The $1 Rule Can Help You Take Control of Your Finances

Buyers remorse affects nearly all of us. Sometimes deciding between a “need” and a “want” isn’t always back and white. Bernadette Joy, the founder of Crush Your Money Goals, has a solution for this: The $1 rule.

 The $1 rule is, “basically the idea that the cost per use of all non-essential purchases should be equivalent to $1 or less.”

  • For example, if a pair of shoes cost you $150, but you know you’ll wear them 150 times before you’re done with them, then buy them! If you’ll only wear them a few times? Reconsider.
  • The rule is best applied to purchases that are in the “non-essential, non-special occasion, and simply nice to have” category: home goods, seasonal clothing. In other words, don’t even try to apply this rule to a wedding dress or you’ll never be able to buy one.


Here are ways the $1 rule can be helpful for your finances:

  • “It helps you determine the worth of an item before you decide to buy it.”
  • “It also helps you expect and prioritize quality from the items you do buy…and determine when something’s just not worth it.”

Source: Pure Wow

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