{"id":534,"date":"2025-05-10T08:00:00","date_gmt":"2025-05-10T08:00:00","guid":{"rendered":"https:\/\/originalholdum.com\/?p=534"},"modified":"2025-05-16T15:43:52","modified_gmt":"2025-05-16T15:43:52","slug":"this-simple-1-rule-could-help-you-cut-spending-and-save-hundreds-of-pounds","status":"publish","type":"post","link":"https:\/\/originalholdum.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 decoding=\"async\" width=\"646\" height=\"355\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"article-image wp-image-23017140 lazyload\" alt=\"Woman using credit card with shopping online concept at cafe.\" loading=\"lazy\" data-src=\"https:\/\/originalholdum.com\/wp-content\/uploads\/2025\/05\/GettyImages-871072216.jpg\">\t<\/div><figcaption>The hack encourages shoppers to be \u2018intentional\u2019 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 decoding=\"async\" class=\"sponsor-image lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"Powered by\" data-rewritten=\"false\" data-src=\"https:\/\/metro.co.uk\/wp-content\/themes\/metro\/includes\/site-blocks\/article-audio\/assets\/powered-by.png\"><\/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-68275c1e11efc\">\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\u2019ve 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.\u00a0<\/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>.\u00a0<\/p>\n<p>If you\u2019re thinking about treating yourself to a non-essential item \u2013 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 \u2013 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.\u00a0<\/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 \u2013 which is when you think of items in terms of your hourly or daily wage.\u00a0<\/p>\n<p>If it equates to half a day at work \u2013 or maybe even if days \u2013 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.\u00a0<\/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 \u2013 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 \u2013 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.\u00a0<\/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.\u00a0\u2018\u00a0<\/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.\u2019<\/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.\u00a0<\/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,\u2019 Matthew adds. \u2018It\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 \u2018intentional\u2019 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\u2019ve chipped in for the deposit. You work hard, it sounds fun, you deserve it. Then [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[],"_links":{"self":[{"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/posts\/534"}],"collection":[{"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/comments?post=534"}],"version-history":[{"count":2,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/posts\/534\/revisions"}],"predecessor-version":[{"id":537,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/posts\/534\/revisions\/537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/media\/536"}],"wp:attachment":[{"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/media?parent=534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/categories?post=534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/originalholdum.com\/index.php\/wp-json\/wp\/v2\/tags?post=534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}