Like most complicated things, it makes it easier to grasp a concept if we can shorten the explanation to just a few sentences or one rule of thumb. Nowhere is this more important and put to good use than in the financial world. Here are some of the best tried and true financial rules of thumb that I know. Like all general explanations there are always caveats and one-offs, but if you follow these rules of thumb to some extent you will go along way to keeping your financial world on solid ground and going down the right path. We’ll go over each rule of thumb, discuss what makes it work in general and list any caveats to keep in mind to make it work for you specifically.
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