Happy Friday my fellow DINKS.  This week we are discussing our DINK status.  We are all in dual income relationships with no kids.  But, is it by choice? Or by necessity?  If your partner was independently wealthy, would you become dependent?

I would like to believe that I would answer no, but when the money hits the fan, I am just not sure what I would do.  Since we all do not have any children (yet) we wouldn’t become “Housewives” or “House Husbands” if our partners suddenly hit the jackpot.  So what would we do?

Maybe some of us would consider having children. I use the term having children instead of the traditional “start a family” because I don’t personally believe that children define a family.  My immediate family right now consists of my boyfriend Nick, my parents, and my younger sister Tara.  She is 26 years old and she is also a DINK.  Just because we don’t have kids doesn’t mean that we aren’t a family.

Maybe some of us would continue working. I am 29 years old and I have been working two jobs since my parents got divorced when I was 18.  I have never known a life without work; therefore, I don’t think I would be able to walk away from employment.  I might be able to walk away from full time employment…but not wave good bye all together.  My career does not define me as a person, but it does sort of give me a sense of being, and belonging.

There is also the question of contribution into the relationship.  If you are not working, and you are not contributing equally into your relationship finances, would you feel undervalued? Men and Women contribute different ways into their relationships. But would chaos break out if the black and white contribution lines of our relationships suddenly became grey?  I have to admit, it may be very tempting to have a nice big house without the expensive mortgage payments!

Here is some financial news that we have rounded up for your reading pleasure this week. Enjoy and Have a Great Weekend!

(Photo by RGallant)


This entry was posted in Blogging, Career, Money Management, Weekly Recap by Kristina Tahnyak. Bookmark the permalink.

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

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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