The "One In, One Out" Rule Will Help You Curb Your Spending

When you’re scrolling online, adding things to cart, and waiting for boxes to arrive at your door, you probably aren’t thinking about where all these new items will go. It isn’t until you try to cram another sweater into an already-packed closet or jam another lip gloss into an overstuffed drawer that you may start to realize something needs to change.

To prevent clutter from piling up, it’s often as easy as following the “One In, One Out” rule. While this method has been around for ages, TikTok creators are embracing it again, like @simplylivinwithliz, who said, “Your home isn’t a storage unit for your impulses. Try a one in, one out rule. For every new item you bring in, something old has to go.”

The “One In, One Out” rule is a go-to method for preventing clutter, but when you think about it, it’s a pretty genius way to prevent overspending, too. Creator @kaceyondimu posted about the “One In, One Out” rule with a caption saying, “Maturing is realizing the 1 in, 1 out rule with clothes is the best method. Saving space and no longer being materialistic is the goal.”

Here, a financial expert talks about how this rule applies to your wallet, and all the ways it can help you save some serious cash.

The One In, One Out Rule Helps You Save

According to Bobbi Rebell, CFP, a certified financial planner and personal finance expert at CardRates, the One In, One Out rule is all about being more intentional with your spending. It isn’t just about preventing the build-up of clutter, but also about remembering what you already have — and maybe even recognizing you don’t need half the things you want.

“If you first look at what you would get rid of before you buy a new item, many times you will realize you already have something just as good,” she tells Bustle. As you dig through your drawers for something to part with, you might rediscover a skirt that looks a lot like the one in your shopping cart. Just like that, you pocket $50 instead of spending it.

Applying the One In, One Out method can also buy you time to check in with yourself — something that’s so helpful in the heat of the moment. Instead of clicking “purchase” because something’s going viral and about to sell out, this method encourages you to pause and take a breath. As you consider what you’re going to donate, the urge might even pass.

According to Rebell, this pause is like a “speed bump” because it slows you down and provides a much-needed moment of clarity. As you physically sift through potential items to part with, you’ll also start to appreciate the sheer volume of what you already have, and that will create some awareness around where your money is going.

The One In, One Out Rule In Action

Let’s say you’re eyeing a new coat for fall, even though you already have quite a few options at home. “Before getting a new one, go through your closet and your storage areas and assess what kinds of coats you already have,” Rebell says.

Do you actually want to part with any of them? Did you rediscover something cute that you totally forgot about? Or are you overwhelmed by how much you have and now completely turned off by the idea of getting more? If you said yes to any of the above, you just saved yourself $150.

If you do want to buy the new coat, that’s OK, too. With this method, there’s still a chance to make some cash. Once you find something you’re willing to part with, you can put it up for sale online. That way, you’re bringing more money in while also keeping clutter out.

Source:

Bobbi Rebell, CFP, certified financial planner, personal finance expert at CardRates