How did you start out (financially) after college/marriage?

[bikinpunk 10+ year member]

I'm getting married in June. My girl graduates in May and is already working at a hospital (she's a respiratory therapist). I graduate next Spring (aerospace engineer) and am co-op'ing right now. I know we won't be rich, but between the two of us we should be making $70-80k/year before taxes, maybe more. I've never saved money (I always eat out or burn gas), and knowing that we'll need all we can for a while, I've decided to start saving about 55% of each check. I still have car payments ($292/month) and there are a couple things I want to get, so I've decided to give myself a $50 allowance out of each check to put towards my "car audio fund". My fiance already has $6000 saved up, and we'll live rent-free in a house her parents own for at least 1.5 years, then we'll build. Her dad's a contractor so it'll be cheaper anyway to build rather than rent. We both have credit scores over 750, so I imagine that getting a loan won't be extremely difficult. I'm just curious how some of you started out when you got married/out of school. I have some friends who are living it up...but not debt free.

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[faulkton 5,000+ posts]

i wonder what % of the people in the lounge are married... or college educated.

 

[bikinpunk 10+ year member]

i wonder what % of the people in the lounge are married... or college educated.

lol...yea, I know. I take a risk posting it. My odds are much better here than OT, though. //content.invisioncic.com/y282845/emoticons/eek.gif.771b7a90cf45cabdc554ff1121c21c4a.gif

 

[Eugenics 5,000+ posts]

I think the average age group of this forum is probably 16-18... even if they pretend they are much older.

 

[Eugenics 5,000+ posts]

oh, and 17 yearolds that are going to graduate when they're 21.

 

[Railrocker 10+ year member]

I went to college raised a child on $8k a year.

Things are a lot different now but it sounds like you are doing well.

Stay out of debt as much as possible.

Debt is alright untill something happens and your unable to pay then your credit goes tits up and its real hard to build it back up.

 

[faulkton 5,000+ posts]

I think the average age group of this forum is probably 16-18... even if they pretend they are much older.

i bet the mean score would be in your range.

We could collect data and set up some confidence intervals if you want.

 

[faulkton 5,000+ posts]

i can make the null hypothesis and eugenics you make the alternate/research hypothesis.

 

[joetama 5,000+ posts]

Sounds like you are going to be just fine man.... Not a bad setup you guys should be able to do pretty decent for yourselves. Good luck mang.....

 

[WhoSayWho? 5,000+ posts]

Sounds like you have the right idea. Avoid debt. You will be tempted to get those things that you have been missing out on while you have been in school. Resist that temptation.

The exception -- the house. I see no problem with incurring debt for that. You get a tax break for the interest. Plus, I have never sold a house that I did not make money on.

 

[Eugenics 5,000+ posts]

i can make the null hypothesis and eugenics you make the alternate/research hypothesis.

Perhaps we could do a study on 'group think'. I know how the SS soldiers rationalized what they did. I wonder how the population of CA.com justify all the stupid shit they think/post/do

 

[faulkton 5,000+ posts]

Perhaps we could do a study on 'group think'. I know how the SS soldiers rationalized what they did. I wonder how the population of CA.com justify all the stupid shit they think/post/do

i will suggest that to my social research methods class tomorrow and see what they think... we have to do some sort of project.

 

[bikinpunk 10+ year member]

I was actually just reading how you get a tax break if you own a house, but don't if you rent. That's nice. I've worried that as a married couple we would be taxed heavily since our incomes would be combined, but I suppose that since I would still be in school during our first year it won't be too bad. That $50/week is gonna go toward getting an h701 processor (that I may buy now with tax money and put back into that...borrow against myself, lol).

 

[PatFitz9 10+ year member]

you will do fine. living rent free for a year will be a HUGE help. my g/f makes jack since she is a teacher, so I pay for just about everything (also an engineer). just make sure when that savings starts getting bigger, you don't get the urge to spend it.

 

[Railrocker 10+ year member]

An aero space engineer and a respiratory therapist together only make 70-80k a year?