Science and Tech

The 72-hour trick to save money at the end of the month

flame gas stove

The economic prospects for this winter are not good at all, so it is worth remembering some tricks to save money.

We live in a time of economic uncertainty, because of inflation Y the invasion of Ukraine. It is important to have a cushion of money in case things get worse, and not waste Compulsive shopping. The 72 hour trick It is one of the simplest that exists for save moneybut also one of the most effective, if you apply it with discipline.

When the health crisis of the covid pandemic came to an end, it seemed that we saw the light at the end of the tunnel. But then came the invasion of Ukraine, and with it inflation, the crisis in raw materials, and the rise in electricity and gas prices.

In a few weeks, in many areas of Spain it will be necessary to put the heating… Another very important additional expense. The last thing we should do is waste the money.

Tips to save money in times of inflation

Savings experts agree that the most useless and dangerous expenses are the so-called compulsive purchases.

This is the name given to purchases or expenses that occur because we get carried away by emotions. For example, you see a box of chocolates in the supermarket and suddenly you feel like eating them all, or maybe it’s a piece of clothing you’ve seen in a shop window. Or, and this is more serious, a 500 euro mobile phone or television that has a small offer in your favorite online store.

These types of purchases are also very common during sales or promotions such as the second Prime Day of the year that will take place in a couple of weeks. You see so many deals on things you like that you end up buying 4 or 5 products, not because you need them, but because they’re so cheap. The problem is that if you don’t need them, you’re not saving: you’re spending.

That is the key to emotional or compulsive shopping: that we end up buying things to satisfy the moment, not out of necessity. And then when the bill comes, we regret it.

As explained in Business Insidera very simple method to fight compulsive shoppingis to use the 24 hour trick, which is self explanatory. Consists in delay any non-essential purchase for 24 hours.

What do you want that ideal shirt because it has a 50% discount? Wait 24 hours. What do you want to change the motorcycle helmet because the current one is very ugly? Wait 24 hours. Compulsive buying deflates like a balloon over time. The next day you will surely see it in other ways, and you will not feel like buying it.

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If the hack doesn’t work for you because you still feel like spending on non-essentials the next day, then switch to the 72 Hour Hack. We are almost embarrassed to explain it, because it is obvious: before a compulsive purchase, wait three days. If after that time you still want to spend the money, then go ahead… assuming responsibility.

The 72 hour trick works great for save money versus compulsive shopping, but you have to have discipline to endure, and apply it. If you do, you will save a lot of euros on things you don’t really need. Another more sophisticated trick is the reverse list, which works very well with grocery shopping.

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