I was inspired by fellow bloggers to consider how much we’ve spent on clothing this year. Budgets are Sexy did an expose on his clothing expenses and admitted that he certainly surpassed Mapgirl’s $373 thus far in the year.

Thinking about it over here in the DINKs household I realized how little we’ve spent on clothing for James. In fact, year to date those expenses add up to less than $30 to buy him new gym shorts. Aside from that he has not had a single other purchase. He is in dire need of shoes of all sorts and probably could do with a real winter jacket, so I can’t say whether or not he’ll make it through the year on that, but it is pretty incredible.

On my end, it certainly doesn’t look as pretty. I started up a new job at the beginning of the year and thus was in need of quite a few new items, having been overseas recently.

I can tell you’ve I’ve spent far more than James this year on underwear alone! I do however keep a very lean closet and buy classics that I wear for years. I’d much rather have quality over quantity, but I still buy nearly nothing at full price.

My next purchase, a pair of good winter boots!

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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