My boss is a huge proponent of the 24 Hour Rule. He has drilled into my head that there are not all that many decisions that have to be made instantly. While he was talking about workplace decisions, Lou Carlozo at the Chicago Tribune wrote about the 24 Hour Rule as it relates to spending money:
“Here’s how it works: When mulling any purchase over a certain amount, say $50, put it off for at least a day. Then ask yourself: Do I need this? Or do I want this? Can I possibly live without it for a while? Can I drop it? Can I search for a thriftier alternative?”
I love this. But I wonder. Does $50 mean $50 on one thing? With sales the way they are, I could go to Carson’s and find a $20 shirt…and then another…and then another…
Right. As if I ever found three shirts that I liked in the same day.
Anyway – good advice here.