The missiles won’t be launched. Blood isn’t running in the streets. You owe some money, that’s all. You’re not going to be shot at dawn. There is no debtors prison.
– Jerrold Mundis, How to Get Out of Debt, Stay Out of Debt, and Live Prosperously
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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