FCA working group recommends 'five financial rules of thumb'

Based on the common phrases 'five fruit and veg a day' and 'a rule of thumb', the proposed 'Financial Five' is a result of one of the Financial Advice Market Review (FAMR) recommendations, which suggested the Financial Conduct Authority's working group design a set of easy-to-follow personal finance rules. The rules of thumb are meant to be memorable phrases, while a nudge is a "timely prompt from a trusted source" to remind people to act on the rules and make financial decisions.  For each rule of thumb the FAWG has identified an "illustrative nudge" to help people take action in ord...