))
Ep #97: ER Docs, Use the 80-20 Rule to Master Your Finances!
Manage episode 337992915 series 2799517
Content provided by ER Doc Advisor. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by ER Doc Advisor or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
There are several financial “rules of thumb.” Take not exceeding 28% of your gross pay on your mortgage payment or maintaining 6 months of spending as cash reserves, as examples. And while these may not be adequate for everyone, they can serve as a general guideline and promote action where otherwise action would not have been taken otherwise. In that sense, these guidelines carry positive influence.
In the same vein, on today’s episode we’ll discuss a principle that not only applies to personal finance, but bleeds into all aspects of life. It’s called the Pareto Effect.
247 episodes
Share
