attaining your financial goals as they are unplanned. The idea of setting goals is to have a plan (budget) to attain them. Impulsive buys are not a part of the budget.
KEY POINT(S): Waiting 24-hours before purchasing big-ticket items or more minimizes impulsive buying - Period. Don’t let countdowns and store-offers force you to buy when your budget is not ready!
MY EXPERIENCE: I bought a car once simply because I didn’t feel like I was in an “updated” car anymore. Shame on my thinking here. Having the new car did not make me any happier and didn’t make my drives any better. It was not the best investment at the time. I was 1 year away from paying the vehicle off. The car didn’t have any major issues and ran well. If I had slept on my decision to buy a car, I would have saved thousands of dollars in interest fees as I ended up purchases via an auto loan. Currently, I lease a car, which is a first and I will explore leasing in another blog.
QUESTIONS FOR YOU: Do you wait for 24 hrs.+ before making big purchases? What’s the most impulsive purchase you’ve made? Did you experience buyer’s remorse?
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Julie Carter, Recruiter.🧐 Coach.💪🏾 Mother.🙋🏾♀️🙋🏾♂️🐕 Professional.👩🏾💻 Wife.💍 Imperfect. 🙃Living to inspire so you may inspire to live.🤝🏾 You ARE NOT alone!🤗
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