Set a 24-hour cooling-off period for large nonessential purchases, and make good use of 7-day no-reason returns when shopping online

Cost

Free. What you want arrives a day later. The return shipping is usually paid by you. The hard part is holding back from ordering that day.

What you get

What you save is the share of impulse buys that you would "no longer want the next day." There is no single figure for how big that share is. For goods bought online, you can return them without giving a reason within 7 days counting from the day of receipt. There are 4 exceptions: made-to-order items, fresh and perishable goods, digital goods already opened, and newspapers and periodicals (China, in effect since 2017)

Notes

The "cooling-off period" itself is practical experience with no direct support in the literature. For what a cooling-off period doesn't stop, there is also the 7-day no-reason return rule. Before returning, first confirm two things: whether the item is on the list of things that can't be returned, and whether the packaging is still intact.

Evidence grade

C : The author's experience or common practice, without direct literature.

Sources

1. 国家市场监督管理总局 (2020 修订). 网络购买商品七日无理由退货暂行办法（总局令第 31 号）. https://www.gov.cn/zhengce/zhengceku/2020-11/03/content_5557118.htm

Translated from the Chinese original. Original book, section 5, tip 23. This section is about money and spending. It is general information, not financial or investment advice. Content may be out of date and rules differ by place. When you actually deal with an agency, a doctor or a court, follow what local officials, doctors and lawyers tell you. Disclaimer