Use The 30/30 Rule To Save Money And Spend Smarter

Whether you’re living on a shoestring budget or simply trying to spend responsibly, you can never have too many money-saving tricks up your sleeve. In this post, we’ll explore the “30/30 rule,” a simple rule for spending that can help you avoid impulsive purchases you might eventually regret.

Jillee’s Take:

This spending rule is less about *what* you buy and more about *when* you buy things. Simply waiting to decide whether to buy something can help you make a more mindful and responsible choice.

What Is The 30/30 Rule?

The rule is simple: when considering a purchase over $30, wait at least 30 hours before deciding. Much like putting something in your virtual shopping cart and leaving it there for a while, the 30/30 rule gives you time to consider whether the thing you want to buy is worth the money.

After 30 hours, you may not feel as strongly about the item as you did before, in which case you’ll have saved money (and potentially some buyer’s remorse!) And if you still want the item after 30 hours, you can then purchase it with a degree of confidence.

You can tweak the 30/30 rule to work for more costly purchases, too. For items over $100, challenge yourself to wait 30 days instead of 30 hours. You’ll either lose interest in the item before the wait is over, or you’ll be able to purchase that big-ticket item confidently and responsibly.

If your finances could use some cleanup after the holidays, the 30/30 rule is a simple tip that can go a long way!

What’s your best tip for spending money wisely?