Do you ever find yourself buying things you don’t necessarily need or making impulse purchases? There is a simple trick that you can use to help you avoid making impulse purchases and buying things you really don’t need. This easy tactic doesn’t take any time at all and can save you tons of money. You might have heard this rule called the 10, 10, 10 rule, and it actually works! Check out how each of the steps works and start saving your hard-earned money now!
You’re at the store, and you come across something that catches your eye, and you really want it. Do not take it right to the cash register, do not throw it in your cart. Wait for ten minutes and think about the purchase. Do you need it? Why do you want it? Will this make your life better? Can you really afford this?
If you’ve made it through the first ten minutes and still decide you want that thing after thinking about it, ask yourself if you will still like it, use it, or need it in 10 weeks. This is a great way to evaluate purchases for things like clothing, shoes, and household items. For example, if you are thinking of buying a dress for a wedding, you’ve been invited to, ask yourself if you would wear it after the wedding for anything or if it is being purchased to be worn once. If you’re buying a reusable item like clothing with the intent of wearing it once or twice, it is probably not a smart purchase. If you can see yourself using the item in two months, it may be a reasonable purchase.
You should be thinking ten years ahead for large purchases. This includes things like vehicles, homes, furniture, and jewelry. Before buying any big-ticket item, ask yourself if it will still be worth it in ten years. If you can see yourself still using the item after ten years and believe that it will add value to your life in a decade, it will likely be worth it. For these items, it is advised to plan ahead and budget to make the smartest purchasing decision.
The 10-10-10 Rule Can Reign In Reckless Spending
If you frequently make impulse purchases or often find that you don’t really use all of the things you buy, then the 10-10-10 rule is absolutely for you. Keep in mind that this ruse won’t apply to everything, especially things like groceries or other items that you absolutely need. Many people have used this rule to help them save their money and make smarter buying decisions. We hope that this can help you too!