The replacement rule for spending has saved me a large amount of both time and money over the years. Oddly enough, the rule is simple, but very few people do it.
What is the replacement rule? It is simply a rule stating that you only buy something when it replaces something else and you know what it will replace when you purchase the item. For instance, say you need to have seven dress shirts for work. You see one you really like in a store. You can buy it, but only if you get rid of one of the shirts you already have. If you have trouble deciding what shirt you would get rid you, you don't need another shirt.
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