Financial Rules of Thumb 2
4) Buying a car is always cheaper than leasing
I have never leased a vehicle because I drive them a long time and can do a lot of my own maintenance. Your time horizon coupled with financial situation can give the insight needed.
5) Always go with a fixed rate mortgage – especially when interest rates are rising
There are way to many factors and options to consider to say this is a good rule. Selecting you loan is based on your cumulative projection of interest rates, ownership horizon and financial ability to pay. Be sure to consider “What Happens if I am Wrong”
6) Your life insurance coverage should equal six times your annual income
I think it should be more, but for some people they do not need any at all.