This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Mulling purchases increases your wealth
This is how it works for a lot of us. We see something, we buy it (or frequently charge/finance it) without considering the repercussions of this repetitive and insidious habit.
Consistent impulse purchases can significantly harm you if the purchases lead you to live/spend above your means.
3 Strategies To Delay The Purchase
Before you buy something, get rid of something. Make it a requirement to give away two items for every purchase; this way, you avoid hoarding and force yourself the opportunity to consider if the purchase is worth giving away two things.
Don’t make the purchase without thinking about it for 2–14 days. The more time you invest in thinking about the purchase, the more likely you will forget about the purchase altogether. There have been countless times I really wanted to buy something and instead took a moment to think for one to two weeks. What was the result? I forgot about it. Or when I remembered, I no longer felt the need or desire to buy it. Taking time to mull your purchases can significantly alter your purchase plans.
If you can’t pay cash, wait until you can. Buying something through financing, loans, and credit cards is easy. What’s a bit more challenging is making all your purchases with cash (or using a credit card and paying it right back).
I’ve now become so skilled at delaying purchases that I rarely buy anything outside of food and experiences, and even these things I consider carefully before making the purchase.
The less you spend, the more you keep.
The more cognizant and respectful you are about your resources, the more you will have.
So many people don’t have many resources because they get wrapped up in repetitive impulse purchases.
Look Around You
Consider for a second all the things you have recently bought.
What is the true value of these things? Are many of these items things you would purchase again?
If you don’t use something, sell it or return it.
Before buying something, ask yourself whether you need it AND want it?
Finally, ask yourself what the item’s true value is and what can it offer that you don’t have now.
If you can delay 50% or more of your purchases, you will save significantly more money and decrease your spending at a higher-than-average rate.
Think about it: If 73% of our purchases are impulse buys, and we start delaying purchases, we’re putting that money back in our bank accounts and pockets.
73% Of Purchases Are Impulse Buys
Impulse buys will destroy you financiallymedium.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.