I read an interesting article the other day about the taboo of talking about your personal finance situation. The article can be found here. Its interesting because when I was going through my senior year of college and applying for jobs along with most of my friends, we talked pretty openly about salaries, benefits, financial goals, etc… However, since we’ve all started working we don’t really talk specifics, just vague generalities about our own money situations. There’s something about building wealth that makes it a taboo subject. Has that been everybody’s experience, or are some people more open with their friends?

– Michael

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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