These Financial Rules Were Made to Be Broken #416

Do you know anybody who’s never broken the speed limit? Even just a single person- in your entire life?! And if you’re being honest you’re less likely to treat it as a speed limit, and more like a speed minimum. We think we should be going at least that fast, if not more! For better or worse the speed limit is one of those rules in life that consistently is not followed. We break that rule because we believe we can still drive safely, even while exceeding the speed limit. Well the same is true with our personal finances and the money moves that we make. There are a lot of financial rules out there that many believe must never be broken or even challenged, while we believe a certain amount of liberty can be taken. It’s not that we believe that the rules should be done away with altogether- they’re important rules of thumb and reference points that we should definitely pay attention to, especially early on in our financial journey. But as you gain more knowledge and experience there are some financial rules that were made to be broken. Listen as we cover some of those rules as well as why it’s ok to be a conscientious objector!

During this episode we enjoyed an Indefinite Staycation by Dogfish Head- thanks Ryan for donating this one to the show! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

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