When you're Young & Free it's easy to get caught up in a moment. Sometimes getting caught up in that moment will lead to impulse spending. Maybe you're eyeing a new purse, a pair of shoes, or a newly released DVD.
You may even tell yourself, "I need it."
But do you really need that new watch or that pricey flatscreen television?
The $50 Rule
Instead of making an impulse purchase, use the $50 Rule. The rule is simple -- take the price of your 'must-have' item, and divide it by $50. The resulting number is the number of days you should consider the purchase before making it.
So whether you're eyeing a beautiful new jacket, or want a surround sound system, use the $50 Rule to wait a few days to make sure it's an investment worth making. Use the time to research online and compare prices and similar items.
Hope this tip on impulse spending helps!