Scott and his husband are a dual income no kids (DINK) household. They have come into some extra money lately and want to know what to do with it.
Do they invest the money? Do they save it? Or do they pay down debt?
To help me answer Scott's question, I've invited David and John Auten-Schneider from Debt Free Guys. These financial experts break down different options for Scott, review the pay off debt vs invest question and discuss how their decisions relate to LGBT couples in general.
Listen above or watch below to see what to do with extra money if you're a dual income no kids (DINK) household.
What are we covering?
David, John and I review the following:
- How Dual Income No Kids (DINK) families can use their extra money during the pandemic
- Why LGBT couples need to have a bigger emergency fund
- How to decide whether you should pay off debt or invest
For those of you who have been long time listeners, you may remember that we interviewed John and David in 2017 about how they paid off $51,000 of credit card debt. Check out that episode and enjoy this one too!
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Guest Bio – David and John Auten-Schneider
With their writing and speaking for DebtFreeGuys.com, their micro blog, DebtLasso.com, and their Queer Money® podcast, David Auten and John Schneider help queer people (and allies) live fabulously not fabulously broke.
As certified LGBTBEs, they represent the queer voice in both personal and business finances. David and John’s work has appeared in Forbes, Yahoo Finance, CNBC, ABC News and Good Morning America to name a few.
They’ve partnered with some of the best in financial services, including MassMutual, Prudential, Capital One and Chase, additionally with LGBTQ+ organizations like The Trevor Project, The William Way Foundation, One Colorado, and numerous LGBTQ+ centers across the country. Their goal is to connect LGBTQ+ people with the information and services they need so they and the queer community can do more and be more.
David and John Auten-Schneider Resources
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CARPE DIEM QUOTE
“The most difficult thing is the decision to act, the rest is merely tenacity.”― Amelia Earhart
Are you a dual income no kids (DINK) household? How are you deciding what to do with extra money right now?
Please let us know in the comments below.