SPINOFF: How much debt did your partner have when you got married?

posted 3 years ago in Money
  • poll: How much debt did you and your partner have the day after you got married?
    0-5k : (74 votes)
    51 %
    5-10k : (8 votes)
    5 %
    10-30k : (23 votes)
    16 %
    30-50k : (13 votes)
    9 %
    50-75k : (4 votes)
    3 %
    75-100k : (7 votes)
    5 %
    100-200k : (13 votes)
    9 %
    +200k : (4 votes)
    3 %
  • Post # 3
    Member
    2243 posts
    Buzzing bee
    • Wedding: January 2012

    0$. The wedding was paid with savings & then we opened all our cards so we ended up FAR ahead. 

    Post # 4
    Member
    2372 posts
    Buzzing bee
    • Wedding: September 2013 - B&B

    Well we just bought a house, and we both have student loans, plus we had two car loans.  In “bad” debt terms of any cc’s or anything, we have about $1500 between the two of us.

    But if I include the house, two cars, and our student loans, its nearly $200,000.

    Post # 5
    Member
    2372 posts
    Buzzing bee
    • Wedding: September 2013 - B&B

    I should add though, that we can absolutely afford our monthly payments, PLUS saving over $500 a month in one form or another (even after accounting for those “random things” that pop up like car inspection, someone’s birthday, etc.)

    Post # 7
    Member
    5207 posts
    Bee Keeper
    • Wedding: February 2013

    None. His car was paid off and he never went to college so obviously no student loans. Neither of us uses a credit card. 

    Post # 8
    Member
    4817 posts
    Honey bee
    • Wedding: September 2013

    None if you don’t count houses. He had about $6K in credit card debt when I met him, but he paid it off within a year. He also bought and paid off his car while I knew him and we paid off a second mortgage on one of his houses right before the wedding. So, when we got married we just had the mortgages on his two houses which we are renting out. My PhD was fully funded and he paid for school up front. Debt scares me!!

    Post # 9
    Member
    1681 posts
    Bumble bee
    • Wedding: September 2013

    @freshflowers: Our only “debts” are our student loans and a new car loan, which I don’t consider debt anyways, so I chose “0” in your poll. We were both solid A students in college, but there just weren’t enough grants and scholarships to cover all of it. (Even working two part time jobs (each) and commuting to college to avoid room and board fees wasn’t enough!) As for the car, let’s just be realistic here… if you’re starting out in white-collar field profession renting your house, covering all your bills (including paying off ALL credit card bills each month), and you’re not from an already well-off family, it’s nearly impossibly to pay cash for a new vehicle.

    Post # 10
    Member
    2878 posts
    Sugar bee

    @freshflowers:  I don’t know yet. We decided to delay our wedding (it won’t be in 2015) as money is tight right now since he got back to college. When we got engaged and started planning, we didn’t have the same budget ! But if I would have married him in Jan. 2015 as supposed to :

    – I owe around 21K total, but I plan on paying off at least 5K in 2014. 

    – He owes 16K (money borrowed by his dad on my FI’s credit card, and his dad is supposed to pay it off this year and the next) but he will also gather around 7K of student loans in 2014. 

    Worst-case scenario, we would owe under 40K combined. Hopefully, we’ll have paid off at least half of it when we finally set a date and get married. 🙂

    Post # 11
    Member
    1443 posts
    Bumble bee
    • Wedding: June 2010 - parent's backyard

    $0 for both of us. I had some debt I had paid off years before the wedding. he has never been in debt, the lucky bastard. 

    Post # 12
    Member
    11379 posts
    Sugar Beekeeper
    • Wedding: April 2012

    zero.  no cc debt, no car payments, no mortgage.

    Post # 13
    Member
    10491 posts
    Sugar Beekeeper
    • Wedding: January 2011

    I’ve never carried any long-term debt until we bought a house.  I paid off his student loans before we were married to avoid them charging him interest.  The only debt we had was temporary CC debt, as we don’t see the point in immediately paying them every time we us them.  We usually just pay them once the statement comes.

    Post # 14
    Hostess
    15072 posts
    Honey Beekeeper
    • Wedding: June 2011

    Dh had around 150 – 175k that mostly came down to fixing some paperwork left from his divorce that never got completed when his ex passed. It’s taken me years to clean half of it up but will hopefully have it completed by the end of this year and have him debt free. I had no debt.

    Post # 15
    Member
    2783 posts
    Sugar bee

    Were getting married next week and FI has zero debt. I owe a little over 6k on my car (which I’m paying off with our tax returns) and then I owe 3500 in student loans, which I plan to pay off by the end of the year.

    Post # 16
    Member
    3394 posts
    Sugar bee
    • Wedding: April 2014

    @freshflowers:  None, neither of us have any loans or credit cards.

    Leave a comment


    Sent weekly. You may unsubscribe at any time.

    Find Amazing Vendors