Every time my son comes home from a friend’s house, he has to have a new toy he has just seen. He is bursting to go to the toy store immediately and buy the new shiny toy.
There is no reasoning with him. No explaining to him that it will take him months to save that money again.
During one occasion his nagging to go to the toy store wouldn’t stop. So in a moment of desperation I blurted out “let’s wait until tomorrow and talk about it then” and amazingly he agreed.
The next day we emptied his piggy bank and asked him if he still wanted to buy a new toy with all his money. He looked at his savings spread out on his bed and hesitantly said no.
In that moment he figured out that he needs to be more selective with the limited cash that he has. This new ‘cooling off period’ has become a life saver. I don’t need to try to talk him out of impulsive buys that will sit in his closet unused. And best of all he has gained a great understanding of saving money.
Waiting 24 hours doesn’t only work for seven year olds. Next time you are going to make an impulsive buy, wait until the next day. My guess is the itch to buy will pass and then you can figure out what will make you truly happy.