- An interesting article written in part by personal finance writer Jason Kelly suggests that if we listened to one important rule of personal finance, we’d all be in much better shape: Spend less than 80 percent of your take-home pay. Jason suggests,
Let’s keep this easy. Financial literacy doesn’t require lengthy explanations. It doesn’t even require difficult math. All it really requires is knowing how to stop spending at 80 percent of your take-home pay.”
I like it, at least as a starting point.
- The City of San Francisco has partnered with a Web site called HelloWallet.com to offer discounted financial guidance to its low-income residents with access to the site.
- The Smart Women Smart Money conference is on March 18th in Northwest Chicago. Registration and attendance is free. More information about the conference can be found on their Facebook page.
- A Wall Street Journal blog post (the blog is free) writes about how oddly, low-income kids might be getting a better financial education than their more affluent counter-parts.
“Even high-net-worth investors fail to appreciate the fact that in any given month they are spending more than they are earning,” says Glazer.We still see people graduating from college with huge debt and then taking on jumbo mortgages without even thinking that they actually have to pay it all back someday. They have so much over-confidence in their earning ability, and when the music stops they have a tough time fixing it.”
