Ever agonized over buying a $40 sweater? A new, trending spending rule claims to be the key to helping you determine whether or not you should make that purchase. According to the 0.01% rule, if a purchase costs less than 0.01% of your total net worth, it’s considered a minor expense and can be made guilt-free. Based on this guideline, a person with a $500,000 net worth would be able to make any purchase under $50 without having to think twice.
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