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Money coach who paid off $300,000 in 3 years: Following these 3 rules helps me save big

By | Aditi Shrikant |

One of the most challenging parts of sticking to a budget can be curbing spending. Saying no to dinner out with friends or putting that super fun but much-too-pricey jacket back on the rack can be harder than it sounds.

However, if you want to reach significant financial goals, sometimes spending less is necessary.

Bernadette Joy is a money coach and the founder of Crush Your Money Goals. She and her partner paid off $300,000 in debt in three years, in part by cutting their spending significantly.

To do so, she had to set a few boundaries for herself. “We cut back on the things that were nice to have, impulse buys, convenient in the moment or simply unimportant,” she says.

Here are two rules she uses to curb her spending and save big.

The $1 rule

“The $1 rule is simple,” Joy says. “If an item comes out to one dollar or less per use, I give myself the green light to buy it. The $1 rule gives yourself permission to still buy things you use frequently, while preventing impulse purchases that might seem like a good deal.”

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