Hi All,

Its another ridiculously busy day here in DC. At the moment I’m getting some class reading finished up so there won’t be time for a full length substantive posting.

However, here is a very good video by money talks news. They’ve done a quick expose on tax return refund anticipation loans. In case you don’t know what a refund anticipation loan is, its a high-profit, low-risk loan typically marketed towards the working poor. These products have been heavily criticized by consumer advocacy groups as a form of modern loan sharking, as they are not the best products for long-term wealth generation, which is something the working poor desperately need for a brighter future. I agree.

Check out the video.

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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