Making large spontaneous purchases can often lead to buyers regret and even worse adding more debt to your bottom line. It's a trap that you'll want to avoid and there is one trait that'll save you from this heartache.
Procrastination.
This is a series of Money Hacks to help to make extra money by creating habits in your life. Previously I'd touch on a few of these Money Hacks but wanted to go more in-depth and didn't want to produce a 10,000-word monster article for you to read.
This series will only be completed when I run out of ideas to share so make sure you bookmark this site.
Avoid Spontaneous Purchases
Yes, we've all been there, seeing something so amazing you just have to have it, and with a little salesmanship coercion you find yourself, walking out the door having purchased something you didn't need but rather want.
It's a trap you don't want to fall into and the larger the purchase the bigger the buyers remorse, especially if you know you can't afford it.
But there's one trait that can save you from this remorse and it's procrastination.
You see people who procrastinate rarely make spontaneous decisions and this is a helpful money hack in itself. Give yourself time to decide on something before making large purchases.
And if you aren't a procrastinator you'll need to develop a habit to hold off on any large purchases for 2-3 weeks to ensure you don't jump in before you've considered all the ramifications.
Having debt especially for furniture or cars is a no-no and even if you like replacing these things periodically, make sure you SAVE for them before you go window shopping.
As having the money in your hand will actually make you think twice about spending it.
I'm not sure what it is, but after you've toiled away saving your money, you'll begin to value it more.
And if you can hold yourself back from spontaneous purchases you might just give yourself a fighting chance to break free from the debt cycle.
Do you often suffer from buyers remorse?
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