(Closed) Budgeting can be so stressfull!

posted 7 years ago in Married Life
Post # 3
Member
767 posts
Busy bee
  • Wedding: August 2011

Congrats! It sounds like you made some hard decisions, but are seeing results. It makes me want to take another look at my finances and the pay-off periods for my loans. You’ve motivated me! 

Post # 4
Member
2083 posts
Buzzing bee
  • Wedding: May 2010

We are in a similar boat! Paying for the wedding was rough for us and we were so stressed out about the money especially because we then put a 20% down payment on our home a month before the wedding on top of everything else. Owning our own home has definitely been worth it though because our mortgage payment is even lower than our apartment rent used to be so we have saved a little there. Then we were hit with another blow when we got married and our health insurance jumped to over $900/month due to my husband’s diabetes and I have a preexisting condition of my own. It has been a struggle, but we managed to pay off 2 credit cards so far and now have 2 more to go. Plus in January with the new health care laws we can go back on our parents’ insurances which will be amazing and will save us about $500-$600/month. It feels amazing to be able to breathe a little easier! Debt can really take a toll on you for sure. Congrats to you both!

Post # 5
Member
4137 posts
Honey bee
  • Wedding: May 2011

wow good for you! i hope fi and i can say that one day too

Post # 6
Member
3762 posts
Honey bee
  • Wedding: May 2010

Good for you!  Its great to hear that it can be done.  So many people think that its impossible for young couples to be debt free but it really isn’t.  My husband and I are working towards that goal too. 

What was the hardest thing to cut out of your budget?  We didn’t have to cut too much out, but more cut back on the impulse big purchases.  Now if the money isnt’ there we wait until it is. 

Post # 8
Member
2066 posts
Buzzing bee

Congrats!!  H and I have been using mint .com, which is a great (and free) money management site.  I get excited each month when I move money into savings accounts for various things and see the charts that show progress twords our goals!

Post # 9
Member
21 posts
Newbee
  • Wedding: August 2011

That is such great news! Your financial situation when you got married is eerily similar to mine–I have much more debt than he does, and we are trying not to go into more debt with this wedding.

Initially, we’d planned an afternoon wedding and evening reception, but after realizing that we’d probably save quite a bit of money by moving the ceremony and reception so that everything would be done by dinnertime, we are now rethinking things. Hopefully our vendors and venues will be open to the idea…

Good job! You’re inspiring all of us!

Post # 11
Member
4824 posts
Honey bee

We are just sitting down and doing similar in terms of finances. We dont have consumer debt, but we are working out how much we will need to retire and making a plan to get there. IE $ amt set aside, how to invest it (type of accts as well as asset allocation).  As well as determining where to keep and how much we want for an emergency fund, what we can spend on luxuries/entertainment etc. 

Its a lot of work, but it is well worth it.  Congrats on the CC being paid off.

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