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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. The result is that your money will last indefinitely. Your money really can last forever.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Philip from Deliver Away Debt shares his story: How I Delivered Away My Debt. mbhunter from Mighty Bargain Hunter asks Are you contributing to this debt clock? and says, “The big debt clock is over $14 trillion now, but this other one is approaching $1 trillion, and may affect you more directly.&#. How about you?

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It Really Does Get Better

Prairie Eco-Thrifter

Are you so far in debt that you think you’ll never get out? Do you believe that what you are doing will never pay off – that you will always be financially insecure? Do you peer into the hazy future and think “life is not getting any better, will not get any better and I will end up as poor as I am today&# ?

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