Updated: May 16, 2024
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What you’ll hear in this episode:
Impulsive buying can leave you with buyer’s remorse and a ruined budget. In this episode, I’m giving you a practical strategy that will help you make better spending decisions and save more money.
Specifically, you’ll learn about The Four-Way Test of Spending:
- Do I really need it?
- Do I need it now?
- Is there a substitute or can I borrow it?
- Have I found the best value for my money?
Excerpts and Highlights
Often, desires or cravings go away after a few days or weeks. What you thought to be a “must-have” can become a simple “nice-to-have” or maybe even a “never-mind” if you give yourself time to think about the item.
Impulse purchases are emotional purchases. Taking a pause to ask these questions allows your mind to focus and think logically, especially if you’re buying a non-essential item that costs a lot of money.
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