Ok, I will share with you a little wisdom told to me from my grandfather. It’s not nearly as elegant as your article but it has always been true. When I was a real estate broker, my husband and I would buy and flip houses. We would have inspections and estimates done and when we were done we would add 10% to the total cost. My grandfather’s words of wisdom? “It always costs 10% more to live than your income.” We never lost money on our flipping investments relying on that wisdom, and I still keep at least a 10% cushion on finances. Not exciting but true.
Ok, I will share with you a little wisdom told to me from my grandfather. It’s not nearly as elegant as your article but it has always been true. When I was a real estate broker, my husband and I would buy and flip houses. We would have inspections and estimates done and when we were done we would add 10% to the total cost. My grandfather’s words of wisdom? “It always costs 10% more to live than your income.” We never lost money on our flipping investments relying on that wisdom, and I still keep at least a 10% cushion on finances. Not exciting but true.