Merriam Webster defines a rule of thumb as: (1) a method of procedure based on experience and common sense; (2) a general principle regarded as roughly correct but not intended to be scientifically ...

(WYTV) – We’ve been using the phrase “rule of thumb” for hundreds of years. It first appeared among the collected sermons of a Scottish preacher named James Durham in the mid-1600s. He wrote that a ...

Some financial advisors can be rather critical when it comes to financial planning rules of thumb, or heuristics that provide general guidance to households about how to invest, save or potentially ...