Why You Should Be Skeptical of Financial “Rules of Thumb”
Prairie Eco-Thrifter
MAY 1, 2013
Rules of thumb are often used to make various financial decisions. If you lose your job, or encounter another financial setback, 30% of your income might be too much to handle for a mortgage payment — especially if you have other debt. Rules of thumb can be useful in terms of starting points for deciding on what to do next.
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