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Is there a handy reference that corelates the number of decimal points in a coordinate to the precision in meters?

I had discussions like "4 decimal places will place you within a 500 meter radius" and "6 decimal places will place you in a house". I want a reference that can clear up such facts and requirements.

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up vote 4 down vote accepted

Check this awesome answer to a similar question (guessing WGS84 due to the gps tag) and don't forget that false precision can be a big problem if you'll be working on large scales with cheap receivers.

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Not unless you can define what the units of measure are: degrees lat/lon, UTM, or some other units.

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