For most Americans, modern life necessitates a high degree of mobility. Unless you live in a part of the country with great public transport, you probably need an automobile. So, for all you personal finance geeks out there, you might be wondering if its cheaper to buy a car or just lease it.

Well, the answer is: it’s generally better to buy. Not only will it help you build wealth because you can drive it for many years, you will avoid getting in the perpetual issue of leasing a new car every three years.

Check out this clip from MoneyTalksNews – a much underrated video series we like to rebroadcast here on the DINKS. It explains the ins and outs of the buy vs. lease decision.

Update: For more about this, consider visiting the Wall Street Journals page on How to lease a car.

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.

Click Here to Download
DINK's Free
Budget Template
Click Here to Download
DINK's Free
Net Worth Template

Couples Finance

Blogs You Should Read

Companies Supporting The DINKS

Please consider visiting our gracious supporters:

Get an education with the Online Certificate Programs at Washington Tech