I am sure we are all victims of impulse buying: you see something along the streets, you fall madly in love with it, buy it, a month down the line, you lose absolute interest in it and keep it aside, never to be used again.

Impulse buying is something most of us struggle with. It stands in our way of sticking to our budgets thus jeopardizing our financial freedom.

Is there a way of controlling impulse spending?

Many financial experts recommend the “30-day rule” for those struggling with impulse spending. This simply entails:

1. Whenever you feel the urge to spend, be it on new shoes, a computer gadget, or even a new car, force yourself to stop. If you are already holding the item, put it back and leave the shop.

2. When you get home, take a piece of paper and write down the name of the item, the shop where you found it, and the price. You could even include the date of when you saw the item.

3. Post the note somewhere obvious, you could even have it as a sticky note on your computer.

4. Use the next thirty days to decide on if you really want the item.

5. If the urge will still be there after thirty days, then consider purchasing it.

That is all there is to this method, and it is surprisingly effective, plus it gives you the chance to conduct research on the item you want to purchase.