I sometimes feel like a broken record saying this, but if you have goals you’re far more likely to get ahead in the world. We’ve been able to successfully save for a our wedding and the down payment on our apartment, partly because we have goals and follow up on them. Accordingly, we wanted to set our goals for March and say a little bit about them.

More specifically, by the end of March, our goal is to accomplish the following”

For both of us:

1) Submit our tax paperwork to our accountant

For Miel:

1) Contribute $1,000 to ROTH IRA
2) Save half of travel per diem from trip to Ukraine (Approximately $300)

For James

1) Contribute $200 to Miel’s ROTH IRA

2) Buy a $50 series I Savings Bond
The thing about these goals is that even though we have limited funds available, we should be able to meet these goals without a great deal of trouble. For example, the tax paperwork is mostly sitting our desks, but we just have to make time to go through it. Similarly, our personal goals make sense relative to the amount of income we are bringing in. For example, my wife Miel makes more than me right now, so her goal is higher.

Hope this helps!

Best,

James

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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