There’s a principle called Parkinson’s Law, after the man who coined it, Professor Cyril Northcote Parkinson. Parkinson’s Law goes like this: “Work expands to fill the time available for its completion.” Here’s how that looks when you apply it to the world of personal finances: Whatever I have, I spend. Actually, in today’s world it usually means something more like this: Whatever I have, I spend that—plus a little more. How hard is it to put aside a few dollars a day, or a little each week? Ridiculously easy. Yet most of us don’t do it. The United States has one of the highest per capita
...more
