Five financial rules of the thumb to keep you safe when you start out

They are not sacrosanct but will act as safeguards, especially when you are starting out

One size may not fit all. But a few rules of thumbs in financial matters can help those who are starting out and planning on their own. While everyone’s situation is different, in the absence of an advisor, the broader rules can set you on track.

They may sound too simple but even investment advisors say that they come in handy. “If a do-it-yourself investor opts for rules of thumbs in financial planning, he can avoid grave mistakes,” says Deepesh Raghaw, a Sebi-registered investment advisor. Agrees Suresh Sadagopan, founder, Ladder 7 Financial Advisories: “They are short-cuts that help avoid investment decisions