Hi All,

We are both really busy today. Miel is currently in Congo taking care of a development program that’s gone bust and I’m plowing through 300 pages of a historical discussion on statistical methodology, so this posting will be brief.

There has been a lot of changes in the credit card industry.  After publication of numerous abuses in back in 05 and 06, congress and the federal reserve have clamped down on the card companies.  Instead of a lengthy explanation on the history of how this happened, here is a very quick summary by MoneyTalksNews.  More importantly, the video tells you how to react to the changing credit environment. Their advice: keep your balances low and keep an extra account open to demonstrate good credit.

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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