Hi All,

Here is a quickie tip – avoid rent to own schemes, you’ll end up paying more in the long run. Here is how rent to own works, a company will buy an appliance wholesale, say a Television or DVD player, then rent it to an unsuspecting consumer for well above the wholesale price.

For example, a 42 Inch Phillips LCD TV goes for about $868 dollars wholesale. A rent to own outfit will want to rent it to you for $99 per month for 24 months. The gross profit on this is about about $1,508 ($99×24 – $868). Guess who pays for this? Yep, its you, the consumer.

Rent to own is a rip off. Instead get used appliances from craigslist or a flea market. Don’t let rent to own take any of your wealth.

Best,

James

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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