Bon Nuit!

Greetings from Kinshasa! I’m currently wrapping up project work here at 1:30am local time and wanted to provide an in site concerning the global cost of living.

Once you get out in the world and travel a bit most people find many surprises in the dramatic costs of the same goods and services in different areas of the world. For instance Washington, DC is a great deal more expensive than Oregon, Bolivia and Peru are more expensive than Ecuador, Togo and Benin are more expensive than Ghana, and Macedonia is cheaper than Kinshasa.

Looking around Kinshasa there isn’t anything that would indicate a higher standard of living or more difficult access to resources, but Kinshasa is much more expensive than West Africa. It is even much more expensive than my recent travels to Macedonia.

I still don’t have all the answers for these differences in what it takes to survive in different places. I lived as a Peace Corps Volunteer for $85 a month and a great deal of the world survives on less than a $1 a day. I remember coming back from Ecuador, my first experience living in a developing country, and couldn’t get myself to buy a magazine as I could have eaten for several days for the same price.

It’s late so I better get going and try to catch up on jetlag and overworking!

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.

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