Latest news with #GlenJames
Metro
10-05-2025
- Business
- Metro
This simple 1% rule could help you cut spending and save hundreds of pounds
Your friends are planning a weekend away and before you know it, you've chipped in for the deposit. You work hard, it sounds fun, you deserve it. Then your monthly bills start rolling in and you wonder if a spontaneous holiday was such a good idea after all. We've been there. But if you find yourself committing to expensive trips or buying high-end items too frequently, one simple budgeting hack could help you keep impulse spending under control. The trick, known as the 1% rule, is designed for those who often find themselves splurging on non-essentials. If you're thinking about treating yourself to a non-essential item – like a VIP concert ticket, a quick city break or a designer handbag – and it costs more than 1% of your annual income, take a beat. Give yourself 24 hours before entering your last three digits to whatever shopping website you find yourself on. 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. Another money-saving hack 'wage-weighting' – which is when you think of items in terms of your hourly or daily wage. If it equates to half a day at work – or maybe even if days – is it still worth it? Thinking about how long you'd have to work to afford an item could be the hack to unnecessary spending. Alice Tapper, financial expert at Go Fund Yourself, previously told Metro: 'The challenge we face is that it's very difficult to conceptualise the real value of money. 'When you consider the time you need to work to afford an item, it becomes a bit easier.' This cooling off period allows time to re-think the purchase. If you're desperate to buy it, there's no harm in taking an extra day to think about it. 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. TikTok finance expert @frugal_spender recommends the trick to those earning less than £100,000 per year – especially those who earn just below or above the national average of £36,000. He says the tip 'doesn't work for people on very low incomes and it doesn't work for people on very high incomes'. He explains: 'So let's say you're on an average salary of £30,000 per year, 1% of that is £300. If you are considering making a purchase over £300, then you need to sleep on it. 'You need to give yourself a whole day, 24 hours, to figure out whether that decision is the right one to make. 'Now this doesn't mean you can't splurge your money, it just means you're being intentional with what you're spending. ' Finance guru @christosfellas also explained the rules to his followers, saying: 'When you wake up in the morning you can weigh up the pros and cons of how that thing can actually bring you value. 'Doing 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.' Matthew Sheeran, money expert at Money Wellness, tells Metro the 1% rule is a 'simple and clever trick to stop those 'should I, shouldn't I' moments when you're about to splurge'. More Trending He says: 'It's especially handy for those bigger non-essential spends, like new tech, furniture, or a weekend away. 'Giving 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 'scrolling temptation' moment.' However, the trick isn't a sure-fire way to stop overspending. View More » 'It's not a magic fix for managing money or getting out of debt,' Matthew adds. 'It's a great starting point, but for bigger money worries, you might need a more detailed plan.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: You can save £600 on family holidays by avoiding this flight booking mistake MORE: Map reveals how much you need to earn in each UK region to be considered wealthy MORE: Martin Lewis urges Brits to claim 50% savings boost with 'unbeatable' Government scheme
Yahoo
09-04-2025
- Yahoo
People urged to call police immediately if they see this wanted man
An urgent appeal has been issued to find a wanted man in Greater Manchester. People are being urged to call police as soon as possible if they see Glen James. The 42-year-old, of no fixed address, is wanted on recall to prison, according to Greater Manchester Police. READ MORE: 'I ordered a McDonald's at 2am, then I heard screaming' READ MORE: Morrisons confirms closure of 17 stores - full list and dates The force says he is known to have links to Manchester, Salford and Trafford. A photo of James has been issued alongside an appeal for help finding him this morning (April 9). Anyone who sees James or has information on his whereabouts is asked to call police on 0161 856 5889. Alternatively, contact the independent charity Crimestoppers on 0800 555 111. --- Day in day out, our reporters in the Manchester Evening News newsroom bring you remarkable stories from all aspects of Mancunian life. However, with the pace of life these days, the frenetic news agenda and social media algorithms, you might not be getting a chance to read it. That's why every week our Features and Perspectives editor Rob Williams brings you Unmissable, highlighting the best of what we do - bringing it to you directly from us. Make sure you don't miss out, and see what else we have to offer, by clicking here and signing up for MEN Daily News. And be sure to join our politics writer Jo Timan every Sunday for his essential commentary on what matters most to you in Greater Manchester each week in our newsletter Due North. You can also sign up for that here. You can also get all your favourite content from the Manchester Evening News on WhatsApp. Click here to see everything we offer, including everything from breaking news to Coronation Street. If you prefer reading our stories on your phone, consider downloading the Manchester Evening News app here, and our news desk will make sure every time an essential story breaks, you'll be the first to hear about it. And finally, if there is a story you think our journalists should be looking into, we want to hear from you. Email us on newsdesk@ or give us a ring on 0161 211 2920.
