The Conservatism Principle actually is a guideline used in financial accounting when recording transactions on the company’s books. But after learning about this principle, I could see how this can and should be used in personal money management as well.
A candle loses nothing by lighting another candle.
You might be wondering why someone would go through all this trouble and try to educate others who might or might not agree with you, let alone even read your content. Well, I can’t speak for everyone on this one, but here is why I think it is important.