The dollar rule: How to justify any purchase without the guilt

Here's why the $1-per-use rule works better than a budget.

Transcript

00:00So the dollar rule, actually I'll use this jacket as an example, so I found this jacket on sale,

00:04it was I think $30 and marked down, so I'm like, I love all these like clearance sales,

00:10but the dollar rule simply says that if you buy something, it's usually clothing,

00:14like household items, tech items, furniture, stuff like that. If you try to make it a dollar per use,

00:21then I say green light, go ahead and buy it, don't overthink it. So for example,

00:27this jacket was $30, like is it possible for me that I will wear it 30 times? And even if I don't

00:32actually wear it the full 30 times, the whole point is like, am I going to get enough use out

00:35of it that I should actually go buy it? What happened with the dollar rule is that a lot of

00:39other personal finance folks were like shaming you and like slapping you in the wrist and saying

00:42don't buy these things. The intent of the dollar rule is actually to give you permission to buy

00:46things as long as you use them well.