So I’ve been on a kick lately of contemplating need vs. want.

I’m currently in Ho Chi Minh City, Vietnam for a month, where there are absolute tons of must haves. From silk clothing and purses to home wares and art, there’s something for everyone.

As I’ve made my way around the city for the past three weeks I contemplate what I might get during my travels.

The thing I’ve come to realize, aside from the reality that there really isn’t a great deal that most of us Westerners actually need, is that stuff breeds stuff.

The only two things I have bought were reactions to stuff I already had. I have a camera that I’ve been looking for a rechargeable battery set that can still be used back in the states. I finally found the right one, and bought this.

I also happen to have the world’s largest work laptop, perfect for all of my travels, and keep struggling to find the right bag. I managed to find a cute and functional one here for less than twenty bucks and picked it up.

Granted that neither of these were large expenses, but my point is that much of what we feel that we need to buy is because of the stuff we have already.

Think about it. You buy a TV, then you need cable. You buy a car, and then you need gas. You buy an iPod and then you need music. It really goes on and on.

My point in all of this, is that before you buy something, consider what else you might later feel the need to buy as a result of that purchase. For instance, some are prone to buying something that goes with absolutely nothing in their closet. Then they must buy more clothes just to wear the clothes they just bought. It’s a vicious cycle.

If you’d like to save money, the planet, room in your closet, stress from clutter, think before you buy.

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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