The speaker shares a personal experience where his daughter wanted to buy something impulsively, but he suggested waiting a day before making the purchase. By enforcing a rule that any purchase over $30 should be considered for 30 hours before buying, they allow time to evaluate the necessity of the purchase and avoid impulsive decisions.
The Minimalists talk about avoiding lifestyle inflation. Listen to all three hours of episode 365 on The Minimalists Private Podcast.
Discussed in this episode:
How do I better manage my impulses and my budget as my income increases? (01:46)
What is “lifestyle inflation”? (02:29)
What is the “casino technique”? (12:04)
How will refunding dissatisfied customers and allowing them to keep items affect consumerism? (19:36)
How do we determine what luxuries to let go of when we can comfortably afford them? (24:38)
What is the “scorched earth approach”? (24:56)
Detailed show notes: minimalists.com/podcast
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