Feeling Discouraged :(

posted 2 months ago in Family
Post # 2
Member
2751 posts
Sugar bee
  • Wedding: November 2014

If you don’t have a savings, you need to sit down and look at where your money is going and where you can cut back on unnecessary expenses. It’s never too late to start saving, but I would definitely get my finances in order before getting married and starting a family. Dave Ramsey has good resources about managing finances and getting rid of debts. 

Post # 3
Member
188 posts
Blushing bee

I have a friend who manages with a family of 4 (husband + 2 kids) and her husband makes less than 20,000 a year. Its possible… is it stressful? yes. She is a master budgettor and she has had to get her husband on board with the budget. Its always do-able its just are you willing to do what needs to be done to make it happen. If its a bit priority in your life, you guys will make it happen. 

Post # 4
Member
524 posts
Busy bee

IMO this isn’t about feelings, this is about math. Get serious about budgeting and researching what you need. Be practical and choose a method that is sustainable. You don’t have to live in ramen! Look up Dave Ramsey or You Need A Budget. If you are limited by where you live, consider relocating, a career change, or a side job.

I live in a very HCOL area with my DH and it’s been a few years of planning to get to the point where we feel comfortable to move forward having a family.

Post # 5
Member
1627 posts
Bumble bee

In addition to budgeting and learning how to save, what are you doing to further your earning potential or reduce expenses?  30 is awfully young to max out your earning potential and just depend on cost of living increases until you retire in 35-40 years.  Have you thought about a career change or change in employer with more upward mobility?  Moving to a lower cost of living area?  Does your SO have higher earning potential such that if you have kids it would make more sense for you to be a stay at home dad?  Childcare is costly and with multiple kids it sometimes makes more financial sense for the parent with lesser earning potential to stay home until they are in school.

Post # 6
Member
779 posts
Busy bee
  • Wedding: March 2017

Have you thought of changing careers? I went back to school when I was in my 30’s, and I am in a better career now. I also had to work at paying off bills and saving money. It is really helpful to have a little bit put away into savings each paycheck as a direct deposit. You can save an amazing amount of money that way! It is possible to change your finances. 

Post # 7
Member
10 posts
Newbee
  • Wedding: March 2018

Better save up and cutting all that unnecessary wants! Good luck!

Post # 8
Member
47 posts
Newbee

Consider if you might find a less-expensive place to live and bring up your family, as in another city/town/state/area of the country.

Post # 9
Member
508 posts
Busy bee

No one is perfect with money and I live in a expensive city as well. Husband and I are both pretty good with it overall, but sometimes we goof. Saving and holding on to it can be hard. What we have done is set up accounts with automatic deposits for investments like retirement accounts. There are other options for saving money and making harder to withdraw from, things like CD accounts.

I’d speak to your bank about options and just be honest. I know it may seem late to start these things at 30, but I know people much older than you that are just now getting out of credit card debt and working towards having investment accounds. I’d just start with asking your bank or a investment company what sort of options they have and then go from there. In the meantime I’d do all you can to keep credit card use down and see if you an make custs into your budget to save a bit every paycheck. LIke maybe carpool or use public transit when you can to save on gas. Buy from discount stores over regular more expensive places. A big one can be to not buy coffee or treats and coffee shops and make your own!  Some savings is better than nothing.

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