The 30-day rule – How to save more money


Recall those days, walking in town, along store corridors heading to your car or the bus station. Your mind is running wild with ideas on how to cut costs for the month so you can save a little. 

As you walk, what do you see? Items ranging all the way from shoes, jewelry, clothes being sold. Outside one of the stores you see a cute pair of jeans worth $15 and you fall in love with it. You really have to get it. It is so cute. How can you do without it? Immediately, you get into the store, ask for the price, maybe bargain a little and the next minute its being packed for you!

Did you really need the pair of jeans? When you were thinking of cutting costs, did you forget that the purchase of that pair of jeans is an expense?  This is impulse buying!

Our minds are wired in way that if you really want something, you will sacrifice and get it despite the costs.

Unfortunately, this is not the case on saving. Most people want to save but they actually never action on the this. They only save only and only if they need to!

Think of instances where you REALLY NEED to save. Where saving is not an option. I know of a few! When you need to buy a pair of shoes because the one you wear is worn out; when you are required to move into a new house because the one you are living in is no longer secure; When you need to save for a bus ticket because it is mandatory to go home for the Christmas celebrations.

Saving requires commitment. In theory, it is easy to spend less than you earn. This is not the case in real life.

The 30-day rule is very simple. If you see something you want then wait 30 days before you buy it. Put the money it would cost into a savings account for 30 days. If after the 30 days you still want the item, go for it! Just not under credit! This is no longer impulse buying as you have thought of it and wanted it for 30 days.

This rule cannot work if you cannot afford to purchase the item you are really desiring for.

How to implement the 30-day rule?

Let us consider that pair of jeans that you saw outside the store corridor.

  1. Remember the urge to want to buy that pair of jeans? Get into the shop and check it out. Know how much it costs. Leave the store.
  2. Once you get home, note down on a piece of paper, maybe a sticky note, the details of the item. What type of item (Pair of jeans), where you found it and how much it costs($15). Also note down the date of when you saw it and when 30 days will end.
  3. Keep your notes in a visible place so you can consider those items during the following month.
  4. For the next 30 days, think whether you really need the pair of jeans.
  5. At the end of the month, is the urge still there? If so, go ahead and buy it.

The 30-day rule does not advocate denying yourself. It campaigns for delayed gratification thus giving you enough time to research on the item you want to purchase. This goes along way as sometimes it might save you from disappointing purchases.

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