I posted the other day on asking for to reduce costs as a way to get ahead. The second way to help your bottom line is to ask for more money from your job.

We’ve all gone through it before, you finally get the job offer and you freeze, wondering whether you should ask for more money. I’d advocate that even when the job offer is better than what you had expected, it is always worth your while to ask for more money.

Even if your boss doesn’t have the funds to give you more money, if done correctly, you will gain respect by at least asking for more. Another option that has been successful for me in the past has been to ask for a six month salary review with an increase for high performance. This helps in that your employer might not be able to offer you as much now, but they might be able to do an increase further done the road. This must be in writing in your hire letter.

I just recently tried this one out myself. I was offered a new job, and even though it is more money, I still had the guts to ask for more. Just for asking, I got another 3% increase.

The big news for us DINKs is what the job entails. I will be headed to Afghanistan in late September, working on a Higher Education Project. This project is revamping Afghanistan’s entire University system, including 16 Universities. I will be leading the International Training component and will lead University staff to training activities throughout Asia, traveling 50% of the year. Currently trainings are scheduled in Dubai, Delhi, and Kuala Lumpur.

This means that James and I will be making some sacrifices now for future gains in career, relationship, and finances. We will have four R&Rs to meet each other, totally seven weeks. While we will certainly miss our day to day connection, for us DINKs this is good timing and a great opportunity. I’ll post more details about the job and so forth as the time gets closer for me to take off.

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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