You can save a lot of money by “sleeping on it.” No, not by actually sleeping on your money. What we mean here is that you should sleep on any major spending or purchasing decisions you are considering. The world always looks different after a restful night of sleep. Sometimes we think we “need” something but once a little bit of time passes, we find out that we don’t really “need” the item. Heck, sometimes we find we don’t even want it!
Advertising is a powerful medium designed to create perceived needs in potential buyers. The medium works best when the purchasing decision is encouraged to be made as near as possible to the delivery of the advertising message. This is why we see “Calls To Action” accompanying most ads. How many times have you heard these:
Available for a limited time only.
This offer is only available to the first hundred callers.
One Day Sale!
Here’s a little secret. Anyone who uses those calls to action uses them day and night, week after week and month after month. Quantities are not limited. The one day sale will also be a one day sale tomorrow and they are not tracking the number of callers based on the time the commercial aired. All of the calls to action are designed to pressure you to make a purchasing decision when your feeling of need is greatest.
The advertisers know that once you step back from their message, your feeling of “need” will be far less acute.
Even if your spending decision is not advertising-related, you may be still be trying to fill a need that you do not really have. You may be feeling lonely, tired, hungry, angry or any number of emotions. Your subconscious may be pressuring you to buy something to make you feel better. The passage of time resolves most emotional needs, making your purchases and spending less important.
Some of you may not buy into this need-based theory. That’s OK. You don’t need to buy into the theory to put the “sleep on it” tip into practice. Instead of thinking in terms of need, think in terms of substitution. In other words, what else could I use this money for? Is it more important for me to work towards eliminating my debt or paying for my kids’ tuition? Or is this purchase more important? A night of sleep is sure to crystallize the importance of one over the other.
Give it a try. Your bank account will thank you for it.
