The 30-Day Rule Success Secrets

By | September 29, 2019

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The 30-day rule is meant to stop any impulse buying that will lead to a big dent in your pocket and buyer’s remorse.

As you know, impulse buying has caused many Americans to sink deeper and deeper into debt, paying more and more of their hard-earned money in the form of interest, often from credit card debt.


The 30-day rule works by allowing you up to 30 days to carefully consider and decide whether what you are thinking of buying is a genuine need, or just something that you want to buy.

The aim of this rule is for you to confirm that what you are thinking of spending on is a need.

This is because spending on wants is to be avoided, as it will make your finances worse.

Now, I know you would like to make your finances better, because you’re here reading my blog post.

Remember that the 30-day rule is meant for pricey items and services that you are considering paying for.

Whether something is pricey depends on you and your finances.

To me, anything that costs $100 or more is considered pricey, but to you this figure may be quite different.

Usually, the higher your income and the lower your debt, it would mean that $100 is less likely to be thought of as pricey.

Your pricey may be anything that costs more than $80, or $200, or $300.

Success secret #1

Beware the real higher cost of your purchase being considered

Don’t forget that if you are buying on credit or hire purchase, the real cost of what you’re buying is clearly going to be more.

Given that the average credit card interest rate is 17.54% (information from, a $100 purchase would cost at least $117 if it is paid after a year.

If you intend to pay your purchase off in 2 years, the same item can cost you more than $134, which is 34% more!

So, bear this real cost in mind when considering your purchase.

Success secret #2

Become aware of the lost opportunity

Another cost when considering buying something is lost opportunity (opportunity cost).

Opportunity cost is what you will forego if you spend your $100 now. It means that you could have reduced your debt by $100 if you didn’t buy the item.

You would have saved on the interest payable on the $100 as well. This interest would be $17 after a year, and $34 after two years, if the $100 isn’t paid off.

Click on the picture below to watch a video on how you can curb impulse buying. I promise it’s fun and you’ll get to see adorable pets!

Success secret #3

Use the 30-day rule effectively

When there is something you are thinking of buying, take up to 30 days to consider carefully whether it is something you really need.

If the purchase is really needed, compare prices for the item, by going to price comparison websites. This research would save you money by getting you the best deal.

But think again! How urgently do you need this item?

Do you need to buy it so soon? Or do you need it later, and therefore you can think about buying it later, when you’ll have saved up the money to afford it outright?

Also, there are alternatives to buying something outright:


A great way to save money is to borrow it from people you know.


Perhaps you can rent this item for a much lower price – this is especially a great way of saving money if the item is not to be used regularly, like a ladder or power tool.

Get it free

Let colleagues and friends know what you need. Look for free stuff online. You may get lucky and receive a free gift, saving you good money.

Buy used

Think about buying this item used, if it is needed regularly. You are very likely to save about 70 to 80% of its new price when you buy used items in good condition.

And if in future you don’t need what you’ve bought, you can even sell it for a profit.

Or you can sell it on for about your purchase price, which means that you’ll have used something for free!

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Success secret #4

The 30-day rule is best used for something you need

By avoiding spending on something you want, you are improving on your financial situation, by not buy stuff that’s unnecessary.

For instance, if you already have a reliable watch, and you see a new watch that you fancy at the mall or online, you must remember that this additional watch is unnecessary.

It doesn’t matter at all that this new watch is a smart watch with the latest technology that can be linked to your mobile phone.

Don’t waste your money buying this extra item. The novelty of owning it will fade very soon, and you may well regret buying it.

Success secret #5

Really convince yourself NOT to buy more

Make a list of the things you have bought.

How many of them are actually wants?

Do you still use them and take pleasure in them on a regular basis?

I guess your answer is often “no”.

Very likely, these items are languishing somewhere in your home – in the dark corners of your closet or drawer, or gathering dust and shrouded by cobwebs in your garage or basement.

Sadly, these once wanted stuff are now clearly worth only a fraction of the high prices you paid for them.

Which means you have lost money because of your impulsive purchases.

Avoid such costly mistakes by using the 30-day rule properly.

Success secret #6

When not to use the 30-day rule

Are you feeling stressed about your finances and the level of your debt?

If you are, you really need to scrap the idea of using the 30-day rule for something you want to buy. There is really no point in wasting time and effort over something you shouldn’t buy, since it is merely a want and not a need.

Success secret #7

How to help your finances and become rich

To really help your finances:

-Avoid window shopping

-Avoid the mall during sales, especially major ones like Black Friday and Boxing Day sales.

-Avoid going to online retail sites as well.

Steering clear of such temptations will really help your finances.

-Team up with allies in your fight against impulse buying.

When you work with others who share the goals of debt reduction and improving finances, you are far more likely to succeed in reaching your financial goals.


Do use the 30-day rule effectively, as explained above.

I guarantee you’ll be financially better off.

You’ll also enjoy more peace of mind, as you’ll eliminate money-related stress. See exactly how I used the 30-Day rule to buy what I needed and made great savings here.

Learn to live more with just 50 items in your home and get clever decluttering tips here.

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