For many people, money is more than just a store of value or the ability to purchase goods and services. Money has emotional meaning. In our modern capitalist society, people’s lives evolve around the context of money.

We don’t exactly see money through the same frame, so we thought it would be interesting to share our thoughts on the meaning that money holds for us. This will give you hope, that you too can work together well in finances, even if you don’t always see things the same way.

Miel: Money for me is largely what it can do for you. Don’t get me wrong, I don’t actually have to spend money for me to see what it can do for me. I get as much of a kick out of watching our earnings add up as James does. But what sets James & I apart, is that money in our lives has a different emotional meaning. I can be as diligent at saving as James, but there must be a goal. Money also means freedom to me. I’ve always enjoyed my financial independence and can’t imagine it any other way.

James: For me, money is more about security and safety. If you have enough money saved, then one really doesn’t have to worry about loosing ones job, or needing to rely on others. So, basically, for me it’s about autonomy, flexibility and independence.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

Couples Finance

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