Ways I Save Money: The 90-Day Rule

Yesterday, I discussed how I use the 90-Day Rule. It really isn’t a rule that I know of, it’s just something I do to try to keep our spending down and save money.

Basically, if it’s something that I would like to get but it isn’t something that we absolutely need, I wait about three months. After that time, if I still want it and think it could be useful I will buy it.

The wait may seem like a long time and it can be in the retail world. A few things can happen to that item in the meantime…

1.) The item goes on clearance, and you end up saving money on the purchase (a super-bonus!).

2.) The item is no longer available (I usually shrug and say it wasn’t meant to be).

3.) The item is there and still at the regular price.

4.) You no longer want the item.

EDIT: 5.) You completely forget about the item (thanks Jen :))

You don’t really save money with #3, but at least hopefully using the time to make sure you want it will result in a good purchase.

There was a time that I really wanted one of those rubber squeegee mop/broom combinations that I saw on TV, and was later available at a local department store. I thought that thing was so neat and I almost bought it when I saw it in the store, but I didn’t. A few weeks later, it didn’t seem as neat anymore and I ended up saving on that purchase. Once the “neatness” factor wears off you often view things differently.

I believe there are similar rules out there that have a 30-day waiting period, but for us, 90 days gives a little more time and has been working well to reduce our purchases.

Posted by Tricia on October 17, 2006 at 1:21 PM in Saving Money, Ways I Save Money |
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  1. Matt responded:
    Posted: October 17th, 2006 at 6:33 pm

    I think anyone about to buy a tech gizmo should use your 90-day rule, might save a lot of useless cluter items from being purchased.

  2. Tricia responded:
    Posted: October 17th, 2006 at 11:11 pm

    With high tech gizmos, a better version may come out in 90 days too! ;)

  3. Jen responded:
    Posted: October 18th, 2006 at 10:06 am

    For me, I’d have to add a 5th possible outcome: I completely forget about the item ;)

  4. Carnival of Personal Finance #71 - Fat Pitch Financials responded:
    Posted: October 23rd, 2006 at 3:34 pm

    [...] Ways I Save Money: The 90-Day Ruleat Blogging Away Debt Some tips to curb impulse spending. [...]

  5. Send Money Online » Carnival of Personal Finance #71 responded:
    Posted: November 6th, 2006 at 12:10 pm

    [...] Ways I Save Money: The 90-Day Ruleat Blogging Away Debt Some tips to curb impulse spending. [...]

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