Financial Rules of Thumb

This page has various rules of thumb related to property, saving, investing, and so on. My financial knowledge is weak and I’m well aware that these rules of thumb are starting points, not hard and fast rules, but they help me nevertheless.

For example, on investing:

If you don’t understand it, don’t buy it –  best advise I have seen … if you make an investment without having a pretty decent understanding of that holding you are a gambler 

And here, about saving:

48 Hour Rule – This thumb rule is useful against impulse purchases. The rule states that when you have a strong urge to make an impulse purchase then postpone the purchase for 48 hours.

Remember – most advertisement is about mind manipulation and that has an immediacy to it. It is why (in the UK), credit purchase has a 1-2 week cool off period