Evolving Personal Finance » Entries tagged with "Pareto principle"
The 80/20 Rule Applied to Personal Finance
I’m sure that most of you are familiar with the 80/20 rule or the Pareto principle, but in case you aren’t… The basic idea is that 80% of outcomes can be attributed to 20% of causes (Investopedia). This originated as a business principle but has been loosely applied in many other areas. This post from Money Peach on excuses for not budgeting (and counter-arguments) really got me thinking about how simple most of personal finance is. Really, … Read entire article »
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