This period should be for at least a couple of days. A week will work out well for most items, as a default. If you keep the item in your mind the entire week, you'll be inclined to look online and at ads in newspapers and on television, which will give you a chance to compare prices. There is a good chance that if you do decide that you really want it, you will be able to get it at a better price that you initially found it for.
5. Purchase under retail value: In this day and age, you really should not be purchasing anything at its retail price. Set a goal to not purchase anything that is not at least 10% off its retail price, and shoot for 20% or more.
Think of it this way: Imagine the time and effort you would place into researching an investment that would give you a guaranteed, immediate tax-free return of 10% or more. It's a no-brainer, right? Since almost anything that you purchase can be found at 10% below its retail value (and sometimes much more), having the patience to wait until you find the item you want at that price will help guarantee that you don't overpay.
If you are able to adopt these spending strategies into your normal routine, you will find that you still buy everything you really want but spend a lot less. You'll likely be surprised at how often you made impulse purchases in the past.
