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

Prairie Eco-Thrifter

While they can be helpful when it comes finding a starting point, rules of thumb should be approached with a degree of skepticism. What if you estimate your retirement based on how much you are able to save, but a job loss means you can’t set aside money anymore, plus you lose your employer match?

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

Many people think they have no choice in this but the reality is, most people can find small ways to cut spending so that they can put a small regular amount into savings. Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times.

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