One of our mentors once told us when looking to make a large purchase, always wait 90 days before acting. I found this interesting and thought about it a bit more… I have often found that bad financial decisions come when we are in a heightened emotional state. When emotion goes up, intelligence goes down! How can you make a sound financial decision in this state of mind? The answer is you can’t! That’s why it’s so important to wait 90 days.
I recently had the opportunity to put this concept to the test when I had my eye on a large ticket item. It was something I could afford, so I quickly rationalized why I needed it now! I was giddy with excitement (warning sign) and told my husband about it. I had him excited too (double warning sign)! He then reminded me of the 90 day rule our mentor taught us. I further rationalized it by telling my husband I had already been thinking about it for about a month before I told him, so I was a third of the way there! I did, however, agree to wait. It turned out, there was additional information that made this big ticket item less attractive. I have since shelved the idea for now and have saved myself from a bad financial decision.
A couple of things happened in this situation. I gave my emotions time to calm down so I could look at all the information clearly. Also, once I gave myself time for the excitement to wear off it began to not feel as important. When you avoid a purchase made in a high emotional state you can also avoid buyers remorse.
Financial freedom is won from financial decision to financial decision. Large or small, they all add up! Waiting 90 days can help you avoid a bad financial decision here and there and ultimately move you closer to your goals and dreams!
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