The impression I’ve been getting is that not everyone feels discussing personal finance on the internet is appropriate. For example, Miel’s ex-boyfriend recently found our blog and thought it was crass that we put so much personal information on-line. Some of our friends have also been concerned that the amount of disclosure we have on our blog might potentially cause conflict. For example, one of our friends said that someone might become jealous or feel slighted if we refused a request for money.

Not only that, I’ve noticed that sometimes when I tell people about our blog, sometimes the response is “Oh geeze, I’ve got to start taking care of my finances a little more” or sometimes I’ll just get an embarrassed silence.

I think this is a shame. Why, you might ask?

Its because honesty is a predicate for success. Specifically, if you intend to get ahead financially, its a lot easier if you’re willing to discuss your money openly and honestly. For me, this means not disguising my identity on-line and it means truthfully revealing information like my net worth or income (with a reasonable degree of safety of course). Generally speaking, a lack of willingness to share ones financial information means its harder to be truthful about ones finances and accordingly to get ahead in today’s world.

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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