Archive for March, 2009

Rules of Green Thumb

March 9th, 2009. Published under UrbanSpeaker. 1 Comment.

“A general guideline, rather than a strict rule; a means of approximate measure based on experience or common knowledge.” (Thanks Wiktionary.)

There seem to be an infinite supply of “rules of thumb”, passed on and on from generations of old. By no means are they real substitutes for sound financial analysis; however, in a pinch they can give you a quick working valuation. Here are the ones I use most:

1\\ Rule of 72
Want to know how long it will take to double your investment? This is probably the most well known and useful rule of thumb in finance today.

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Young People, Start Your GICs!

March 7th, 2009. Published under UrbanSpeaker. No Comments.

Many people who claim to be experts on personal finance love to force feed people the importance of emergency funds. And I agree with them, having some money for tight situations can help you stay out of credit card debt better then any other method. However, unless I have a way to keep the money out of reach, I will spend it.

What I am doing now is getting a GIC (Guaranteed Investment Certificate) that I can store my money in, but not be able to take it out.

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