{"id":441,"date":"2025-05-10T08:00:00","date_gmt":"2025-05-10T08:00:00","guid":{"rendered":"https:\/\/alaskanativeowned.com\/?p=441"},"modified":"2025-05-16T16:07:17","modified_gmt":"2025-05-16T16:07:17","slug":"this-simple-1-rule-could-help-you-cut-spending-and-save-hundreds-of-pounds","status":"publish","type":"post","link":"https:\/\/alaskanativeowned.com\/index.php\/2025\/05\/10\/this-simple-1-rule-could-help-you-cut-spending-and-save-hundreds-of-pounds\/","title":{"rendered":"This simple 1% rule could help you cut spending and save hundreds of pounds"},"content":{"rendered":"<figure class=\"img-container shareable-item wp-caption\">\n<div class=\"img-wrap\">\n\t\t<img width=\"646\" height=\"355\" src=\"https:\/\/alaskanativeowned.com\/wp-content\/uploads\/2025\/05\/GettyImages-871072216.jpg\" class=\"article-image wp-image-23017140\" alt=\"Woman using credit card with shopping online concept at cafe.\" loading=\"lazy\" \/>\t<\/div><figcaption>The hack encourages shoppers to be &#8216;intentional&#8217; with their money (Picture: Getty Images)<\/figcaption><\/figure>\n<div class=\"metro-article-audio-player\" data-vars-type=\"article-audio-player\">\n<div class=\"metro-article-audio-player-play-row\">\n\t\t\t\t<button class=\"metro-article-audio-player-play-button\"><br \/>\n\t\t\t\t\t<title>Listen to article<\/title>\t\t\t\t\t<span>Listen to article<\/span><br \/>\n\t\t\t\t<\/button><\/p>\n<div class=\"img-container\"><img class=\"sponsor-image\" src=\"https:\/\/metro.co.uk\/wp-content\/themes\/metro\/includes\/site-blocks\/article-audio\/assets\/powered-by.png\" alt=\"Powered by\" data-rewritten=\"false\" \/><\/div>\n<\/p><\/div>\n<div class=\"audio-controls hidden\">\n\t\t\t\t<audio class=\"audio-element\" src=\"https:\/\/metro.co.uk\/wp-content\/uploads\/2025\/05\/ElevenLabs_2025-05-09T11_12_56_Axell-British-YouTube-Personality-_pvc_sp100_s50_sb75_se30_b_m2-8249.mp3\" controls id=\"audio-682761b883e37\">\t\t\t<\/p>\n<p>\t\t\t\t\tYour browser does not support the audio element.<br \/>\n\t\t\t\t<\/audio>\n\t\t\t<\/div>\n<\/p><\/div>\n<p>Your friends are planning a weekend away and before you know it, you&#8217;ve chipped in for the deposit. You work hard, it sounds fun, you deserve it. <\/p>\n<p>Then your monthly <a href=\"https:\/\/metro.co.uk\/2025\/03\/31\/save-household-bills-prices-sky-rocket-less-24-hours-22810848\/\" target=\"_blank\" rel=\"noreferrer noopener\">bills start rolling in<\/a> and you wonder if a spontaneous holiday was such a good idea after all.<\/p>\n<p>We\u2019ve been there. But if you find yourself committing to expensive trips or buying high-end items too frequently, one simple <a href=\"https:\/\/metro.co.uk\/2024\/05\/17\/use-tips-turn-1-a-day-a-165-000-savings-pot-20861900\/\" target=\"_blank\" rel=\"noreferrer noopener\">budgeting hack<\/a> could help you keep impulse spending under control.&nbsp;<\/p>\n<p>The trick, known as the 1% rule, is designed for those who often find themselves <a href=\"https:\/\/metro.co.uk\/2017\/11\/30\/impulsive-spending-can-be-a-big-part-of-bipolar-disorder-heres-how-to-control-it-7116455\/\" target=\"_blank\" rel=\"noreferrer noopener\">splurging on non-essentials<\/a>.&nbsp;<\/p>\n<p>If you\u2019re thinking about treating yourself to a non-essential item &#8211; like a VIP concert ticket, a quick <a href=\"https:\/\/metro.co.uk\/2025\/04\/27\/outskirts-palma-found-secret-perfect-city-break-21556056\/\">city break <\/a>or a designer handbag &#8211; and it costs more than 1% of your annual income, take a beat.<\/p>\n<p>Give yourself 24 hours before entering your last three digits to whatever shopping website you find yourself on.&nbsp;<\/p>\n<div class=\"factbox\" data-ico=\"factbox_article\" data-track-module=\"factbox_article\">\n<h2 class=\"factbox-title\">\n\t\t\t\tHow to scale back on impulse spending?\t\t\t<\/h2>\n<div class=\"factbox-content\">\n<p>Impulse spending is buying something on a whim, without considering the long-term impact on your finances. While extreme cases might require stricter budgeting or professional help, there are some simple strategies to help scale it back. <\/p>\n<p>Another money-saving hack \u2018<a href=\"https:\/\/metro.co.uk\/2023\/04\/20\/wage-weighting-is-the-money-saving-trick-to-curb-impulse-spending-18638209\/\">wage-weighting<\/a>\u2019 &#8211; which is when you think of items in terms of your hourly or daily wage.&nbsp;<\/p>\n<p>If it equates to half a day at work &#8211; or maybe even if days &#8211; is it still worth it? Thinking about how long you\u2019d have to work to afford an item could be the hack to unnecessary spending.<\/p>\n<p>Alice Tapper, financial expert at Go Fund Yourself, previously told <strong>Metro<\/strong>: \u2018The challenge we face is that it\u2019s very difficult to conceptualise the real value of money.<\/p>\n<p>\u2018When you consider the time you need to work to afford an item, it becomes a bit easier.\u2019<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>This cooling off period allows time to re-think the purchase. If you\u2019re desperate to buy it, there\u2019s no harm in taking an extra day to think about it.<\/p>\n<p>The rule was popularised by Glen James, host of the Australian finance podcast, My Millenial Money, and has since been shared widely by finance gurus on social media.&nbsp;<\/p>\n<p>TikTok finance expert <a href=\"https:\/\/www.tiktok.com\/@frugal_spender\/video\/7217863743328374022\" target=\"_blank\" rel=\"noreferrer noopener\">@frugal_spender<\/a> recommends the trick to those earning less than \u00a3100,000 per year &#8211; especially those who earn just below or above the national average of \u00a336,000.<\/p>\n<p>He says the tip \u2018doesn\u2019t work for people on very low incomes and it doesn\u2019t work for people on very high incomes\u2019.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-tiktok wp-block-embed-tiktok\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"tiktok-embed\" cite=\"https:\/\/www.tiktok.com\/@frugal_spender\/video\/7217863743328374022\" data-video-id=\"7217863743328374022\" data-embed-from=\"oembed\" style=\"max-width:605px;min-width:325px\">\n<section> <a target=\"_blank\" title=\"@frugal_spender\" href=\"https:\/\/www.tiktok.com\/@frugal_spender?refer=embed\" rel=\"noopener\">@frugal_spender<\/a> <\/p>\n<p>Stop impulse purchases with the 1% rule.  <a title=\"1percentrule\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/1percentrule?refer=embed\" rel=\"noopener\">#1percentrule<\/a> <a title=\"ukpersonalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/ukpersonalfinance?refer=embed\" rel=\"noopener\">#ukpersonalfinance<\/a> <a title=\"moneyhacks\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/moneyhacks?refer=embed\" rel=\"noopener\">#moneyhacks<\/a> <a title=\"moneytips\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/moneytips?refer=embed\" rel=\"noopener\">#moneytips<\/a> <a title=\"personalfinance\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/personalfinance?refer=embed\" rel=\"noopener\">#personalfinance<\/a> <a title=\"moneyfyp\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/tag\/moneyfyp?refer=embed\" rel=\"noopener\">#moneyfyp<\/a><\/p>\n<p> <a target=\"_blank\" title=\"\u266c original sound - Frugal Spender\" href=\"https:\/\/www.tiktok.com\/music\/original-sound-7217863746939996934?refer=embed\" rel=\"noopener\">\u266c original sound &#8211; Frugal Spender<\/a> <\/section>\n<\/blockquote>\n<\/div>\n<\/figure>\n<p>He explains: \u2018So let\u2019s say you\u2019re on an average salary of \u00a330,000 per year, 1% of that is \u00a3300. If you are considering making a purchase over \u00a3300, then you need to sleep on it.<\/p>\n<p>\u2018You need to give yourself a whole day, 24 hours, to figure out whether that decision is the right one to make.&nbsp;<\/p>\n<p>\u2018Now this doesn\u2019t mean you can\u2019t splurge your money, it just means you\u2019re being intentional with what you\u2019re spending.&nbsp;&#8216;&nbsp;<\/p>\n<p>Finance guru <a href=\"https:\/\/www.tiktok.com\/@christosfellas\/video\/7244625634192903450?q=1%25%20rule%20impulse%20spendin&amp;t=1746189504946\">@christosfellas <\/a>also explained the rules to his followers, saying: \u2018When you wake up in the morning you can weigh up the pros and cons of how that thing can actually bring you value.<\/p>\n<p>\u2018Doing this will likely stop you from making those bad impulse buys and the things that you do go ahead and buy will end up bringing you lots of value.&#8217;<\/p>\n<section class=\"metro-comment-cta\">\n<div class=\"metro-comment-cta__inner\"><span class=\"metro-comment-cta__text-wrap\"><title>Comment now<\/title><span class=\"metro-comment-cta__text\">Have you tried the 1% rule and has it helped your budgeting?<\/span><\/span><a class=\"metro-comment-cta__button\" href=\"#metro-comments-container\">Comment Now<\/a><\/div>\n<\/section>\n<p>Matthew Sheeran, money expert at Money Wellness, tells <strong>Metro <\/strong>the 1% rule is a \u2018simple and clever trick to stop those \u201cshould I, shouldn\u2019t I\u201d moments when you\u2019re about to splurge\u2019.<\/p>\n<p>He says: \u2018It\u2019s especially handy for those bigger non-essential spends, like new tech, furniture, or a weekend away.&nbsp;<\/p>\n<p>\u2018Giving yourself 24 hours can be just enough time to dodge an impulse buy and figure out what you really want, or if it was just a \u201cscrolling temptation\u201d moment.\u2019<\/p>\n<p>However, the trick isn\u2019t a sure-fire way to stop overspending. <\/p>\n<p>\u2018It\u2019s not a magic fix for managing money or getting out of debt,&#8217; Matthew adds. &#8216;It\u2019s a great starting point, but for bigger money worries, you might need a more detailed plan.\u2019<\/p>\n<p class=\"\"><strong>Do you have a story to share?<\/strong><\/p>\n<p class=\"\"><strong>Get in touch by emailing <a href=\"mailto:MetroLifestyleTeam@Metro.co.uk\">MetroLifestyleTeam@Metro.co.uk<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The hack encourages shoppers to be &#8216;intentional&#8217; with their money (Picture: Getty Images) Listen to article Listen to article Your browser does not support the audio element. Your friends are planning a weekend away and before you know it, you&#8217;ve chipped in for the deposit. You work hard, it sounds fun, you deserve it. Then [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/441"}],"collection":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/comments?post=441"}],"version-history":[{"count":2,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/441\/revisions"}],"predecessor-version":[{"id":444,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/posts\/441\/revisions\/444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media\/443"}],"wp:attachment":[{"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/media?parent=441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/categories?post=441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alaskanativeowned.com\/index.php\/wp-json\/wp\/v2\/tags?post=441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}