Double the Income, Double the Opportunity!

DINKS don’t just need a budget that pays the bills; they need one that funds freedom, fun, and a great future.

Most DINKS couples have higher disposable income, fewer fixed costs and more flexibility. It's not about restrictions, but about intentional choices.

Aligning your goals as a couple is very important. Whether your goals are travelling around the world, early retirement, buying a home, moving, career changes, etc...

We suggest a monthly "money date" where once a month you discuss openly about your values, priorities and upcoming expenses as a couple.

We also encourage writing a three to five year vision so that your money decisions have a clear purpose.

Building a simple budget to stay on track works great! We've been working with the same budget format for years and it really takes a lot of stress off of the both of us having a budget to follow. For more information on the budget format that we've been using, you'll find it's available at the end of this article.

What we recommend in a monthly budget is -

1. Write down your fixed needs (i.e. rent/mortgage payment, car payment, your average monthly utility bills, internet, etc..). The aim is to keep this number around 50-60% of take-home pay so one income could cover it in case of an emergency.

2. Write down your financial goals (i.e. money for savings each month, investing, paying off a credit card or any other kind of high interest debt).

3. Don't forget to also put some money aside each month for fun (i.e. dining out, trips, hobbies, concerts, treating yourselves, etc...)

4. An emergency fund is also very important! We recommend saving approximately 6 to 12 months of essential expenses just in case an emergency comes up (i.e. a job loss, health issues, home emergencies/repairs, etc...).

Once you have your monthly budget written out, we'd suggest paying off any high-interest debt, like credit cards as a priority since most of them incur interest. What we do sometimes is sign up for a 0% interest credit card with no foreign transaction fees so that we can save some money while traveling overseas and can leisurely pay it off over time. We just make sure it's paid off one month before the promotion ends just to be on the safe side so that we're not paying any interest.

Don't forget if the company that you work for offers a 401(k) to take advantage of the match if it's offered. It's like "free" money!

The earlier you start budgeting and saving the more you'll have in your DINKs nest egg!

One of the things that we encourage as well is to set automatic transfers right after payday so "wealth-building" happens in the background. What you don't see in your hands you more then likely won't spend it!

Also, buying back time and outsourcing chores is a great option if you can fit it into your budget. If you don't like going to the grocery store shopping, have the food delivered fresh to your door. If you're like us and live in a climate where the grass grows heavily and leaves fall the same way, it's worth splurging on a landscape company to take care of that for you. It freed up at least 2 1/2 hours a weekend for us to enjoy other things! It's one of the best decisions we've made! Free time is priceless!

Review your budget yearly to make sure it's up to date. Dual income is a tool to create freedom, stability and joy in our lives.

As a DINKS couple, you have a powerful combination: two incomes and fewer obligations.
Used thoughtfully, that can buy you freedom, flexibility, and a lifestyle that truly fits your values.

You don’t need to be perfect. Just start with one small step today:

Schedule a "money date"

Set up an automatic transfer to savings or investments

Pay extra toward a high-interest debt

Cancel one subscription you don’t use (this can add up over time)

Your dual income is a tool. With a clear vision and a simple plan, you can grow real wealth and enjoy the rewards along the way!

Special Tips for Budgeting for Two!

Try one of many apps like YNAB (You Need A Budget) or GoodBudget that is handy for "his/her/ours" spending buckets. Also, the Rocket Money app tracks subscriptions, helps cancel unused ones, and can automate savings goals.

Once or twice a year run a "single-income stress test" where you pretend you only have one income for a month. See if your budget survives and then adjust accordingly.

Another tip is to create a "no-kids dividend" line item in your budget. Estimate what daycare/child costs would be (often well over $ 1,000 a month) and intentionally put a portion of that into fast-tracking mortgage payoff (i.e. putting more toward the principle which will help a great deal in paying off the home loan sooner), money for retirement, high interest debt or annual "bucket-list" trips.

If you get a bonus or a tax refund intentionally put a percentage to fun and long-term goals.

As far as really big purchases, we suggest anything over a high amount that you set, requires a 24-48 hour cooling-off period and a joint check-in before making those large purchases. Sometimes we can get caught up in the moment and get all excited and buy something out of impulse.

**DINKS Monthly Budget Planner**

We created this easy-to-use MS Excel budget workbook especially for DINKS. It's perfect if you want to save for goals (travel, house, early retirement etc...) without giving up the fun parts of your DINKS lifestyle.

In this easy-to-use MS Excel workbook it allows you to track both of your incomes, bills, savings, fun money, and debt in one organized place—no complicated formulas or finance degree required!

Just plug in your numbers, and the built‑in formulas calculate your totals and the different charts/graphs show you exactly how much you have left for goals like travel, a house, or simply enjoying life together! Everything is fully editable, so you can rename the categories, tweak the colors, and make it fit your lifestyle at any stage.

If you’re ready to feel more in control of your money as a DINKS couple, this planner is for you!