Im getting married June 27, im 23 and shes 21, she will be 22 when we get married. I need to know that we will be OK with the income we make and everything else. Together, we make $100,000 a year, and we both go to church. We got $60,000 to lay down on a house, but for some reason, im still worried about will we be OK with the money we make? Some people tell me we will still have it rough, and I still am worried. Please tell me your honest opinion, thank you.
2007-09-22 00:50:16 · 19 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
You are a smart person for asking this question. In the current real estate climate the more you have for your down payment the better. Really if you have enough money to pay cash you REALLY will be in good shape.
Since you have not stated what part of the country you live in or if that 100 grand is your gross or net income, I can't really say if it's gonna be rough. However if you live in the Midwest there are places where sixty grand will buy a nice 1,200 sq-ft starter house. In the big cities of the west OR east coast 60 grand will only be a small down payment on the same house.
My advise right now is too slow down and postpone marriage. If you REALLY love each other the additional time will mean nothing to you emotionally. Since you are church going folk, that only bolsters my point.
If you both are still living with your parents, make arrangements to pay them a small amount of rent (enough to not cause them any additional expense) and bank the rest (US bonds, CD's etc). Give yourselves a couple more years, build your combined wealth more and have PAY CASH for a starter home.
It will pay off in the long run and you won't need to worry about living a rough life.
Good Bless.
2007-09-22 00:53:58 · answer #1 · answered by ranch_tester 5 · 1⤊ 1⤋
Yes you will be fine!!! People make it on a lot less than that!! Make a budget, stick to it, and remember the golden rule, keep three months of living expenses in a savings account. That way if anything happens (unemployment, illness) then you have the money to maintain your "custom of living" and you can take the time to resolve the problem. Perhaps investing in stocks, or some type of IRA, 401k or something that will also collect interest and MAKE you money is a good thing. Try maybe putting $40k on a house, and investing the rest. Having a good financial portfolio can be a KEY in having a great financial future.
2007-09-22 01:02:50 · answer #2 · answered by Austins Mom 6 · 1⤊ 0⤋
Well. Congratulations!
My hubby and I don't make near that, and we get along just great financially. It all depends where you are planning to live, the mortgage payments, your spending style etc.
We bought our house with no money down 2 years ago for 100,000. It appraised at 124. Lot of work needed to be done, but its still a work in progress, we still go out to eat (regularly), bowling etc...
you'll be fine as long as one or both of you can manage the bills wisely.
Congrats!!!
2007-09-22 00:56:55 · answer #3 · answered by deleriumbliss 4 · 2⤊ 0⤋
You guys make more money than a lot of people out there.
If you have already managed to save $60,000 then you guys know how to look after money already.
you will be fine, don't spend too much time worrying about it as what ever will be will be, control it as best you can. plan for the future and enjoy.
If you spend your whole life worrying you will forget to appreciate what you have in front of you and that is your beautiful wife.
2007-09-22 00:58:59 · answer #4 · answered by Anonymous · 2⤊ 0⤋
Unless you're trying to live above your means you should be fine. Something in me is telling me this is a bogus question but just know that you'll be fine. Unless you have horrible money management skills which would be totally different. Then if your wife to be is the more responsible party let her handle the finances and you just make the money.
2007-09-22 00:59:20 · answer #5 · answered by Southern Lady 3 · 2⤊ 0⤋
Hahahahahahaha, combined my partner and I, we're not married, but we're are living together and are older than you and only make about 12 000 USD per year TOGETHER, no joke and you know what? We survive just fine, but we're both university students (no loans btw) used to the Ramen noodle diet. Seriously?? You're not a horse's arrrs are you? The only way you'll have it rough is if you try to live outside of your means and it sounds like you might, hence the words of warning....
2007-09-22 01:02:14 · answer #6 · answered by skunk pie 5 · 2⤊ 0⤋
You make HOW MUCH? And people are telling you that you'll have it rough?!?!?
And you have $60,000 to put down on a house!
Hard time my a$$!!! My hubby and I make (when I go back to work) $70,000 a year and that is with TWO KIDS! And no money saved for a house.
I think you're just bragging.
2007-09-22 03:20:51 · answer #7 · answered by Spring 5 · 0⤊ 1⤋
i does no longer get married. does not sound like he's waiting. additionally, he's putting himself and others before you. You deserve greater advantageous female. additionally, it particularly is beneficial to pass on in case you desire to calm down with somebody. I also have a chum who's in an identical issue, yet she has been married 6 mos now. does not look like he is going to boost up quickly. you ought to get a pen and paper and write the experts/cons of marrying him. you may as him why he desires to get married to you, in case you have no longer already.
2016-10-05 04:11:59 · answer #8 · answered by ? 4 · 0⤊ 0⤋
You make plenty of money and its not always how much money we make---the KEY TO FINANCIAL SUCCESS? Its how you manage your money.
Look for a mutual fund now..and open one...add to it.
Use restraint spending money--buy things when you feel you are ahead a bit.
Dont keep up with the Joneses--most of us cant buy the sports car until Age 50 and kids gone.
You and your wife work together----have financial goals---have unity at home.
When husband and wife are in unity---there's not much you cant accomplish.
Always have a money reserve--you will be surpised how better life is when you know you have some cash.
As I tell my son, position yourself uphill looking down---be lender ....not borrower.
2007-09-22 00:59:42 · answer #9 · answered by skyward 4 · 1⤊ 1⤋
Getting marrowed is fine if you two have all that love. If you are looking for a home? The two of go out and see whats is less money or more its has to be in rosin for you two and you wall be fine o.k. Good luck bing marrowed
2007-09-22 01:10:21 · answer #10 · answered by JustAsking 5 · 1⤊ 0⤋