As Joe Pinsker explains in this WSJ piece, if you are torn as to whether or not to splurge on yourself (e.g., pay for extra legroom on a flight), you don’t need to stress about it if the amount of money at stake is 0.01% or less of your net worth. Someone with $500,000 in wealth could spend $50 worry-free, according to the rule. The 0.01% rule isn’t part of a long-term plan, but rather a yardstick to pull out in moments of indecision. Some self-described tightwads said it helped them loosen up. Others who pride themselves on being frugal reject the term tightwad and say, don't splurge--save your money.
[EOP]
No comments:
Post a Comment