Post # 1
Let’s assume that after bills and $200 into savings every month, your spouse and you would have $200 left over for everything that was not an absolute need. Let’s assume that the money that is taken up is only going to bills (rent/utilities/phone/insurance) and savings and food and gas. Let’s assume that those bills are already at a minimum – no cable, a landline with local calling instead of a cellphone, basic internet. I.E. no budget for clothing or car repairs or emergencies, though that little bit of savings every month will give you a cushion. Of course, that cushion could be potentially wiped out any time an emergency came up.
Do you think this is sustainable as long as your income is secure? Or would you rather continue living with roommates and have a lot more wiggle room in your finances?
Post # 3
I think short term I’d just try to find good roommates. I’ve had some great roomies over the years. But that moght not work long term.
Post # 4
I would have to be saving A LOT to counter how much I hate living with roommates.
9 times out of 10 I would choose to live only with my partner and try not get more income/less living costs.
Post # 5
Once you save up enough for 6 months living expenses dump the roommate. For now as long as your marriage doesn’t suffer keep the roommate.
Post # 6
@anonbee06: roommates. 100%
Post # 7
- Wedding: June 2014 - Ontario, Canada ♥ EDD- April 2016
This is basically our financial situation right now and I would much rather live with this tight budget than with roomates 😉 It’s annoying, but it’s not horrible. We just don’t buy new clothes or go out to eat and stuff like that. It’s only temporary, because soon I’ll be done with school. We don’t find it that hard to manage, but this is also a huge improvement compared to a year ago when we were both students and only making a combined $800 a month aha.
Post # 8
I’m really, really not a roommate person. From what you wrote, it seems like you have $400 left at the end of the month once you’re done with bills, groceries, etc. and you put $200 of that in savings. Unless I’m misunderstanding, that seems totally fine. As you get older you will most likely make more money and can put more in savings. For now, I think what you’re doing is fine.
Post # 9
6 months of savings will be gone as soon as you need to buy tires and take the cat for its shots. It’s too close to financial disaster for my tastes.
Post # 10
Thanks for the replies. Obviously I don’t let random polls make my decisions, but I was hoping for a more clear-cut response in the poll. On the one hand, I feel like this can work (especially if I can get a few hours per week at a second job, which is the plan, but not something I am counting on in making this decision). On the other, I feel like Horseradish – that this could lead to disaster. If there was an emergency, we could ask family for a small amount of help, but that’s obviously something that should never, ever be counted on or done often.
The roommate situation is not horrible. We all get along. It’s just been going on for a long time, and my partner and I do not like the lack of privacy or the embarassment of having roommates at our ages. It’s never been just the two of us. We’re both 30. Not exactly 22-year-olds fresh out of school. The roommate situation does add some stress to the relationship, but trading places could also simply mean trading our source of stress. It would be possible for me to find a second job to help with finances, but it would be a challenge as far as the stress level and the availability of a job since I would lack flexibility in my hours.
We’ve been bouncing this idea back and forth. I think tonight we need to really sit down, talk about all the potential issues, and make a budget together. He gives me too much autonomy in financial decisions and prefers me to run the budget and keep the details simple for him, and I want him to understand exactly what the monetary situation would be so there are no surprises should we go this route.
Post # 11
Wow, 50/50 so far! Maybe it’s because I’m in my late 30s, but roommates do not sound fun. I did that in my 20s. I’d probably sell 95% of my clothes and possessions first and get a second job at this point in my life.
If you’re already living with roomies, and it’s going OK, then maybe live with it for another year or so to save up.
However, we do have friends our age who live in California. They are all musicians and share a home with 6 adults. The just cannot possibly afford to live on their own in that area. But with 6 of them they can get a nice house with a yard and fenced yard for their dogs.
In the end, you will know what is best for you guys financially and don’t let anyone make fun of your ages!
Post # 12
@anonbee06: is there any way you could get a place that has a basement and rent that out? To help supplement the income but you don’t have to have roommates…..it’d be a tenant with a separate entrance….etc.
i have several friends who would never be able to get a place of their own but by doing this are able to.
I would NEVER live with roommates once i was married, I’d need my alone time
Post # 13
- Wedding: March 2012 - Pelican Grand Beach Resort
This would depend on how old I was and who the roommates were.
I just can’t imagine past about 25 or 26 years old living with my spouse and roommates. And even so, those roommates would need to be actual preexisting friends.
Post # 14
@anonbee06: My DH and I have a similiar budget to the one you described.. After rent/bills/food we have $50 a week left over for things that pop up (docs apps, clothes, a date night) and we save a little each week as a cushion.
Its stressful sometimes, and when our friends ask us out we have to pass most of the time, but I would prefer to live like this and have privacy with my husband.
Post # 15
@MrsMagillToBe: It’s nice to hear from those who have similar money situations. Thank you.
Post # 16
FI and I lived this way for about a year. It wasn’t bad at all, and I personally like knowing that we can still be happy and make the best of our life together even when money is very low. I don’t know what it would take for me to live with a roommate… I think we’d have to get down to no more than $20 left over after bills.