This 24-Hour Rule Stops Impulse Spending Before It Starts
How often do you make impulse purchases? With the rise of online retailers, it’s easy to enter your card information and hit pay.
According to Capital One Shopping research, 89% of buyers have a history of impulse buying.
Lazy Summer: Lazy-but-Healthy and Cheap Costco Groceries You're Going To Love
Sit Back: 8 Low-Effort Ways to Make Passive Income (You Can Start This Week)
These purchases can quickly add up. In 2024, the average consumer made just under 10 impulse buys each month. At an average cost of $28.90 each, this means the average consumer spends nearly $300 on impulse buys each month.
One way to combat impulse spending is to implement the 24-hour rule. Here's how it can help you eliminate unnecessary spending before it starts.
What Is the 24-Hour Rule?
The 24-hour rule requires you to wait a full day before making a nonessential purchase. Let’s say you saw an ad for a new sweatshirt and want to buy it. The rule requires you to wait a full day before buying the item, giving you time to reflect on whether the purchase is necessary. This might look like adding the item to your Amazon cart but leaving it there until the 24-hour period has passed. Once 24 hours have passed, you can reevaluate your wants.
How Does the 24-Hour Rule Change Things?
Impulse spending can be thrilling, releasing dopamine as an instant reward. At the same time, rushing to make a purchase is often driven by fear of missing out. You want to buy the item quickly before it sells out.
The 24-hour rule shifts your purchases from emotional, dopamine-driven ones to intentional, logical ones. Often, after 24 hours, you no longer want to buy the item. However, if the item is still something you want and can afford, you can make the purchase without buyer’s remorse.
How To Implement the 24-Hour Rule
Implementing the 24-hour rule requires self-control and discipline. It’s easy to justify a “want” as a “necessity.” The first step in following the 24-hour rule is to close the shopping tab or leave the store when you feel the urge to make an impulse purchase. Walking away is often the hardest step.
It can also help to delete saved card information from your shopping apps or the website. Being forced to enter your card details manually can be a strong deterrent. Apps like Amazon allow you to purchase items with one click, making it tempting to place an order quickly without fully considering the purchase or the cost.
The next day, reevaluate the item. Is it something you truly need? Is there a place you can find it cheaper? Will you use the item more than once? For example, if you’re going to a sporting event and want to buy a jersey, but you typically don’t go to games, would spending $150 on a jersey be worth it? Probably not, since the item won’t get used very often. Instead, look for a used item or something you already have on hand. Overall, the 24-hour rule can be a great strategy to stop impulse spending before it starts.
Summer spending adds up fast. Enter MoneyLion's Summer Break Giveaway for a chance to win $500 — and give your budget a break. (No pur. nec. Ends 7/4/26. See official rules at mlion.info/summerbreakofficialrules)
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion: