We DINKs have had our fair share of the great credit card debate. Feel free to check out our multiple post that bring us to this battle line. GREAT CREDIT CARD DEBATE

The short story is that James & I, along with our readers, have been debating this issue over the past six months. In fact, the blogging community came out of the wood work just to comment on how committed they were to using credit cards for miles or how they would rather get their hands on some crack before laying a finger on valid credit card.

James has come up hard in the later category. I in the former. Just for the record, most of our readers came in on my side as well. (Though I’ll admit that many of our readers have either come by financial discipline naturally or have likely learned their lessons and now know how to handle credit cards responsibly.)

Now the big news: James has at last admitted the error of his ways!

Yes, you heard it, James admitted that maybe there is something to earning miles.

This conveniently came after my booking his fourth $5 ticket on United this year. Since I priced out all of these tickets to make sure they were worth the miles, I’d say this would have cost him $1,200 to have bought these tickets for himself. Plus I had another ticket for myself during that time period.

Now in the end, can you really debate that if using a credit card responsibly, even taking into account the occasional mistake, that you would come near to that much in charges? I don’t think so.

Now, my next mission is to get James to use my United card for his regular expenses back in DC. See, the thing is, that since I’ve been in Afghanistan my visa card likely wonders if I’ve dropped off the edge of the planet. If I hadn’t of notified them of my trip they would have likely called me in as a missing person by now.

While I’ll still make occasional use of it on R&Rs or travel for work, but my card won’t be getting quite the consistent work out that it did back in DC. Now that I’m getting double miles for gold status it sure would be nice to have James expenses count towards our next R&R.

Wish me luck with that one!

Thanks to all of our readers for their great contributions to this debate!

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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