There are a lot of “rules of thumb” in the personal finance world. We all know the classic ones: you should save at least 10% of your income, you should have 6 – 12 months of expenses saved into an emergency fund, and you should X% of your portfolio invested in stocks where X is 120 minus your age. In ...
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This is a guest post from Leo Babauta of the simplicity blog, Zen Habits. Leo also recently started a new blog about minimalism, mnmlist.com. Finances are one of the most complicated things in many people’s lives … and yet, they don’t have to be. With a little effort, you can simplify your financial life and end the money headaches most people ... Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance topics and many other things. Got a question? Ask it in the comments. You might also enjoy the archive of earlier reader mailbags. I recently graduated college and have 2 student loans to pay off: Loan 1: ... Of all the posts on The Simple Dollar, the post that seems to drive the most emails to me is my homemade laundry detergent guide. People seem to hardly believe that I actually make my own laundry detergent. My response to these dumbfounded emails has evolved over time (yes, I get so many emails on this that I ... Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance topics and many other things. Got a question? Ask it in the comments. You might also enjoy the archive of earlier reader mailbags. I have a question about savings and student loans. I am in graduate ... Free checking is going the way of the free lunch. Once a common benefit at most commercial banks, free checking is becoming more of a hassle than a perk. Getting your checking fees waived increasingly requires meeting so many conditions and wading through so much fine print that, for many customers, it’s hardly worth the trouble. “Banks, just like airlines and local ... Over the past few months, our finances have been in something of a “reset” mode. In the process of taking more control of the advertisements on The Simple Dollar’s website (which is my primary source of income), I had to change billing systems. With my previous primary advertising representative – Google – I would get paid the month ... 
Before you jump to an answer or nasty comment, please give me a chance to elaborate. Recently, I ran across an interesting article in the Bogleheads Wiki titled Placing Cash Needs in a Tax-Advantaged Account. Essentially, because of the way the U.S. tax code works it can often be better to keep certain asset classes like ... A reader once told me that he identifies better with other blogs because they write about the “city” and I write about “rural life.” I was informed, quite clearly, that he couldn’t possibly learn anything from a blog that spoke from a “rural” perspective. This is actually a pretty common thing. I hear all the time from city dwellers ... 
Rules of thumb are great. They teach you a little nugget of wisdom and have been vetted by generations of experience. Don’t swim thirty minutes after eating, don’t mix hard liquor and beer, and don’t date your relatives. Follow those rules of thumb and you’ll live a happy and healthy life. The same can be said about financial rules of thumb. ... |
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