Keeping with the theme of expensive city living, I wanted to throw out the recent case I heard from a friend who now no longer has parking included with her job. This means that she was weighing the pros and cons of paying $415 a month to park at her office.

True it offers some convenience and saves time in the day, but there are certainly a few better things I could think of to do with that $415 a month.

Personally you can see where I fall in the spectrum, as having a car in the first place isn’t worth it to me. Another friend was trying to convince me that I needed to take the bus to work rather that walk 1.6 miles each way, but I’ll still take walking for a bit of extra exercise than pay $50 a month. I take it about once a month, and that is enough for me.

Needless to say, I’ll be skipping the parking, but there are plenty of folks in DC who do pay it year after year. Don’t know how or why, but clearly there is a market. There are other ways to get around that are not quite as convenient but are much more frugal and will allow you to save a lot of money over time.

To each their own.

Cheers,

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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