A Mysterious, Maddening Law of Economics
The Wall Street Journal recently reported on the "insidious and unforgiving Law of Household Economics." Don't remember this one from Econ 101? It goes like this: "For every financial windfall that comes into your home, there will be an equal, unexpected household cost." The article's author recited several first-hand experiences, such as the garage sale that netted just enough to cover the cost of a van window that was broken while transporting items to the sale.
Matt's View
We experienced the Law of Household Economics earlier this summer when our air conditioner died at about the same time that we received our economic stimulus rebate check. Thankfully, we place a high value on an offsetting law called the Law of the Emergency Fund.
This article filed in: Saving
Managing Money by The Book
- "I delight in your decrees; I will not neglect your word." - Psalm 119:16
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