Paying in advance for services often means asking for trouble. Here are a couple of areas where it pays to hold out until the job is done.

Contractors, Carpenters, Repairmen, Plumbers, etc. Though I dearly respect those with this talents, these are all professions I’ve found that are best to wait on full payment until the job is done. I learned this lesson is Africa while making bee hives with a local carpenter; it paid off in spades to hold out until the job was complete. James learned his lesson on this one a few years back when he ended up having to finish off the last of the follow-up work, since the contractor wouldn’t come back. If you’d rather not finish off fixing your leaking faucet, then heed this advice.

Seamstresses and Tailors. Though these aren’t as commonly used in the states, it pays to wait until the job is done. In addition to many times in Africa and here in Afghanistan, it was also helpful when having my wedding dress altered, as a couple of the places that were gone over at the second fitting hadn’t been finished off properly on the final fitting.

Hotels and Rental Cars. Though you can get some good deals for pre-paid stuff, sometimes it pays to have a flexible reservation. This came in handy on my last trip to Portland, Oregon when I realized that the car I originally rented was not in a neighborhood that was easy to get to without a car. D’oh!

Remember, waiting to pay gives you leveraging power, flexibility, and better assurance that the job will get done to your satisfaction!

There are probably quite a few other examples of services that are better left paid until the end. If you’ve had an experience that paid to wait until you were satisfied, leave us a comment!

Cheers,

Miel

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.

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