It seems that in issues around money, people get soft in the knees. How many times have you seen someone pass up money that was rightfully theirs, just to not cause a fuss? How many times have you done it yourself?

There are times when diplomacy or letting it slide might be the thing to do. Often times though, you are in a better position by standing up for yourself. Some examples include:

Being Paid Back. People often get squeamish when asking people to pay them back. Think of it this way, whomever borrowed the money from you was not squeamish to ask in the first place. It’s always best to get payback as soon as possible so it doesn’t become an issue.

Being Overcharged. Pay attention to your bill and don’t be afraid to point it out if the bill is wrong.

Paying for Work. I’ve seen lots of people just brush off expenses that they make on behalf of work and don’t bother to request reimbursement. If it is a legitimate work expense then you should make sure that you get paid back.

Bartering. Different from getting charged wrong, many people won’t bother to negotiate even when it is expected to do so.

Fighting Fees. This is also a big one. Whether it is credit cards, banks, utilities – you name it – pay attention and fight it if unwarranted fees are slapped on your account. These can add up significantly otherwise.

If you aren’t used to standing up in cases like these, I’d suggest that you give it a try. Chances are, you’ll feel better for having been paid your due.

Best wishes,

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.

Couples Finance

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