Ok heres the thing, I just turned 21 about 2 months ago (which tells you I'm a young guy), only have had a years worth of college done (no degree yet..), and living @ home w/ parents. (sounds loserish), my girlfriend is also young (19), and we dont have bad credit but we have NO CREDIT, both live at home, and she cant work, baby due in about 6 months, I found a job (only making 35,000peryear), and I'm trying to find out what are some of the things that i should do other than just save my money...we want to try to move out in the next 5 months.....other than penny pinching, what should i do (it is my responsibility to make sure i take care of her and the baby..not anyone else)...what programs...be it government..or even types of bank accounts i should set up for future things....MATTER FACT ANY TIPS/ADVICE/INFO WOULD BE WONDERFUL........im clueless!! HELP!!!!!!!
2007-12-21 19:10:46 · 5 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
Congrats on becoming a dad and on taking resposablity. I'm a 28 y/o father of 2 girls . If you had plans on being finicialy syable before having kids give that dream up . In todays job market 35,000 a year is not bad i dont make much more then that and i am takinig care of a family of 4 plus a house payment . So it can be done my wife is a homemaker so we only have one income which is my checks not saying it wouldn't be easier if she was working but now days there is not a whole lot of people i trust with my daughters . my best advise i can give you is dont sweat the small things in life and hold onto the innocents of your child once your child is born. As far as your investments go i would recommend you talk face to face with an invetsment group in your area to set up a investment plan that will fit your needs and plans.
2007-12-21 19:31:19 · answer #1 · answered by David C 2 · 0⤊ 0⤋
Living at home at your age or while going to college does not make you a loser. Save all the money that you can until you move. Check and see how much you are going to need for deposit for the utilities and the rent. Try to buy things that you are going to need before then. (dishes, towels, etc.) Get a savings account and put money into it every payday. If it can only be $5, don't worry, put it in anyway. Always save, it will become a habit. Try to find a place to live that has utilities included or that has less of them. Get rid of any unneeded expenses. Remember, do not ruin your credit once you get some. You need it for everything. Some places of employment now check your credit to get hired. Bad credit is a sign of irresponsibility to an employer. I would also try to continue your education while you work. I do not know of any programs. I would also start your baby a bank account when she is born. Put money into it. It does not matter if it is only a little, it adds up. When ours were young every dollar anyone gave them went into their bank accounts. Some of it still does but they spend some of it now. You seem like you have your head in the right place. Congratulations on the baby and good luck to you. Hope this helped.
2007-12-22 03:40:53 · answer #2 · answered by kim h 7 · 0⤊ 0⤋
That is so sweet, your going to be a good father, I can tell. Well, she can apply for WIC, Women Infants and Children program through your local health department. That will help a lot with baby formula, and trust me, formula is very expensive. All other assistance you can get from the county including health care if you qualify. Custodial bank accounts are great to set-up for children. And also, you may want to take a Lamaze or birthing class together, that will prepare you and her. And lastly, be prepared for little to no sleep. We have five, and whether or not you have to go to work, school, etc. babies love to keep you awake. Just take deep breaths and know without you and mom, the baby wont stand a chance in the world. We wish you many blessings, and congratulations.
2007-12-22 03:40:33 · answer #3 · answered by okeedokee258 2 · 0⤊ 0⤋
First off, props to taking responsibility and being such a mature partner. That's a little hard to come by these days. You'll do great with that sort of attitude!
My fiance has two bank accounts. One strictly for bills and one just for "spending" money. I would put as much as you could into your bill account and never use it for anything but bills, unless it's an absolute emergency. My fiance puts a set amount into that account every payday and more if he can afford it. Well he checks the balance every month or two and he has close to 1k just in money that doesn't have to be put to bills. It will accumulate quickly if you leave the money in that account alone. When we marry we plan on keeping the bill and leisure accounts, it's really nice to know you have emergency money to fall back on in case.
2007-12-22 04:31:19 · answer #4 · answered by Mary 4 · 0⤊ 0⤋
dont forget to try to be a good dad and spend time with ur kid . ... work hard and just try toi succeed in life because its hard and expensive , its alot of responsibility . belive me! . but try and ull do good
2007-12-22 03:28:45 · answer #5 · answered by Jorge&Daisy M 2 · 0⤊ 0⤋