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Money Management

Don’t Forget to Use the Pre-Purchase Cooldown


Take a moment to think if you truly need that item.

As we bid farewell to Halloween and welcome November, it marks the beginning of the holiday shopping frenzy. We all enjoy acquiring new things. I, for one, delight in shopping and am looking forward to sprucing up the house shortly, especially during the Black Friday sales. However, there’s a significant risk associated with window shopping, particularly when browsing online stores like Amazon. It’s easy to get caught up in the excitement of finding something you desire and impulsively clicking the “buy now” button. This urge to make instantaneous purchases can lead you to spend money on items that might not be essential or truly valuable to you, leaving you short on funds for the things you genuinely need or want.

This is why I always advocate for using the cooldown technique. Whenever I stumble upon an item that captures my interest while window shopping, I refrain from making an impulsive purchase, no matter how much I desire it in that moment. Instead, I save it in my bookmarks and give myself a couple of days to allow my initial excitement to settle down. The rush of adrenaline from spotting something appealing can cloud your judgment, so taking a step back and giving yourself time to deliberate on the necessity of the purchase is crucial.

Before hitting that buy button, consider a few key factors. Is the item something you will use frequently and derive long-term value from? Or will it lose its appeal after a short while? Is it a practical item or just a decorative piece for display? Most importantly, assess whether purchasing this item would jeopardize your ability to cover essential expenses like groceries or bills. After weighing all these factors, if you still believe the purchase is justified, then go ahead. Otherwise, it’s best to resist the impulse and refrain from making the purchase.

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