We DINKs believe that family plays a significant role in finance. Let’s face it, much of our outlook on money comes largely from how our experiences developed as youngsters within our families. Even if our financial management principles diverge greatly from that of our family, that very divergence likely comes from our reaction to how we grew up around money. This also extends to our first finance experiences in the real world.
Here are some of the main topics concerning finance and family that we’ve found to be worth discussing:
Some of the basics related to family comes down to groceries, eating out, cars, rent/mortgage, electricity bills, health insurance, family debt, etc. Plus a few tips from America’s most frugal family.
Preventing family conflict over inheritance issues has been something that we’ve – and many others have experienced within our families. Also take a look at the difference having siblings makes on inheritance. This also brings in the importance of wills and why having one can protect your spouse and family.
Kids are another key part of the family. We may be DINKs, but we still love kids. We have nine nieces and nephew on Miel’s side of the family and none yet on James side. In the role of auntie and uncle we like to do our appropriate role of spoiling them a bit, as well as teaching them about money and help them save.
Also related to kids, we’ve also done a fair bit of contemplation around the possibility of our own having kids one day. We don’t have children, but understand that the cost of kids also comes into play. Watching our family and friends we’ve looked into ways to save money around kids, steps to prepare for kids financially, whether to funds kids’ education or retirement funds, and financial tough love.
When family goes much, much further, we all think of family when it comes to holidays and special occasions. If you are like me, you like to splurge on family even more than you might yourself, though I did buy plenty of cheap pearls in Bangladesh for myself as well! We do like to engage in activities like and believe in buying gifts when there is need and a good fit, rather than just because, remember, say “No” to the horror of rubbish presents.
Holidays are also a great time to find extra ways to save, including frugal dinners, holiday gift trades, fun Thanksgiving finance facts, Plus, see how you stack up with Halloween spending.
We’ve also looked at several kinds of family businesses, a potential family venture in real estate, plus the Five Guys family business story.
We also like to occasionally share the successes of our family, such as Miel’s mom paying off her car or getting her first check card, and her twin sister’s real estate success story. We visit family fairly often and are lucky enough to have them live in great places like Oregon, California, and Hawaii with the Aloha spirit.
With multiple family members and friends being gay and lesbian, we are big advocates for gay marriage and overall financial rights for all long-term couples. We were also delighted to see James’ moms as the first lesbian marriage in Lane County, Oregon.
Other interesting topics include the issue of class divisions and social stratification, generational gaps, the entitlement generation.
We also appreciate the learning opportunities that come from the older generations in our family, as well as considering how to care for elderly family members. Miel’s 93 year old grandmother shared her thoughts on the financial crises now versus the Great Depression. We’ve also dug up resources that might be useful for other family, particularly seniors and military personnel. Plus fun stuff like why Leona Helmsley is the worst grandmother ever!
Last but not least, we look at family and blogging and the reactions we’ve seen.
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