50SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr One-size-fits-all financial advice isn’t supposed to work. We’re all as unique as snowflakes, so the financial rules that guide us should be molded to our individual situations.Except it turns out that rules of thumb can be really helpful.A study of West Point cadets, for example, found teaching rules of thumb was at least as effective as standard personal finance training in increasing students’ knowledge and confidence as well as their willingness to take financial risks. Researchers found money rules of thumb actually were more effective than teaching accounting principles to small-business owners in the Dominican Republic.Besides, we all have busy lives — sometimes, we just want an answer. If you’re tired of the “on the one hand this, on the other hand that” approach to financial advice, check out these guidelines I’ve collected over the years. Perhaps you’ll find some one-size-fits-all advice that suits you. continue reading »
"12 money rules to live by"