💨 Abstract

People often commit to expensive trips or purchases impulsively and regret it later. One budgeting tool to prevent this is the '1% rule.' If something non-essential costs 1% of your annual income, e.g. £300 for someone earning £30,000, wait 24 hours before buying. Additionally, 'wage-weighting' helps by considering how many hours of work an item is worth.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖