We DINKs know that you have better things to do then sit around and cruise the net for personal finance article, so we wanted to let you know about an interesting piece on payday loans and the fringe economy from Alternet.

The basic point of the article is that payday loan making organizations like check-cashers, rent-to-own business and pawnshops constitute a whole separate “fringe” sector separate from the mainstream economy. A basic characteristic of this fringe economy is it’s catering to poor or financially disadvantaged persons with the use of high interest products such as payday loans. It’s an interesting article and outlines how payday loans have a detrimental impact on poor peoples budgets.

Enjoy!

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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