Post # 1
FH and I are about to get married in a month. My parents are generously paying for the wedding and his are paying for the honeymoon (very thankful). However, I’m concerned about living after the wedding and I’ve been concerned for while. I’ve talked to FH and he thinks everything will just work out. I’m about to graduate with my bachelors degree in math/science education on Friday (yay!) and he has another year of graduate school. I currently only hold a job that pays $7.50 at the campus bookstore; I have not found a teaching job yet which has me worried since we are in a area with not a ton of schools… We are staying in town so he can finish his masters. He works as a tech in a hospital, but not enough to have any real savings.
How do we live in this situation? We are also relatively young and while I have experience paying bills he definitely has a learning curve.
Any words of encouragement or advice from personal experience would be wonderful.
Post # 3
You find a job with full time hours and work hard at it until a teaching job comes up.
You write out a budget for ALL expenses and put these first – above clothes, eating out, hobbies etc.
Most people find themselves short of money when they finish college. You work, and work, and work until you can afford the luxury of working less.
Post # 4
Can you start out as a substitute teacher? A friend of mine got her full time teaching job when the teacher she was subbing for didn’t come back after her baby.
Post # 5
My friend didn’t get her first teaching job until the end of the summer before she started, so IDK how it is in your area, but there’s probably still hope!
Read Dave Ramsey’s book – Total Money Makeover – to learn how to budget properly.
You will probably have to find a full time job and take out a bit more in student loans (try to avoid this, if possible) and live as “cheaply” as possible.
Post # 6
Congrats on the degree. You need to find a job in any field that pays the bills. Forego the honeymoon and use that money as a cushion for living expenses because that’s more important than a vacation.
Post # 7
I agree with finding a job that might not necessarily be in your field until a teaching position opens up. I’d go for anything that’s full time or as close to full time as you can get! Or if you have the time, maybe a second job would be able to hold you over until you can find something better. You can also cut out things that aren’t absolutely necessary: cable, internet, cell phones (get a landline instead), eating out, entertainment etc.
But honestly, you probably won’t like this question but why are you getting married if your finances aren’t decent? Not that they have to be amazing, but if you’re only relying on your current income it just seems like a shaky foundation to start a marriage on. Specifically because finances are such a sore area for a lot of marriages, why start off that way?
Post # 8
Subbing can make really good money! Don’t rule it out! 🙂 Also Math/Science is in pretty high demand in general, and what PP said about schools not hiring til the end of August/Sept is true. I would recommend getting a full time job for over the summer though, that way you have good income until next fall.
Post # 9
That is so generous of your families!
So on to the married financial life…
I think it is very crucial that you do not take the “everything will work out just fine” route. It sounds lke money will be very slim. I encourage you two to sit down and figure out all the income sources and all the expenditures you two generate in a month. That is the first step.
It sounds like this has not been done. I know you’ll be blissfully married by then, but it’s going to be key to talk about this pronto. It’ll be the first of many many more financial talks to come.
If you are spending more than you are earning, then it’s time to assess things majorly. Cut out things (cable, expensive cell phones, eating out, etc). Look to sell things. Maybe downsize your apartment to something smaller and cheaper. The key here is to NOT use your credit cards for living EVER.
Post # 10
Most of us have been there :-). We shared a very small one bedroom apartment, got creative with food, and did a lot of free activities (hiking, bike rides, etc!). I bet living in a college town, there is a lot of free entertainment! Cut cable (Hulu+ or Netflix are much cheaper) and switch your phone to a cheaper plan. We definitely kept our thermostat warmer in the summer and cooler in winter. My “poor” years were some of the happiest i’ve had – it’s very exciting to be out there creating a life for yourself!
Post # 11
- Wedding: November 2013 - St. Augustine Beach, FL
@Spideykiss: Just as she advises, budget, budget, budget.
Sit down and determine what your monthly income is and estimate your monthly expenses as best as possible. It’s okay to live paycheck to paycheck at first but make sure to review all of your expenses to determine where to make cuts so you can have start your savings (even having a little saved is important because you might need to repair a vehicle or pay a speeding ticket.) We review our budget at least once a year and any time one of us has a change in income.
@crayfish: This is great advice too. We cut the cord on cable to save money and moved closer to my office so we could share a vehicle and cut down the gas.
Post # 12
Worse come to worse, you both double up on jobs. Even if for you that means another part time or minimum wage gig.
Post # 13
You can tutor as well as sub, which will get you more money. Is there a Sylvan Learning Center near you? They don’t pay super well — only like $12/hour — but it’s better than $7.50!