After three years of dating I decided it was the right time for to ask my girlfriend the question I have been waiting to ask for a long time: Will you marry me? And the answer, of course, was YES!

While we are definitely enjoying our new relationship status, inevitably we are looking towards the future and slowly but surely planning. If you know me, you know that I’m always trying to plan ahead and this is no different. I’ve already thought about some of the financial challenges we will face before I popped the question. We are prepared to tackle them together.

While some DINKs surely got engaged when they had been in the work force a few years, I’m sure there are an equal number who got engaged while they were in school and can probably relate to a lot of these challenges we will face (and overcome) in our marriage:

1) DEBT: Combined we have quite a bit of student debt. My fiance will go to grad school within the first couple years so her loans will be on hold for the time being. Either way we will eventually have to pay down this giant debt (though I think it was well worth the investment). We don’t really have any other debt at this point besides this, but there is a possibility around the time of the wedding next summer that we will be so low on cash that we have to go into a little debt just to get through that time in our lives (see #3).

2) Uncertainty: It’s a pretty difficult time to be graduating from college. I will be done in December and my fiance will finish in the Spring. Uncertainty about jobs, income, and the economy will be surrounding us. I think we will survive because we both are willing to work very hard to make ends meet. I used to be concerned about finding the “right” full time job, and there is a good chance I will get that job with the income and benefits I desire, but I am also ready to do what I have to do if that does not work out.

3) Wedding: The wedding won’t be cheap; there is a reason many claim that many people call the wedding industry “recession-proof.” We won’t be receiving significant (take that to mean what you want) help from either side of our family. While we will get some aid, we will need to save up whatever money we can so that we don’t have to take out too much debt to pay for the wedding. Preferably we would take out no debt but there is a good chance that won’t be realistic for us.

So we begin our (financial) journey together. I definitely credit my early exposure to finance blogs as a reason why I feel prepared to take on some of the challenges ahead of us. We hope you read some of our updates along the way and give us your advice!

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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